Third mining indaba on

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Zimbabwe will on Wednesday hold the third mining indaba in as many months at a time there is heightened tension in the mining sector as a result of the implementation of indigenisation and empowerment plans by mining companies.

The government has in recent weeks threatened to cancel operating licences of mining companies that have failed to comply with the indigenisation policy.

Youth Indigenisation and Economic Empowerment minister Saviour Kasukuwere recently said 45 mining companies had complied with the law and agreed to implement the indigenisation framework.

They include New Dawn, Murowa Diamonds, Blanket Mine, Multibay Investments, Quali Exploration and Kwekwe Consolidated Gold Mines.
The mining indaba organised by Utho group would provide participants with the opportunity to discuss pertinent issues affecting the sector.

Highlights of the indaba include a presentation on the impact of indigenisation laws on the sector, beneficiation strategy, Mining and Minerals Act, technology and innovation, environmental issues, infrastructure development, role of financial institutions and current investments into the country, review on progress in the last 12 months in the mining sector and the type of investor the government is looking to attract.

Mines minister Obert Mpofu, Kasukuwere, Finance minister Tendai Biti and Economic Planning and Investment minister Tapiwa Mashakada are billed to address the conference.

Several international mining executives expected include Gerard McCloskey, Merlin Trade and Consultancy Ltd chairman, Ian Kramer, director of Energy and Natural Resources and KPMG and Chamber of Mines South Africa CEO Bheki Sibiya.

The government estimates that the mining sector requires $6 billion over the next five years, but has struggled to attract investors, who are put off by the uncertain investment climate and unclear legislation.