[miningmx.com] — ZIMBABWE’s cabinet has agreed that the government will takeover all alluvial diamond mining in the country and own a 51% share for other minerals, state media reported on Thursday.
“All new projects in the mining sector are expected to comply with the above requirements of the law,” Savior Kasukuwere, Youth Development, Indigenisation and Empowerment Minister was quoted by the state-owned Herald newspaper as saying.
It was not immediately clear whether the new rules would affect existing miners.
The rules could impact major platinum miners Anglo Platinum and Impala Platinum Holdings as well as Rio Tinto, which have operations in Zimbabwe.
The Herald said the unity government of President Robert Mugabe and Prime Minister Morgan Tsvangirai had also resolved that communities would receive 10% of gross profit from mining activities in their areas.
