New mining law awaits presidential assent
Zimbabwe’s mining sector is on the verge of total transformation as the Mines and Mining Amendments Bill now awaits presidential assent.
The proposed mining sector new legislation which seeks to increase investments was one of the key issues at the Mining and Agriculture Interface held in the capital on Thursday.
Guest of honour for the interface Vice President Kembo Mohadi said in a speech read on his behalf by the Principal Director in his office, Dr Petros Themba Ndlovu, favourable operational climate is important for the country to develop.
“The sector needs policies that can boost the flow of capital,” said Cde Mohadi.
While the proposed amendments to the existing Mines and Mining Act seek to facilitate transparency, accountability and value addition of resources, the Minister of Mines and Mining Development Cde Winston Chitando says focus should also be on exploration.
“We are looking at all the possible factors to create value,” he said.
With small scale or artisanal miners playing a huge role on mineral production and earnings, Zimbabwe Miners Federation President Ms Henrietta Rushwaya says incentives for emerging miners are critical to increase output.
“We just anticipate for the best to increase yields,” said Ms Rushwaya.
Mining is strategic to Zimbabwe’s economy contributing over 50 percent of the country’s annual foreign exchange earnings.