Mwana Africa has warmly welcomed the decision by the Government of Zimbabwe in its 2014 Mid-Year Fiscal Policy Review Statement to reduce the royalty on Zimbabwean gold producers from 7% to 5%, effective 1 October 2014.

Mwana has an 85% interest in and operates the Freda Rebecca gold mine at Bindura in Zimbabwe’s Mashonaland Central province.

Mwana Chief Executive Officer Kalaa Mpinga said: “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.

“The reduction in the gold royalty rate will provide a welcome financial boost to Freda Rebecca and Mwana.”

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