adminZimbabwe has three companies that mine platinum — Zimplats, Unki and Mimosa.
The Zimbabwe Government has since raised concern about the untaxed export of by-products refined from platinum, so the ban of exports of raw exports would force platinum mining companies to set up refineries.
Platinum by-product minerals for export such as gold and vanadium, are not taxed by the Government.
Mines and Mining Development Deputy Minister Gift Chimanikire told New Ziana the withdrawal of export permits was in line with a Cabinet resolution that all minerals should be value added.
“We do not need legislation to ban exports of raw platinum because Cabinet has already resolved that the mineral should be value added so that miners are compelled to set up refineries.
“We need to enforce the framework. We will stop issuing export permits in line with the Cabinet resolution,” he said.
In April this year, the Government banned exports of chrome ore to promote value addition.
However, low smelting capacity in the country and low local demand appear to be defeating the purposes of the move as miners are stuck with huge stockpiles of the mineral.
The Zimbabwe Miners Federation, an association of small-scale miners, says besides major chrome miners Zimasco and ZimAlloys, there are more than 450 chrome miners in the country.
Zimbabwe has the largest platinum reserves after South Africa.
The country also boasts of huge deposits of gold, diamonds, nickel and coal. — New Ziana.
Online Reporter