Zim lures mining investors

CAPE TOWN — 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 previous regime to deter investments.

CAJ News

Presiding over the Mining in Zimbabwe Dialogue in Cape Town on Tuesday, Winston Chitando, the Mines and Mining Development minister 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 on the sidelines of the Africa Mining Indaba, Chitando said among the major measures government had initiated was easing the indigenisation policy, which means that diamond and platinum would have to adhere to the 51:49% thresholds.

“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 was largely believed.

“The fact of the matter is that Zimbabwe is underexploited. The exploration was done largely before modern exploitation techniques,” he said. —

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