HARARE — Zimbabwe’s mines chamber on Saturday says it has no concerns over a new law which allows the State to seize unutilised mining claims with effect from January 2017, as long as the process is orderly.
Zimbabwe said idle mining claims will be forfeited to the State after a period of three years beginning this month. It contends that the policy, announced by finance minister Patrick Chinamasa in his 2014 budget presentation last month, would quicken the pace of development in mining.
Several mining conglomerates, among them the local unit of South Africa’s Implats, the second largest platinum producer in the world; Zimasco; ZimAlloys; Falcon Gold and Caledonia Mining Corporation among others are believed to be holding on to large tracts of unutilised mining claims, particularly along the 600km Great Dyke and other mineral-rich parts of southern Zimbabwe.
“In situations where resources are not fully utilised, then plans to bring to production will be pursued. The Chamber of Mines supports an orderly and development focused initiative to improve the economic development of the country and its people,” Chamber of Mines president Alex Mhembere said in an e-mailed response to questions from The Source.
“We believe that if policy changes are communicated adequately and any possible grey areas clarified, it should not result in material erosion of investor confidence.”
Small-scale miners have come out in support of the measure, which they say open up opportunities for new players in the industry.
“There are big mining companies which have been paying protection fees yet there are not working on the claims,” Wellington Takavarasha, an association for small scale-miner, said.
“This measure is a way of getting more people empowered.” — The Source
