GOVERNMENT has liberalised all mining investments including
the diamond and platinum sectors after it scrapped the previous indigenisation
regulations, which drove away investors, President Emmerson Mnangagwa said
yesterday.
He was clarifying perceived myths about the indigenisation
policy following request for clarity during a briefing here with Anglo American
Platinum executives on the sidelines of the commissioning of the Unki Mines $62
million smelter plant.
President Mnangagwa explained that his administration had
removed all bottlenecks around the previous empowerment policy, which was a
headache to many investors under former President Robert Mugabe era.
“When we were having a briefing earlier on, Unki management
raised the issue indigenisation and in particular with regards to platinum. It
is true that when we changed policy on indigenisation we said platinum and
diamond will remain until a new policy relating to those two minerals is
pronounced.
“We did so last year in September and October, possibly the
Unki management did not catch up with events. Platinum and the diamond sector
are also now affected by the scrapping of indigenisation regulations,” said
President Mnangagwa amid applause.
“We have liberalised investment and there are no
restrictions on shareholding in the mining sector by foreign investors. This,
therefore, means that in the mining sector foreign investors have unrestricted
shareholding. We would like free partnerships as outcomes of negotiations
between investors and other local partners. Investors are also free to choose
to partner locals on mutually beneficial and agreed conditions.”
President Mnangagwa said his Government remains committed
to working closely with the private sector and other partners for the
sustainable development of the whole value chain industry in the mining sector
and other key segments of the economy. As such, he said the new dispensation
will continue to implement a raft of measures and institute reforms aimed at
reducing the cost of doing business.
“This includes creating a more favourable investment
climate by removing bottlenecks that undermine inflow of capital. As you are
all aware global capital goes to where it feels comfortable,” said President
Mnangagwa. Herald
0 comments:
Post a Comment