Zimbabwe considers scrapping ownership rules for platinum and diamond miners
SA miners Anglo American Platinum and Impala Platinum have cut back investment in the country since the rule was introduced
Zimbabwe, which has the world’s second-biggest platinum reserves, may lift a requirement that companies mining the metal or diamonds must be at least 51% owned by black citizens of the country, President Emmerson Mnangagwa said. Mnangagwa, who became president in November after Robert Mugabe resigned under pressure from the military, has announced that the ownership requirement on all other minerals will be abolished. The government needed to assess its platinum and diamond industries more carefully, he said. "I only excluded diamonds and platinum for now. We do not have a real or deep-rooted or well-interrogated policy on diamonds or platinum," the 75-year-old president said in an interview in his office in the capital, Harare, last week. "Down the line when we are satisfied that this can also go into the open basket we will do so." Platinum and diamonds are key exports for an economy that has halved in size since 2000 after a land reform programme slashed shipments of crops such a...
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