Zim repays Implats unit $100m, revenues tumble

February 5, 2016

Responsive image

Zimbabwe says it repaid Impala Platinum’s unit in the country about $100-million in overpaid royalties, dragging down earnings from the mineral royalties segment by 110%, the Zimbabwe Revenue Authority (Zimra) said on Thursday, saying this had contributed to a 7% shortfall in 2015 revenue targets. The mineral rich southern African country is battling a severe economic downturn that has been worsened by drought conditions and suppressed commodity prices.

Category: General