chindori chininga edward chindori chininga 29-08-11.jpg 2.jpgThe Parliamentary Portfolio Committee on Mines and Energy says there is need for the speed amendments of the Mines and Minerals Act to pave way for the implementation of the Use It-Lose It concept.

The Use It-Lose It concept was adopted by government last year after realisation that most mining claims are being held for speculative purposes without any major operations taking place thereby blocking new investors to the sector.

In an interview with ZBC News, the Chairman of the Parliamentary Portfolio Committee on Mines and Energy, Cde Edward Chindori Chininga said the Use It-Lose It concept is critical towards attracting new serious investors, hence the need to conclude the amendments of the Mines and Minerals Act which will ensure that the concept is implemented.

Government is currently concerned over the number of mining claims that are underutilised.

The local mining industry has attracted a lot of attention from international investors in diamond, gold, platinum and chrome among others mineral deposits.