Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has confirmed that Zimbabwe has now enacted its 2026 National Budget.
The enacted provisions confirm Caledonia’s December 19 position, the company said. “The higher royalty rate of 10% will only apply if the gold price exceeds US$5,000 per ounce,” it added.
Caledonia also said other proposed changes flagged in its December 1 announcement will not go ahead. “The other proposed changes to the tax and royalty regime that were highlighted in the announcement of December 1 have been withdrawn,” it noted.
The company told investors that the legislative outcome means no updates are needed to its Bilboes Gold Project Technical Report Summary published in November.