miners 2 11-10-10.jpgStakeholders in the mining sector say the newly gazetted mining fees are too exorbitant and will cause a major drawback on the implementation of the indigenisation and economic empowerment policy.

The concerns come amid reports that the new fees are meant to curb speculative tendencies among miners who are withholding claims which they are not utilising.

Gold Search Managing Director, Mr Vimbai Chakanetsa said the new fees shows inconsistencies within government policies as the current fees are defeating the indigenisation and empowerment process.

Miner, Mr Malvern Chimutashu said the fees are retrogressive in that they favour foreigners who have money as compared to locals who are facing financial constraints, hence the need for government to relook at the policy for the growth of the industry.

Government introduced the ‘use it, lose it concept’ last year to curb speculative behaviour by miners and the increase in fees will go a long way in containing the situation.

According to Statutory Instrument 11 of 2012, registration of diamond claims has increased from US$1 million to US$5 million while application fees for prospective coal investors has been pegged at US$100 000 from US$5 000.

Those in beneficiation of diamonds are now required to fork out US$10 000 from US$5 000, a move which is believed by stakeholders as a way of kicking them out from business.