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Zimbabwe crafting new diamond, platinum policy

Xinhua,April 06, 2018 Adjust font size:

HARARE, April 6 (Xinhua) -- The Zimbabwe government is working on a new diamond and platinum mining policy to replace the 51-49 percent shareholding requirement currently regulating the two minerals, President Emmerson Mnangagwa has said.

He told investors in China Thursday that the policy was impacting negatively on diamond and platinum production, hence the need to review it urgently, the sate-controlled Herald newspaper reported Friday.

Mnangagwa last December scrapped the controversial policy on all other minerals and sectors of the economy except on platinum and diamond as his new administration seeks to lure foreign investment to boost the economy.

He said the new policy was expected to create a win-win situation in production of the two minerals that have huge potential to generate more foreign currency for the country.

Zimbabwe has the world's second largest known platinum reserves after South Africa.

"Very soon we should be able to come up with a new policy to govern these two," Mnangagwa was quoted as saying by the newspaper. Enditem

 

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