Friday, March 16, 2012

(NEWZIMBABWE) Zimbabwe to repossess idle mining claims

Zimbabwe to repossess idle mining claims
16/03/2012 00:00:00
by NewZiana

ZIMBABWE will repossess mining claims which are lying idle in order to make room for new players and investments, a senior government official has said. More players would widen revenue base through tax collections, Mines and Mining Development Ministry Permanent Secretary, Prince Mupazviriho has said.

"There is a lot of land being held by these large mining companies and some local individuals," he added. Mupazviriho said the government was committed to empowering locals and therefore all under-utilised land should be made productive.

"We are working under sanctions and thus we need to come up with our own solutions to the liquidity challenges," he said.

He said mining was given the task of resuscitating the Zimbabwean economy and hence there was a need to increase production.

"If we work together and increase production, the 15 per cent growth projected for 2012 will be achieved," he added.

Mupazviriho said the government would, through the Mining Loan Fund, assist small-scale miners with working capital and equipment to develop the sector.



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