Amendments to Chapter VII of Finance Act [Chapter 23:04]
With effect from the 1st January, 2011, the rates of royalties for the purposes of Section 245 of the Mines and Minerals Act [Chapter 21:05]) are as follows:
|
Section 245 (Royalties) |
Percentage of gross fair market value of mineral produced |
|
Diamonds ………………………………… |
15 |
|
Other precious stones.................................... Gold………………………………….............. |
10 4,5 |
|
Platinum……………………………………..... |
5 |
|
Other precious metals………………………... |
4 |
|
Base metals………………………................... |
2 |
|
Industrial metals……………………….......... |
2 |
|
Coal-bed methane……………………….......... |
2 |
|
Coal……………………….............................. |
1
|