By MacDonald Dzirutwe
HARARE, Feb 2 (Reuters) - Zimbabwe will keep a 15 percentexport tax on unrefined platinum for now because mines havefailed to provide a roadmap on how they plan to set up a localrefinery, Finance Minister Patrick Chinamasa said on Monday.
President Robert Mugabe's government first proposed the levyin 2013 in an effort to push mines to process the metal locally.
In November, Chinamasa announced in a budget speech that hehad postponed its introduction until January 2017 to give thefirms time to build the smelting and refining plants.
But the government's finance bill, which was published onJan. 9, proposes its introduction from Jan. 1, 2015.
Chinamasa told Reuters in an interview that he had made hisbudget speech on the assumption that producers in Zimbabwe,which holds the world's second largest platinum deposits, had afirm plan on setting up a refinery.
"There was some mistake on my part there in the budgetstatement. I had been made to understand by the chamber of minesthat platinum producers had provided a roadmap towardsestablishment of a platinum refinery," he said.
"So when there was a non-existent roadmap, because they hadbeen given this warning two years back and there was nothing toshow for it, I then decided to keep the provisions which we hadput in the finance bill to remain as is," said Chinamasa.
Miners Aquarius and Impala said on Fridaythey were seeking clarity from the government over the tax,which, if enforced, would slash their margins.
With platinum prices already depressed, the tax would eatinto the profits of companies with platinum assets in thecountry, which include Anglo American as well asAquarius Platinum and Impala.
Chinamasa said the chamber of mines, which represents themining companies was holding discussions with the ministry ofmines.
Taxes are finalised on the 7th of each month for the priormonth in Zimbabwe, so the industry should have clarity by Feb.7.
Asked whether the government would change its position,Chinamasa said: "There are many ways to change this provision.But for now it is effective."
Mining companies have previously said Zimbabwe'sinfrastructure and energy supply was not adequate to run a bigrefinery and note excess refining capacity next door in SouthAfrica. (Reporting by MacDonald Dzirutwe)
