obert mpofu 01-11-10.jpgGovernment has raised concern over mining firms that are not contributing to the national fiscus, saying every mining company should account for its operations.

The concern raised by government comes amid indications that established mining houses are contributing insignificant amounts to the fiscus.

In an interview with ZBC News, Minister of Mines and Mining Development, Cde Obert Mpofu said the government is worried about this trend as only two diamond mining firms have contributed over US$171 million to the national fiscus.

“New mining firms have contributed seven times higher than traditional mining companies hence there is a deliberate move by government to ensure that mining houses account for their operations,” said Cde Mpofu.

Minister Mpofu also warned mining firms that are holding on to mining claims for speculative purposes indicating that they are set to lose the claims under the ‘Lose it – Use it’ concept, which will pave way for new players who are willing to exploit the resources.

The failure by the mining sector to contribute significantly to the national fiscus has been attributed to the country’s mining and taxation laws hence the call for amendment of the laws.

Information shows that mining firms are holding on to claims in gold, platinum, coal and methane gas.