This article discusses the significant income tax and withholding tax changes which were made with respect to mining operations in Zimbabwe by the Finance Act, 2001 and the Finance Act, 2000. The changes apply to "mining operations", as defined in the Income Tax Act of Zimbabwe, and include, among other things, amendments with regard to the ring-fencing of taxable income and assessed losses from mining operations, the deductions for capital expenditure, and the new prohibited deductions.