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Zim starts own mining firm

Aug 16 2011 07:30 Sapa

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Harare - Cabinet in Zimbabwe has approved the draft framework for establishing a company to spearhead exploration of minerals throughout the country, Zimbabwe's Herald Online reported on Tuesday.

The company, to be called the Zimbabwe Mineral Exploration Corporation, would enable the government to know the extent of the country's mineral wealth and reap maximum benefits from the resources.

Mines and Mining Development deputy minister Gift Chimanikire told New Ziana that the Attorney General's office was now drafting the Statutory Instruments needed to give legal effect to establishment of the company.

"We have taken the matter before the cabinet committee on legislation and it has been approved," he said.

"Now we are waiting for the AG's office, which is currently working on drafting the necessary statutory Instruments. Once the AG is done... we will then float a tender for partners because we need a private player to partner us."

Chimanikire was, however, unable to give a timeline when the company would be operational.

      
zimbabwe  |  mining
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