BILL SET TO BOOST MINING SECTOR

Tanaka Mahanya

THE Mines and Minerals Bill is expected to promote more favourable conditions for miners and attract more investment into the sector.

Speaking during public consultations of the Bill, Parliamentary Portfolio Committee on Mines and Mining Development chairman, Edmond Mkaratigwa, said the bill will solve problems that were being faced by miners and investors.

“The Mines and Minerals Act applicable right now is old as it was established in 1961.

“The only time it was reviewed was in 1996, and just a few sections were attended to.

“It was designed for a very small population in the country and these were the elite.

“In terms of economic emancipation, concerns have been raised by the general populace that they also want to be involved, hence they requested that we review the law to make it pro-indigenous,” he said.

He said there are large scale mining houses, and a lot of international investors, who are interested in participating in the mining sector.

“For us to continue enjoying the export proceeds that are important to our economy, as a country, we need to continue to attract foreign direct investment.

“As we review the Mines and Minerals Bill, we should ensure that it continues to be pro-investment.

“In the new Bill are issues to do with transparency and accountability, bringing certainty to the mining sector, and trying to ensure that there is rationalisation of fees,” he said.

He said a lot of stakeholders in the mining sector had always complained that they are over taxed and overcharged.

“When we are done with the enactment of the Mines and Minerals Bill, we hope to ensure that there would be confidence building and restoration, which is pro-investors, and do justice to the issues that should be addressed.”