Home Mining Midterm Budget Review: Finance Ministry Proposes Platinum Royalties Increment

Midterm Budget Review: Finance Ministry Proposes Platinum Royalties Increment

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By Nomthandazo Ndlovu

The ministry of finance and economic development has proposed the increment of platinum royalties to maximise revenue.

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Speaking during the mid-term fiscal policy review statement yesterday, Professor Mthuli Ncube said a royalty of 5% is necessary with effect from 01 January 2022.

In 2015, the government slashed the rate of royalty for all platinum group mining companies to 2.5% from 10%.

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