Zimbabwe will reduce royalties levied on small-scale gold producers to 1 percent from 3 percent from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday.

In a half-year budget presentation to parliament, Chinamasa said deliveries of gold from small scale producers had increased to 3,117 kg between January and June, compared with 993 kg over the same period last year.

“In order to consolidate the gains realised to date and taking into account the international commodity prices, I propose to further review the royalty rate on small scale gold producers,” he said.

Reuters