Govt To Remove 51-49% Shareholding Requirement In Diamond And Platinum Mining

Speaking to investors in Anhui yesterday, President Emmerson Mnangagwa said Government is working on a new diamond and platinum mining policy that will see the removal of the 51-49 percent shareholding requirement.

The requirement was removed on other minerals and sectors of the economy after the Indigenisation Act was amended. Mnangagwa said Government should be able to come up with a new policy to govern the two minerals very soon. As a result of this requirement in the indigenisation policy, Government had closed six companies that operated in Chiadzwa a few years ago.

Anjin which is a joint venture company between Anhui Foreign Economic Construction Corporation (AFECC) and the Defence Industries, yesterday appealed to President Mnangagwa to be allowed to come back into Zimbabwe.

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More: Herald

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