adminFarirai Machivenyika recently in Vumba
Government is working on a Statutory Instrument to reduce fees and charges in the mining sector and will in a fortnight flight tenders seeking investors to partner the Zimbabwe Mining Development Corporation (ZMDC) in resuscitating its gold mines.
This came out during a workshop on mining sector legislation between the Parliamentary Portfolio Committee on Mines and Energy, Ministry of Mines and Mining Development and stakeholders in the sector. Secretary for Mines and Mining Development Mr Munesu Munodawafa acknowledged that fees being charged were discouraging investors.
“In the mining sector there were a number of unhygienic factors that were identified as militating against the attainment of the true value of the mining sector. There are fees and charges which are out of line, for example in the diamond sector which was $3 000 per hectare, although it has been reduced to $225 per hectare,” he said.
“Right across the board we are dealing with the issue of fees and charges and soon there would be a statutory instrument addressing that.” Mining houses and prospective investors have raised concerns with the fees, taxes and royalties, saying they were too high as compared to other countries in the region. Mines and Mineral Development Minister Winston Chitando said tenders for partnerships would be advertised in the next two weeks.
“ZMDC is sitting on a number of assets and Government would want to see those assets in operation. There are a number of assets which we are targeting and once again you will see in the next two weeks tenders for partnerships with the ZMDC on a number of these projects,” he said.
Online Reporter