from MTHULISI SIBANDA in Cape Town, South Africa
CAPE TOWN, (CAJ News) – INTERNATIONAL investors have been encouraged to make the most of Zimbabwe’s endowment with mineral resources and moves by the new administration to ease legislation promulgated by the former regime to deter investments.
Presiding over the Mining in Zimbabwe Dialogue in Cape Town, South Africa, Winston Chitando, the Minister of Mines and Mining Development, reiterated the theme of the administration of President Emmerson Mnangagwa, “Zimbabwe is Open for Investment”, with mining set to play a pivotal role.
Speaking at the event held at the sidelines of the Africa Mining Indaba, Chitando said among the major measures government had initiated was easing the indigenization policy, which had left only platinum at a 51 percent-49 percent threshold, favouring indigenous Zimbabweans while diamonds were for exclusive exploitation by government through its agencies.
“There are vast opportunities which we would encourage investors take advantage of,” he told an audience that included current and potential investors.
Chitando pointed out the Southern African country had more than 40 minerals as is largely believed.
“The fact of the matter is that Zimbabwe is underexploited. The exploration was done largely before modern exploitation techniques,” he said.
– CAJ News