GOVERNMENT will not hesitate to withdraw mining title to companies which are in default of annual renewal fee payments, Mines Minister Winston Chitando has said.
He was speaking during a post-cabinet media briefing in Harare Tuesday.
Chitando said miners owed government up US$200 million in unpaid fees.
“All holders of mining title are urged to observe their obligations to pay for annual renewal of mining title failing which they would lose the title as provided for in the Mines and Minerals Act.
“All mining title holders; those who owed money to the Ministry of Mines and Mining Development as at 31st January 2020 be given until 30 April 2020 to pay up, failing which the mining title would be lost in terms of the provisions of the Mines and Minerals Act.”
Chitando also said that a Memorandum of Understanding (MOU) between the Ministry of Mines and Mining Development and the Zimbabwe Open for Business Forum towards achievement of the US$12 billion Industry by 2023 will be signed.
“Zimbabwe Open for Business Forum, an Independent Organisation formed by young Zimbabweans which has played a key role in marketing the Zimbabwe mining industry at its own cost,” Chitando said.
“The Forum at the recent Mining Indaba in Cape Town in early February, where apart from arranging various investor interface functions, the Zimbabwe Open for Business Forum established for the first time a Zimbabwe Lounge in the national interest.
“In view of the foregoing, Cabinet agreed that the Ministry of Mines and Mining Development enter into a Memorandum of Understanding with Zimbabwe Open for Business for cooperation in the promoting mining investment in Zimbabwe.”
