Published by the government of Zimbabwe
12 May 2009
Harare — Government has been urged to finalise the Mines and Minerals Amendment Bill to create a policy framework that boosts investor confidence in the mining industry.
An affiliate of the Chamber of Mines, Geo Associates managing director Paul Chimbodza said it was important for the country to have an enabling legal framework to lure investors.
The Mines and Minerals Amendment Bill has been tabled in Parliament for over five years and remains to be passed into law.
"There is need for speedy resolution (of the Bill) as it should include policies that stimulate current and future investment while supporting existing investors and operators," he said.
"The reviewed Act should encourage long term investments in the mining industry," he added.
Chimbodza was addressing participants to a one-day mining workshop organised by the Chamber of Mines last week. He said there was also need to include new mining organisations on the Mining Affairs Board, which deals with mining rights.
"We are lobbying for the inclusion of Zimbabwe Miners Federation, Youth in Mining and Environment Trust, Women in Mining and other players," he said.
Speaking at the same workshop, Chamber of Mines immediate past president Jack Murehwa echoed Chimbodza's sentiments, saying a speedy resolution of the Bill would encourage more mining deals.
He said investors whether foreign or local should be assured of investment returns through enabling mining policies. "Policy uncertainty should be reduced to minimum so that the mining environment becomes friendly," he said.
The economy and Zimbabweans in general, Murehwa said, should benefit from the country's vast mineral resources. Zimplats chief executive Alex Mhembere said attractive mining laws help to lure investors.
Government should also minimise delays in processing applications, registration and inspection of mines to avoid inconveniencing investors, he said. Mining experts rank the Mines and Minerals Act as one of the best on the continent but are against the proposed 51 percent shareholding reserve for local people.
New Ziana
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How the country expects to get anyone to believe there is the rule of law with Mugabe still in power is beyond me. You have a crook and thug with a big band of thieves who've stolen the country blind and ignored the rule of law - so until they go (or better get removed permanently) Zimbabweans will have to suffer.
What a legacy Mugabe leaves - a wonderful country has been brought to its knees.