Caledonia contributes over US$23 million to Zimbabwe’s fiscus in 2024

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LISTED gold producer Caledonia Mining Corporation contributed US$23.745 million to the Zimbabwean government in 2024, excluding additional royalty payments amounting to US$9.081 million, the company revealed.
In its latest Environmental, Social and Governance (ESG) 2024 report, Caledonia noted that its economic impact in Zimbabwe extends beyond employment, procurement, and local ownership.

The company stated that it plays a vital role in national development through various fiscal contributions, including taxes, royalties, and regulatory payments.
“Our payments to the Zimbabwean government include income tax on Blanket Mine’s profits, PAYE (income tax on employee wages and benefits), five percent gold royalty payments, withholding tax on cross-border transactions, revenues from gold refining arrangements, dividends paid to NIEEF for its 16 percent stake in Blanket, and various customs, duties, levies, and charges,” the report reads.

“By ensuring fair, transparent, and substantial contributions to Zimbabwe’s fiscal system, we support national development and economic stability. Our total payments to the government in 2024 were US$23.745 million (US$11.9 million) to the Zimbabwean government, excluding royalties of US$9.081.”

The ESG report, which covers the period from January 1 to December 31, 2024, reflects Caledonia’s commitment to sustainable and transparent operations in the country.

Zimbabwe has made sustainability reporting mandatory for all companies listed on the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX), aligning with global trends in responsible corporate governance.

Sustainability reporting involves the disclosure of a company’s environmental, social, and governance (ESG) objectives and progress.

By publishing these reports, businesses demonstrate their dedication to ethical practices, effective risk management and long-term financial resilience.

 

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