Zimbabwe plans 'use it or lose it' mine-permit program for gold

Section:

By Godfrey Marawanyika and Brian Latham
Bloomberg News
Friday, May 19, 2017

Zimbabwe may confiscate unused mining licenses from companies and liberalize gold trading as ways to boost output.

Large mines are "sitting on lots of unused claims," the southern African country's Chamber of Mines said in a document outlining initiatives of the proposed Command Mining program. Revisiting the Gold Trade Act "to allow for the ease of handling and transportation of gold to buying centers" and speeding up mine registration are among other recommendations.

Zimbabwe, whose economy has halved since 2000, is looking for ways to boost output growth to almost 10 percent next year, mainly through agriculture and manufacturing, and by giving more people access to banking services. The country, which has the world's biggest platinum reserves after South Africa, is experiencing a liquidity crisis that has led to limits on daily cash withdrawals and resulted in civil servants being paid late last month. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-05-19/zimbabwe-plans-use-it...



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