Business / Companies
Speculation on Blanket mine's mining licence
29 Aug 2011 at 00:17hrs | Views
There are some reports circulation on the internet that Zimbabwe's indigenisation minister on is alleged to have cancelled the operating licence of Blanket mine wholly owned by Canada's Caledonia Mining.
NB: The Indigenisation Minister is not responsible for cancelling licences, he applies to the responsible authorities/ ministries for the cancellation of the licence is ever he wants the licence to be revoked.
Blanket mine, in Gwanda, continued operation on Friday but reports said that Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere withdrew the operating licence.
If it is true, the order makes Blanket the first victim of Zimbabwe's empowerment process. Foreign mine owners have until September 30 to submit plans to Mr Kasukuwere showing how they will cede 51% ownership to black Zimbabweans.
A letter written by Kasukuwere to Mines and Mining Development Minister Obert Mpofu, seen by the Mail & Guardian, informed the Blanket Mine that the ministry had decided to cancel the operating licence because of the mines "failure to come up with acceptable indigenisation proposals".
The indigenisation ministry and Caledonia Mining issued a joint statement last week saying they had met and "agreed on a process", but by Friday the licence had been revoked by the minister. Reports said the mine had threatened to sue the government, arguing that he had "exceeded his legal powers".
The Mail & Guardian quoted Alexander Mhembere , CE of Impala Platinum-owned Zimplats, as saying there was big appetite for mine stakes among the business and political elite.
NB: The Indigenisation Minister is not responsible for cancelling licences, he applies to the responsible authorities/ ministries for the cancellation of the licence is ever he wants the licence to be revoked.
Blanket mine, in Gwanda, continued operation on Friday but reports said that Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere withdrew the operating licence.
A letter written by Kasukuwere to Mines and Mining Development Minister Obert Mpofu, seen by the Mail & Guardian, informed the Blanket Mine that the ministry had decided to cancel the operating licence because of the mines "failure to come up with acceptable indigenisation proposals".
The indigenisation ministry and Caledonia Mining issued a joint statement last week saying they had met and "agreed on a process", but by Friday the licence had been revoked by the minister. Reports said the mine had threatened to sue the government, arguing that he had "exceeded his legal powers".
The Mail & Guardian quoted Alexander Mhembere , CE of Impala Platinum-owned Zimplats, as saying there was big appetite for mine stakes among the business and political elite.
Source - mailandguardian
