Zimbabwe Mines Minister Obert Mpofu said his ministry had prepared an amended mining law to be presented to Cabinet for approval before it is debated in Parliament.
Reports, however, said it was not clear if the amendment bill would prescribe 51 percent local ownership of all mines.
Mpofu said the bill had been recharged, but declined to say if the amended bill would prescribe 51 percent local ownership of all mines in a country with the world's second largest platinum reserves after South Africa.
“The amendment is ready. As you know, when a draft bill is ready, it is taken to cabinet, to the cabinet committee on legislation and then back to cabinet for final approval,” Mpofu was quoted as saying by Mining Weekly.
He said the bill would be tabled in parliament later this year.
The Chamber of Mines said it had not seen the bill, but had proposed setting mining firms a target of 25 percent local ownership within 10 years, while giving empowerment credits for social investments and infrastructure spending.
Mathew Nyaungwa, Rough&Polished from Namibia
Rough&Polished