The Zimbabwean government announced on Thursday an increase in royalties imposed on gold producers, a measure intended to take advantage of the historic surge in precious metal prices. This decision has been detailed in the speech presenting the national budget for the year 2026.

According to the budget document, mining operators will now have to pay a 10% royalty as soon as the price per ounce exceeds 2,501 dollars. This reform is part of a series of measures aimed at strengthening public revenue while supporting the mining sector, one of the pillars of the national economy.

The gold price fell slightly by 5% after reached an all-time high of $4,381.21 on October 20. Despite this down, prices remain well above the $4,000 threshold, offering the country an opportunity to maximize its extractive revenues gold.

“To ensure that the mining sector contributes fairly to government revenues during periods of soaring prices of raw materials, and to eliminate disparities between the various categories of producers, I propose to harmonize and review the structure royalties for all gold miners”, declared the Minister of Finances, Mthuli Ncube, in his speech.

Zimbabwe is heavily dependent on its gold exports — as well as those of tobacco — to supply its foreign currency reserves foreigners. Among the main players in the sector are Kuvimba Mining House, Padenga, Caledonia Mining Corporation and Rio Zim, whose activities will be directly impacted by this new price list.