Maravi

(NEWZIMBABWE, REUTERS) Zim sets up mine exploration firm

Zim sets up mine exploration firm
by
16/09/2009 00:00:00

ZIMBABWE plans to set up a mining exploration company soon to explore for minerals in areas of the country considered to be high risk by foreign investors, the mining minister said on Wednesday.

Mining Development Minister Obert Mpofu also told an investment conference in the capital Harare the country's new mine law -- due to be debated soon in parliament -- would ensure that mining companies receive operating licenses quickly.

"The ministry will soon complete the establishment of an exploration company for the exploration of areas considered high risk by investors," Mpofu said.

He said the country was determined to transform its mining industry into a competitive destination for investors. Zimbabwe has had no meaningful exploration for the last decade while some of the foreign mining companies operating in the country have held back on expanding projects.

Two hundred foreign investors gathered for a two-day mining conference in Harare to discuss opportunities in the country's mining sector.

President Robert Mugabe and Prime Minister Morgan Tsvangirai will address the conference, titled "Reviving Zimbabwe's Mining Sector, Clear Way Forward".- Reuters

Labels: COLOUR REVOLUTIONS, MINING, NEOCOLONIALISM, OBERT MPOFU

posted by MrK @ 4:32 PM