Zimbabwe government issues three-year special minerals grant

THE government has issued a three year special grant for a joint exploration between the Mines ministry and New Zim Minerals in a bid to allow full disclosure of iron ore deposits at Mwanesi, Mines secretary Prince Mupazviriho has said.

Report by Tarisai Mandizha

Speaking before the Parliamentary Portfolio Committee on Industry and Commerce, Mupazviriho said the government was carrying out a study to evaluate the value of iron deposits in Mwanesi amid indications that the $750 million Essar Africa Holdings deal could soon be finalised.

“We are going into a joint exploration once we have established what it is (beneath) and once that has happened, it is now up to that company to apply for a concession licence to do mining,” Mupazviriho said.

He said New Zim Steel will take over mining claims owned by Zisco Steel and Bimco once the ministry transfers the mining titles to the company.

“We are waiting for them to come and pay for the transfer fees. Once that is done the transfer will be done,” Mupazviriho said.

“We have got responsibility to append any signature to the agreement. No, the agreement is between our sister ministry and Essar, but the responsibility as a ministry is to give mining title.”

Last week a five-member delegation was expected to travel to Redcliff to spearhead the resuscitation of New ZimSteel.

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