‘Mat North ready for ownership trusts’

once the dates are announced.
Speaking during celebrations to mark Makomo Resources’ second anniversary, Dr Mpofu said local communities in the province would have  a 10 percent stake in the mining firms.
These include Hwange Colliery Company Limited, Duration Gold Limited, Bubi Mine and Mutapa Resources Holdings Limited.
Dr Mpofu said Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere had accepted the proposed share ownership structures.
“We are ready to launch the schemes,” said Dr Mpofu. “We are waiting for the exact date from His Excellency.
“The ownership schemes are for Hwange and the province in general.”
The minister said Matabeleland North Province was poised for meaningful development as local people would benefit from mineral resources in their area.
Matabeleland North has vast deposits of coal and coal bed methane which produces gas.
“Meaningful development is coming to the region for the first time in the history of mining, due to policies put in place by the Government through the leadership of President Mugabe,” he said.
“We also believe that those lying about indigenisation will witness real direct empowerment.”
Matabeleland North, Masvingo, Mashonaland Central and East provinces are the remaining provinces still to have community share ownership trusts launched.
To date, Community Share Ownership Trusts have been launched in Chegutu, Mhondoro-Ngezi, Zvimba, Gwanda, Shurugwi, Zvishavane and Marange.  The trusts are a countrywide Government initiative to spearhead development and empower rural communities through giving them a 10 percent stake in all businesses that exploit natural resources in their areas.
Meanwhile, Dr Mpofu said Government would withdraw the licences for mining companies in Hwange area that have failed to operate more than two years after being granted mining grants.
He said the Government had sent reminders to the companies to start operations, or lose the licences.
Government awarded mining grants to 18 companies in 2010, but less than five were operating.
“We are considering revoking their licences because they have done nothing,” he said. “We have sent several reminders for them to perform but they have not responded.
“If you are not doing anything, then you must consider yourself out of this business.”
Minister Mpofu said Government wanted to develop the country in a sustainable and progressive manner, hence the need for companies to produce.
He urged companies to contribute to the development of the areas in which  they operate. — New Ziana-Business Reporter.