Zimbabwe considers ‘use it or lose it’ approach to mining rights
The country, which sits on the second-largest known platinum deposits after SA, is keen to revive the sector to drive economic growth
Zimbabwe may withdraw mining rights from companies that take too long to dig for minerals, the deputy mines minister said on Wednesday, part of efforts to lift output in a sector vital to the country’s economic revival. Zimbabwe sits on the second-largest known platinum deposits after SA and President Emmerson Mnangagwa is keen to revive mining after years of reticence by foreign investors during the Robert Mugabe administration. Speaking to investors and executives at a mining conference in Johannesburg, Polite Kambamura said details of the “use it or lose it” approach to mining policy would be made available in due course. “We will be calling owners of such mineral resources to come forward and show cause why they are not mining,” he said on the sidelines of the conference. “If we’re not satisfied with their explanation or mining plans, then we will kindly ask them to give that resource back to the government.” Export boost As part of plans to boost mining export revenues to $1...
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