ZMDC to get priority

 

According to the Draft Minerals Policy this will be done to increase ZMDC’s contribution towards the development of the country’s mining sector.

The ZMDC was established to invest, plan and co-ordinate mining development projects on behalf of the State and to engage in exploration and mineral beneficiation programmes.

It is also tasked with advising the Minister of Mines on all matters connected with corporate investments in the mining industry and to review the general economic conditions and prospects of the mining industry so as to make recommendations for the proper co-ordination of all investment pro-grammes.

“Government undertakes to review this mandate in light of the new Minerals Policy, with a view to it becoming a key State institution for facilitating both strategic minerals development and the development of the crucial mineral economic linkages,” reads part of the draft.

“Government will also assess the efficacy of giving the ZMDC a three-month first sight window on all new State-financed geological data (geo-survey maps and data) to enable it to reserve potential deposits of designated strategic minerals.”

The ZMDC is currently involved in mining projects ranging from gold, diamonds                                 asbestos and is currently in the hunt for investors to revive operations at Kamativi Tin Mines.

Over the years, despite various constraints, the parastatal has managed to contribute significantly to Government coffers having paid to Treasury at least US$300 million in dividends between August 2011 and September last year.

Most of its revenue is derived from operations in the Marange diamond fields were exports from the four mining companies operating in that area reached US$684 million.

The ZMDC holds shares on behalf of Government in Mbada Diamonds, Anjin, the Diamond Mining Corporation while it is the sole shareholder in Marange Resources.

Analysts contend that the parastatal could perform better if it was removed from the EU sanctions list which has hindered it from accessing European markets for its mineral produce, particularly diamonds. — New Ziana.