Zimbabwe will increase gold producers’ royalties in order to profit from recent record prices

A 2026 national budget speech revealed on Thursday that Zimbabwe will increase royalties on gold producers in an effort to capitalize on the recent record high bullion prices.

According to the paper, gold miners would pay a 10% royalty if prices above $2,501 per ounce as part of a number of revenue initiatives intended to increase state revenue and encourage local business.

Although it has largely traded over $4,000 an ounce, bullion has dropped 5% since reaching a record high of $4,381.21 on October 20.

“In order to ensure the mining sector contributes a fair share of revenue to the Fiscus during periods of commodity price boom, as well as eliminate arbitrage between categories of miners, I propose to harmonise and review the royalty structure for all gold producers,” Mthuli Ncube, the finance minister, was reported as his remarks.

Exports of tobacco and gold provide the majority of Zimbabwe’s foreign exchange.

Rio Zim, Padenga, Caledonia Mining Corporation, and Kuvimba Mining House are among its top producers of gold.