Govt Should Remove 51-49 Percent Law For Diamond, Platinum Sector As Well: Miners

Miners have urged President Emmerson Mnangagwa to amend the Indigenisation act to remove the component requiring all diamond and platinum mines to be majority owned by Zimbabwean people. Mnangagwa’s administration has already amended the Indigenisation law and removed the 51-49 percent requirement for all businesses except those in the diamond sector.

Chamber of Mines of Zimbabwe president Batirai Manhando told journalists last week,

We are engaging the government, our view is that these (Platinum and Diamond) are capital intensive industries and by their nature require lots of money and for us to leave platinum and diamond on the 51-49 percent we think it should be revised in line with other metals.

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