×
NewsDay

AMH is an independent media house free from political ties or outside influence. We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly published every Sunday, and Southern and NewsDay, our daily newspapers. Each has an online edition.

Diamond companies licence fees slashed

News
GOVERNMENT has reduced the licence fees for diamond polishing and cutting companies by 80%.

GOVERNMENT has reduced the licence fees for  diamond polishing and cutting companies by 80% to encourage participation by local players and   plans to have a makeshift diamond exchange by the second quarter of this year, a government official has said.

Victoria Mtomba

Addressing journalists yesterday, Mines and Mining Development minister Walter Chidhakwa said he had had a meeting with players in the diamond polishing industry and they complained about the licence fees that stood at $100 000 over one year.

He said the government wanted to create a diamond industry that would provide jobs, income and profits.

“We have reduced the fees from $100 000 to $20 000. We said investors do not make decisions over one year, but let the licence be a 10-year licence. We said we want you to create jobs,” Chidhakwa said.

Chidhakwa said there are more than 20 companies in the diamond polishing and cutting business that have equipment.

Chidhakwa said government was looking at the expertise that it has and will be able to have its first makeshift diamond exchange this year.

“We will identify a place or go to the Minerals Marketing Corporation of Zimbabwe and set aside rooms. We need rooms where people can view the diamonds.

“We are putting together expertise after two or three or more visit we can put up something.  We will try our auction in July, August. We will invite 150 companies,” he said.

Chidhakwa said the government is looking forward to setting up a diamond exchange in Mt Hampden as they were not happy with the current set-up where the diamond polishing companies are located everywhere.

“We need to have a diamond exchange where you market diamonds and open little factories. That is the intention. We have already seen the land. We will do it in the new city Mt Hampden,” he said.

He said the government would continue to engage players in the mining sector over the taxes they are being charged by Treasury so as to seek a balance between the two.

“I think there are pros and cons   to the whole idea. There is always a need to ensure our companies are cost-competitive. Governing is about balancing these needs and being able to ensure that each and everyone benefits,” he said.

Meanwhile, a two-day mining beneficiation conference will be held in Victoria Falls next week   and  regional  ministers are expected to attend the meeting.

Govt to resuscitate mines

GOVERNMENT has embarked on a programme to rehabilitate closed mines as a way of bringing hope to the lives of people in deserted mining areas.

Addressing journalists in Harare yesterday, Mines minister Walter Chidhakwa said there was need to resuscitate mines like Shabani-Mashava Mines (SMM) where thousands of employees have been rendered jobless.

“Resuscitation of SMM will resuscitate Zvishavane. A combination of platinum and asbestos will do something about the economy of those people in Zvishavane,” Chidakwa said.

“The responsibility we have is not just to create new capacity in terms of new mines, but a responsibility to open those that are closed. It is a programme we are working on. We will be telling you which one will be resuscitated.”

SMM produce close to 200 000 tonnes of asbestos fibre a year. In 2012, government invested $10 million into the mines in a bid to rehabilitate them.

Chidhakwa said several prospective investors had expressed interest in reopening Kamativi and Mhangura mines.

He said the other mines that needed to be resuscitated include Sabi, Jena and Elvington mines.