Minerals Varsity Bill now law

Julia Mugadzaweta Herald Reporter—-

President Mugabe has signed into law the Pan African Minerals University of Science and Technology Bill, which seeks to establish a tertiary institution of higher learning dedicated to training experts for mineral beneficiation, a development that would enhance Government’s economic blueprint, Zim-Asset.

This comes as Finance and Economic Development Minister Patrick Chinamasa has concluded a $7,6 million loan agreement with OPEC Fund for International Development, aimed at increasing food production in the country.

The notice of the signing of the Pan African Minerals University of Science and Technology Bill was made by Chief Secretary in the Office of the President and Cabinet Dr Misheck Sibanda in a Government Gazette published yesterday.

“The following law, which was assented to by His Excellency, the President, is published in terms of Section 131(6) of the Constitution of Zimbabwe, Pan African Minerals University of Science and Technology Act [Chapter 25:33] (No. 9 of 2016),” reads the notice.

The Pan African Minerals University of Science University of Science and Technology would be established as a Nelson Mandela Institute of Excellence dedicated to the teaching and training of very high calibre mineral professionals in mineral beneficiation and value addition for the African continent.

Some of the objectives of the Pan African Minerals University of Science and Technology Bill are to provide for a tertiary institution offering highly advanced postgraduate courses and research in mineral value addition and beneficiation, and related minerals studies.

The five initial programme areas to be offered would be geo-sciences, mining engineering, extractive metallurgy, materials science and engineering and any other programmes consistent with the mandate of the institution.

Meanwhile, Minister Chinamasa has announced in the same Government Gazette the conclusion of the $7,6 million loan agreement.

“It is hereby notified that, in terms of Section 300(3) of the Constitution of Zimbabwe, on the 17th of August, 2016, Zimbabwe, represented by the Minister of Finance and Economic Development, concluded a loan agreement with the OPEC Fund for International Development (OFID) on the following terms:

(a) the loan is the amount of seven million six hundred thousand United States dollars (US$7 600 000);

(b) the period of the loan is 20 years, with the grace period of five years at an interest rate of one and half percent per annum, and a service charge of one percent on the outstanding principal amount;

(c ) the loan will be utilised for the purpose of eradicating poverty through value enhancement of local resources, foster income diversification and increased food production to the beneficiary households,” read the notice.