Zimbabwe: Zim Repays Implats Unit U.S.$100 Million, Revenues Tumble

Zimbabwe says it repaid Impala Platinum's unit in the country about $100m in overpaid royalties, dragging down earnings from the mineral royalties segment by 110%, the Zimbabwe Revenue Authority (Zimra) said on Thursday, saying this had contributed to a 7% shortfall in 2015 revenue targets.

The mineral rich southern African country is battling a severe economic downturn that has been worsened by drought conditions and suppressed commodity prices.

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