|Minerals Act amendment delayed|
|Monday, 14 May 2012 18:36|
The final draft of amendments to the Mines and Minerals Act is expected to be published this July following delays in the conclusion of the draft.
The draft amendments are now before the Cabinet after which they will be presented to the House of Assembly.
Presenting oral evidence before the Parliamentary Portfolio Committee on Mines and Energy, Mines and Mining Development Minister, Cde Obert Mpofu said the amendments have gone through most of the required stages, adding that delays to finalisation of the draft were caused by issues that had arisen as a result of the development of the mining sector as well as the need to synchronise the Mines and Minerals Act with the new diamond policy and the Precious Minerals Act.
On the issue of mining fees that were hiked in January by over 1000%, Minister Mpofu said the move had been necessitated by a lot of speculative tendencies by owners of mining claims without any real production.
He however said concessions will be made for small scale miners though nothing will be changed for big players.
Mines and Energy Portfolio Committee Chairman, Cde Edward Chindori Chininga however expressed concern that nothing is being done to curb revenue loss in the mining sector.
He also expressed concern that no assessment of Zimbabwe’s total mineral worthy has been carried out by locals despite foreign companies having knowledge of such information following their own explorations.