Zimbabwe is moving to capitalise on record global gold prices by proposing a major gold royalty hike, which could make its gold the most heavily taxed in the region. Under the new budget plan, miners would pay a 10% royalty when gold prices exceed $2,501 per ounce, up from the previous flat 5% rate. Large and small-scale miners warn that the policy will shrink profits, reduce investment, and push more production into informal smuggling networks.