Government has suspended the cancellation of Blanket Mineâ€™s operating licence pending submission of a compliant indigenisation implementation plan.The decision by government was reached after days of intensive negotiations with the mining firm.
The meeting came about after disagreements over Blanket Mineâ€™s indigenisation implementation plan.
The plan failed to meet required standards and government rejected it and started moves to cancel the mineâ€™s licence.
The mine is a subsidiary of Caledonia Mining Corporation of Canada.
In a joint news conference held in the capital, Minister of Youth Development, Indigenisation and Empowerment, Cde Saviour Kasukuwere said they have agreed on a new plan which will allow an independent evaluation of the mineral resources and plant equipment at the mine.
Caledonia Mining Corporation president, Mr. Stefan Hayden said his organisation engaged government to create a better understanding as the country is a safe haven of investment.
Mr. Hayden added that other stakeholders should come on board to engage with government as it is approachable.
Caledonia is a Canadian firm listed on several stock exchanges, with a portfolio of exploration, development and mining assets in Southern Africa.