Zimbabwe removes requirement for foreign mines to list locally

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Zimbabwe’s parliament has passed amendments to the mining bill after removing clauses that required foreign mining companies to list locally.

The country’s Mines Minister Winston Chitando had last month promised to remove the requirements, which he said caused panic among foreign mining firms and were contrary to the government’s push to open Zimbabwe to foreign investors.

The southern African nation has seen increased interest from foreign investors since November 2017.

The amendments to the mining bill, allows the mines minister, after consulting with the President, to designate any mineral as strategic if it would be in the interests of the development of the mining industry.

The mining bill would also for the first time officially recognise small-scale miners, who produce more than 40 percent of Zimbabwe’s gold output, meaning that their operations will no longer be considered illegal.

 

Peace PIAK