MINES and Mining Development deputy minister Fred Moyo has revealed that his ministry was in the process of establishing a computerised mining title management (cadastre) system to offer security of tenure to investors.
BY VENERANDA LANGA
Moyo told Parliamentarians last Wednesday that the new system would help modernise the sector.
“Such a system will result in the modernisation of the mining title management system in line with regional and international best practices to provide for a faster and more efficient system which also offers security of tenure to investors,” Moyo said.
“The computerised system will eliminate possible double allocation of mining title to investors which has resulted in numerous disputes,” he said.
He added that his ministry was also expediting the finalisation of amendments to the Mines and Minerals Act which had been in the pipeline for several years. “A draft Bill is in place which is going through stakeholder consultations and our hope is for it to be brought to this current session of Parliament. Finalisation of the amendments will bring confidence to investors who have adopted a wait and see attitude.”
He said once finalised the amendments will culminate into repeal of the current Mines and Minerals Act.
Other government initiatives being pursued to lure investors included decentralization to reduce bureaucratic red tape and turnaround time in attending to potential investors. Moyo said they also had plans to provide modern equipment to the Zimbabwe Geological Survey department.
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“The department recently received financial support from the African Development Bank which was used to acquire state of the art geological and cartographic equipment. This equipment will enable the Geological Survey to produce more detailed, accurate and credible geo-scientific information and maps which will bring investor confidence in the mining sector.”
He added that plans were afoot to revise mining fees downwards to attract investors.
