Zimbabwe seeks a 26% stake in new mining projects and will negotiate similar terms with existing operators, reflecting a trend of increasing national ownership in the mining sector across Africa.
Zimbabwe is intensifying its focus on mining by seeking a greater ownership interest in mining initiatives. The government plans to introduce a 26% free carry interest in all new mining projects. Additionally, it aims to negotiate a similar stake with current mining operators, emphasizing a shift towards increased participation in the mining sector.
The move by Zimbabwe aligns with a broader trend among African nations to claim more significant shares in mining operations. Many countries on the continent are revising their mining laws to promote national participation. This includes efforts to ensure that local economies benefit more from mineral resources by demanding higher stakes in mining projects and negotiations with existing companies.
In summary, Zimbabwe’s initiative to exert a 26% ownership in new mining ventures reflects a growing trend among African countries to increase their share in the mining sector. By negotiating this stake with both new and existing operations, Zimbabwe aims to enhance local participation and economic benefits from its mineral resources.
Original Source: www.northernminer.com
