The Zimbabwe government wants mining companies to pay half of their royalties in diamonds, gold and platinum and the balance in cash as it seeks to grow its mineral reserves.
Bloomberg quoted finance secretary George Guvamatanga as saying in a letter sent to the Ministry of Mines that the Treasury was concerned that the country does not have reserves of the minerals, which "serve as a source of trust in a country given that they carry no credit or counterparty risks".
"It is something we want to implement," he told the financial news service provider.
Deputy mines minister Polite Kambambura also said they are currently consulting the mining companies.
"The whole idea by the Ministry of Finance is that they want to store the value of our royalty," he said.
Zimbabwe has the world’s third-largest reserves of platinum.
Platinum in the country is currently being produced by Impala Platinum and Anglo American Platinum, while diamonds are produced by Anjin, RZM Murowa and Zimbabwe Consolidated Diamond Company.
Gold mining companies include Caledonia, Rio Zim, Freda Rebecca and Metallon Corporation.
Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished
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