Jun 04, 2018

Zimbabwe Amends Mining Law: Overseas Mining Companies Won’t Need to List Locally

An amendment introduced by the Zimbabwean government to the mining law to remove clauses that made it mandatory for overseas companies involved in mining activity to list themselves locally has been passed by Parliament, according to local media reports.

New agency Reuters reported the change based on the records of the proceedings of the country’s Parliament.

The agency said that the newly amended law also has a provision under which the mining ministry may, in consultation with the President, designate a mineral as being of strategic importance, keeping in mind the interests of the development of the mining industry. Such a move would give the government greater say in the mining of the mineral, the reports stated.

These amendments were carried out following an assurance from the Minister of Mines Winston Chitando, who had recently said that the old clauses were creating panic among foreign mining firms and hampering the government’s aim of opening the economy to attract international investors.