Government says commendable progress has been made in the crafting of the Precious Minerals Policy, which seeks to maximise the benefits derived from exploitation of the countryâ€™s precious minerals.
The enactment of the policy is expected to provide clarity on investment in precious stones such as diamonds and emeralds, readdress the current tender system for procuring mining equipment, licensing issues, licensing time frame and deal with some of the shortfalls in the current Precious Stones Act.
Mines and Mining Development Minister, Cde Obert Mpofu expressed optimism that the policy will ensure equitable distribution of the countryâ€™s mineral resources and align the mining activities in the country with the on-going indigenisation and economic empowerment drive.
“We are craftnig the policy and in the process, we will make sure that all stakeholders are consulted to ensure that there will be an equitable distribution of the mineral resources,” said Cde Mpofu.
Apart from the Precious Minerals Policy, the Mines and Minerals Bill that is expected to be tabled in parliament is meant to comprehensively revise mining industry regulations with a view to realigning the laws with the changing operating environment.
Concerns have been raised by stakeholders in the mining industry over the unfriendly regulations inherited from the colonial era, which do not consider the involvement of indigenous people in the exploitation of the countryâ€™s resources.