Post #277

⏰Better Late Than Never Zimbabwe has finally started thinking about the future — at a moment when the future has already been here for several months. 🌐 The authorities of Zimbabwe have at last considered raising the gold royalty. Instead of the previous modest 5%, royalties on gold will now range from 3 to 10% depending on the price (and at current prices, that means 10%). ⏩ Gold exports brought the country around $2.5 billion in 2024 and remain Zimbabwe’s main source of hard currency. Gold accounts for roughly one-third of all export value. 📈 Gold prices have been rising for several years, but especially sharply over the past six months — prompting many governments to revise old mining terms in favour of greater state participation or higher taxes. Mali, Burkina Faso, and Côte d’Ivoire moved in this direction long ago, while some others, for instance Ghana and Nigeria, are still falling behind. Even though the decision was clearly taken late, most analysts expect gold prices to remain high for the next few years — so Zimbabwe will still have time to catch some profits. Devils Below