Zimbabwe To Only Issue Mining Rights To Listed Companies

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Published Aug 17, 2016

Zimbabwe will only issue mining rights to companies listed on the local stock exchange and will not allow the export of raw minerals without ministerial approval. According newly proposed laws, holders of mining rights would also be required to use banks registered in Zimbabwe as the government seeks to have greater oversight on finances generated in the mining sector. The government would no longer allow the export of raw minerals unless with written approval of the mines minister, the draft law said. Minerals like gold and silver would only be exported in refined form as Zimbabwe seeks to get more local involvement and jobs from the mining sector.