Zimbabwe set to scrap platinum indigenisation law, grapples with electricity shortage
Deputy minister of mining offers delegates at Harare indaba encouraging message about doors of investment opening in his country
The Zimbabwean mining industry is desperately short of electricity and despite welcoming mining investment and expediting projects, it needs a fourfold increase in power. At the second annual Harare Indaba in Johannesburg, delegates heard the encouraging message of investment doors opening in Zimbabwe by Polite Kambamura, the country’s deputy minister of mines & mining development, but there were deep-seated concerns among the 50 delegates about the local currency, the ability to expatriate profit, the inability to secure a full, market-related gold price and electricity supply. While Zimbabwe is host to the world’s second-largest known platinum group metal deposit after SA, the industry has remained constrained because of damaging government policies and actions under former president Robert Mugabe, but Kambamura spoke of new entrants wanting to start mines in the next few years. The deeply damaging indigenisation policy giving Zimbabweans, in the form of the government, investors...
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