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Zim allows gold mining firms to retain 55% of dollar earnings

Zimbabwe's deputy mines minister Polite Kambamura said miners of gold, the country’s largest mineral export, should be allowed to earn up to 70% of their sales in dollars.

FILE: Miners at work in a mine shaft. Picture: AFP

HARARE – Zimbabwean gold mines have been allowed to retain 55% of their earnings in dollars, from 30% previously, the deputy mines minister said, as the government moves to ensure their operations remain viable.

Polite Kambamura said miners of gold, the country’s largest mineral export, should be allowed to earn up to 70% of their sales in dollars.

The mining sector like most of the businesses in the southern African nation is struggling to pay for imports like spares and other consumables due to a severe dollar crunch.

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