15th Sep 2014 09:18
LONDON (Alliance News) - Mwana Africa PLC Monday said it will get a welcome financial boost after Zimbabwe's government cut the royalty on Zimbabwean gold producers to 5%, from 7%, from the start of October.
Mwana has an 85% interest in, and operates the, Freda Rebecca gold mine at Bindura in Zimbabwe's Mashonaland Central province.
"We have actively engaged with Government on this issue and it is very pleasing that - in a spirit of
understanding and co-operation - it has recognised the challenges inherent in the gold mining industry at present," Mwana Chief Executive Officer Kalaa Mpinga said in a statement.
Mwana Africa shares were up 3.0% at 3.09 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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