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Does Caledonia Mining's (CMCL) Royalty Clarity in Zimbabwe Quietly Shift Its Long-Term Risk Narrative?
Caledonia Mining Corporation PLC has confirmed that Zimbabwe’s 2026 National Budget is now in force, with a higher 10% gold royalty applying only if the gold price exceeds US$5,000 per ounce and other proposed tax and royalty changes withdrawn.
This clarification removes the need to amend the Bilboes Gold Project Technical Report Summary and reduces uncertainty around future tax treatment for Caledonia’s Zimbabwe operations.
We’ll now examine how the conditional 10% royalty threshold and...