Post #379

Backed Down🇿🇼 Zimbabwe has abandoned what was for once a good idea 💸 Zimbabwe will not raisegold royalties to 10%, according to the approved 2026 budget plan. The proposal, put forward in late November, was reportedly dropped due to pressure from mining industry lobbyists. 📉 There is, of course, no real economic logic in refusing to raise the tax. Half of the continent is currently increasing taxes on gold, and in some cases companies that object even lose their assets, as in Mali — and yet "investors" are not fleeing. 💬 Here, by contrast, someone as they say grumbled, and the country gave up higher revenues from its main source of export earnings at a time when gold prices are reaching historic highs. ⏩ Unfortunately, high gold prices are not eternal, and introducing a higher tax in a year or two will already be too late. ➡️ Follow to stay informed - @devilsbelow