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Dumisani Nsingo, Senior Business Reporter
THE Ministry of Mines and Mining Development has said there is need to capacitate the Mineral Exploration Promotion Corporation (MEPC) as well as to formulate an Exploration Policy so as to quantify the country’s mineral resource and govern extraction.
Mines and Mining Development Deputy Minister Fred Moyo said the ministry will soon hold a meeting with the Geological Society of Zimbabwe members to enlighten them on the role to be played by MEPC as well as the prospect of formulating an Exploration Policy.
The Government is working to transform the Minerals Marketing Corporation of Zimbabwe (MMCZ) into an exploration company, MEPC, which would be funded from part of the revenue generated from minerals sales.
MMCZ was established through an Act of Parliament and began operations in March 1983.
It is a parastatal and falls under the ambit of the Mines and Mining Development ministry.
At present it is exclusively into marketing and selling of all minerals produced in Zimbabwe except silver and gold.
“What we are working on is the issue of capacitating the exploration company (MEPC). I am actually arranging that the Minister (Walter Chidhakwa) addresses all the country’s geologists through their association (GSZ) to enlighten them that we have formed an exploration company and assist us to formulate an Exploration Policy because it’s one thing to form an exploration company but it’s another thing to form a policy.
“When that company is in place what should it be doing, what are its priorities, which minerals to do and then in what manner? So that policy must come up where Government says the whole focus should be this, so that’s the area we are to look at,” Deputy Minister Moyo said.
Mineral exploration is the process by which companies or organisations seek to discover commercially feasible concentrations of mineral resources.
Exploration can be as simple as analysing rock types and soil characteristics or as complex as various forms of drilling and excavation.
Mineral exploration can uncover information that will attract foreign investment and also strengthen the value of mines and claims already in indigenous hands and other mining firms, especially multinational companies often accused of swindling African governments.
Deputy Minister Moyo acknowledged that big mining houses had geological data of their mineral reserves but hinted that there was a need to come up with a national map of all the country’s wealth.
“The companies already do their own exploration, they have their own data of geology and we are trying to create a national one. So we want to say to the companies, this is what we want to do as Government, can we know what you are doing, what we have used and consolidate this and get our national companies to be part and parcel and then help us to drive otherwise we will end up having a dislocation,” he said.
Zimbabwe Miners Federation chief executive officer Mr Wellington Takavarasha said miners were aware that the Government was seeking to come up with a number of policies aimed at improving the mining sector.
“We are aware that the Government intends to come up with a number of policies and these include the Minerals Exploration, Pan-African Minerals University of Science and Technology (Pamust) and Mines and Minerals Bills.
“The exploration bill seeks to guard against the sporadic discoveries of minerals. We have about 60 mineral resources in the country but their value isn’t known thus coming up with MEPC will enable us to unlock the real value of our minerals,” said Mr Takavarasha.
@DNsingo
Online Reporter