Zimbabwe aims to amend mining law and attract new investors

Source: COASTWEEK

HARARE Zimbabwe (Xinhua) -- The Zimbabwean government said on Monday amending the mining law has become urgent to bring new changes that will go a long way in stemming the shortcomings of the outdated legislation.

Zimbabwe mines minister Walter Chidhakwa told legislators that the Mines and Minerals Amendment Bill of 2015 was now in place and due to be tabled in parliament for debate.

"The Amendment of the Mines and Minerals Act is now a necessity rather than a choice since it addresses the shortcomings of the current archaic Act in place by aligning it to the aspirations, demands and expectations of Zimbabweans against a background of global best practices," Chidhakwa said.

The country’s Mines and Minerals Act was crafted during the colonial era in 1963 and now needs to be overhauled to bring it in line with new developments in the mining sector.

Amendments to the Act have been in the pipeline for several years now, but nothing tangible has been done.

If the Act is amended, it is likely to promote investment and sustainable development as it will guarantee security of tenure and aid efficient use of land, as well as solve land conflicts between miners and farmers.

The civil society has suggested that an amended Mines and Minerals Act should include clauses on small-scale and artisanal miners, rural communities affected by mining activities, corporate social responsibility by mining companies, and rehabilitation of the environment after mining activities.

Other main features of the amended law include reviewing the mining titles administration system and reforming the mines affairs board.

The amendments also seek to engender security of tenure and effective environmental management best practices.

Security of tenure will be key to attracting potential investors in the sector after government last month closed operations of six diamond mining companies in Chiadzwa, and gave them 90 days to remove their equipment because they had refused to merge their operations into one entity majority owned by government.

Some of the firms have since taken government to court, challenging their forced eviction from the fields.

Mining is strategic to Zimbabwe as it presently accounts for more than 50 percent of exports and is a major source of Foreign Direct Investment.

The mining sector has been largely weighed down by skewed policies that have hindered growth of smaller miners.

Amending the legislation would ensure loose ends on the existing Act are tied, spurring further growth in the sector.

| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |



Tanzanian president splits energy and mining in ministry shake-up

  1. DAR ES SALAAM, Oct 7 (Reuters) - Tanzanian president John Magufuli split the energy and minerals ministry in two and appointed heads for the new ministries on Saturday, five months after sacking the p…
  2. {read by 35 people}


Tanzania: One Killed, Another Cheats Death Following Mine Accident in Geita

  1. Geita - A small-scale miner has been killed after he was trapped in a collapsed mine at Lwamgasa Village in Geita Rural District on Tuesday. The body of the victim was found Thursday following resc…
  2. {read by 19 people}


Tanzania to auction tanzanite from its source to curb smuggling

  1. Tanzania is expected to auction tanzanite in the mining site of Mererani on Saturday in efforts to sell the gemstones on its source to make the east African nation benefit from its natural resources. …
  2. {read by 35 people}


Two die in attack to Avocet Mining's convoy in Burkina Faso

  1. West Africa-focused Avocet Mining said Wednesday that two paramilitary police officers were killed and other two suffer injuries after unknown aggressors assaulted a convoy carrying fuel to its Inata …
  2. {read by 51 people}


Congo reinstates VAT on imports for mining companies

  1. KINSHASA, Aug 12 (Reuters) - Congo has reinstated a value added tax on mining company imports, the chamber of mines said on Saturday, part of what miners say is a deteriorating business climate in the…
  2. {read by 54 people}


Ghana's gold, diamond output to drop as govt curbs small-scale mining

  1. PANAJI, India, Aug 12 (Reuters) - Ghana's gold output is likely to drop sharply in 2017 because of curbs on the small-scale mining that lifted production last year but was causing damage to the enviro…
  2. {read by 130 people}



khjg