Deputy Mines Minister Gift Chimanikire told Bloomberg that the companies were against any raise in fees this year, as it hampers development.
The Mining ministry had earlier appealed to the Ministry of Finance to reduce mining fees by half.
"We’re now waiting for the Ministry of Finance to approve the new fee structure, which will happen in the new year," Chimanikire added.
Earlier in 2012 the country increased diamond mining licenses from the then $1m fee to $5m.
A platinum mining license fee was also hiked to $500,000 as compared to the earlier price of $200.
The government argued that the higher fees were set to dissuade speculative holdings on mineral claims, however, it was now in the process of reviewing the scenario.
A raise in mining fees is expected to adversely affect the Zimbabwean mining industry, as the country seeks to enhance revenue from the sector.
