Govt Was Hoping A Platinum Mining Boom Would Help Stabilise The Economy - Report

The govt was pinning its hope of economic revival on a platinum mining boost which is likely never going to happen this year, the Standard reports.

Miners expressed their scepticism over the initiative and said:

The sort of things being thrown around are all smoke and mirrors. It’s not easy to raise capital for all those projects and you have a huge amount of regulatory uncertainty.

According to the same publication most miners are shunning platinum rich Zimbabwe because of all or any of the following reasons.

1.  Zimbabwe’s failing currency regime that’s caused hyperinflation,
2. Chronic shortages of fuel and
3. Power shortages
4. US sanctions on government officials and companies.
5. Zim’s history of changing ownership rule

More: The Standard