21 January 2018
   
How ED pulled wool over Mugabe’s eyes
UN: 5 dead in DRC anti-Kabila demo
US wants Africa to shun North Korea
'Zimbabweans mentally ill after Bob horror'
Chamisa, Speaker row over G40 MP purges
ZRP reverses decision to fire top cops
Bennett: Clues sought in chopper crash
EU, UN should observe elections: Pres
MORE NEWS
Buyanga responds to investment call
ZTA targets domestic tourism
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Cricket: ICC clears Zimbabwe's Vitori
Zidane fuels Neymar to Real talk
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Government plans new law to boost mining
22/11/2013 00:00:00
by Bloomberg
 
We are nearly there ... Walter Chidhakwa
 
RELATED STORIES
Chidhakwa wants tougher mining laws
Miner workers want wages doubled
Govt plans global mining bond, minister
Mineral exports bring in US$1.38bln
Process minerals locally, minister
We’ll have a Marikana here, miners warn
Chidhakwa urges swift investment processing
MMCZ seeks partners for gem polishing
Mineral royalties top US$81 million

THE government, which has the world’s second-biggest platinum reserves, is planning a new mine law that may compel companies to use exploration concessions or face losing them and will determine how much miners pay to use land.

The new act will include “a whole range of things” including a “use-it-or-lose-it” policy and rules to ensure value is added to Zimbabwe’s minerals before they are exported, Walter Chidhakwa, the country’s mines minister, said from Johannesburg, South Africa.

“We thought we would do an amendment to the mining law, but we realized that we need to do a complete review of the entire law, because of the magnitude of the changes that are required,” Chidhakwa said.

“We are nearly there.” He plans to present the new law to cabinet in the first quarter.

Besides platinum and chrome deposits, Zimbabwe has reserves of minerals ranging from coal and iron ore to gold.

Investment has been inhibited by a law compelling foreign and white-owned companies to sell or cede 51 percent of their local assets to black Zimbabweans or the southern African nation’s government.

The country will produce about 365,000 ounces of platinum as well as metals found in the ore alongside the metal this year, according to the country’s Chamber of Mines.

Chidhakwa was appointed after President Robert Mugabe won July elections to extend his 33-year reign, ending a coalition government with the main opposition party, the Movement for Democratic Change.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker