We will not compensate foreign firms for repossessed mining claims: Minister Chidhakwa

Mines and Mining Development Minister, Walter Chidhakwa has said that the government will not compensate foreign firms for repossessed mining claims. The Minister said the repossessed claims will be redistributed to indigenous Zimbabweans and added that the government owned all mineral rights and had a right to distribute them.

Said Chidhakwa:

There is a misconception that concessions which belong to companies are being taken from them. The Mines and Minerals Act in its first clause starts by saying the mineral resources of Zimbabwe vest in the State. The second clause says what investors get is a limited right to exploit the minerals, which may or may not be withdrawn and so the circumstances around, which mineral rights can be withdrawn are more to do with national good,

I have made it crystal clear to the (mining) companies that we will not go back on that matter. The second thing is that we will not pay because there was an expectation, a wild expectation for payment. We will not pay for those claims.

More: Chronicle


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