Home Mining Investment Inquiries Rise As Govt Plans To Remove Indigenisation Policy.

Investment Inquiries Rise As Govt Plans To Remove Indigenisation Policy.

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The Chamber of Mines of Zimbabwe has revealed that they are receiving a lot of inquiries from potential mining investors following government’s efforts to scrap the remaining 51/49 percent shareholding threshold for platinum and diamond mining to allow investors to own 100 percent of any business in the sector .

According the CoMZ president Batsirai Manhando, the chamber has received a lot of inquiries from prospective miners.

“Yes we have heard from the Minister (Winston Chitando) himself announcing some projects which came on board .

“Most of the guys are coming in because of the removal of the 51/49% and as chamber there have been lots of inquiries from potential investors that they want to come and invest in Zimbabwe though we haven’t realised the potential of that in terms of people actually coming, but we are getting lots of inquiries” he said.

Government amended the indigenisation and economic empowerment regulations in 2017, and only restricted majority ownership by locals to the to platinum and diamond mining entities.

In a televised interview with Bloomberg recently, Minister of Finance and Economic Development Professor Mthuli Ncube indicated that government will scrap the law which is discouraging foreign direct investment.

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