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undeveloped mining claims.
A mining sector rationalisation programme has also revealed that opportunities exist, mainly in diamond, platinum, chrome and gold mining.
In an interview with Herald Business last week, the Minister of Mines and Mining Development Obert Mpofu said some claims were being held for speculative reasons.
He said Government would now act to withdraw the claims.
“We have made significant progress in streamlining the sector by acting against those holding on to excessive claims purely for speculative purposes,” he said.
“There are still opportunities for new investors keen on areas such as diamond, gold, chrome and platinum.”
The Government has been conducting an audit of the industry after it was noted that a number of big mines were holding on to mining claims, with indications that some of the claims were being passed on to illegal panners.
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For instance, it is believed that more than 300 illegal gold panners are operating in the gold-rich Shurugwi area, in the Midlands
The twin effects of their operations could include environmental degradation and loss of revenue to the State.
The effect of big mines owning a large number of mining claims has also had the effect of Zimbabwe being largely constituted by small mines.
Experts contend that such instances (a large number of small disparate mines) are notoriously inefficient as they fail to take into consideration the geological setting and the potential of the mineral deposits.
Minister Mpofu was speaking after engaging a delegation of foreign mining investors who were part of the Zimbabwe Mining Indaba held last week.
He said the on-the-ground experience had benefited the group of investors by curbing their prior misconceptions of the local mining environment.
“Concerns by the team of foreign investors from the United States and the European Union, particularly, related to security of investments and the implications of the indigenisation programme being peddled by international media.
“They have had their own evaluation of the Zimbabwe mining situation and I believe their concerns have been eased,” he said.
Online Reporter