News / National
Zimbabwe has vast minerals whose location are kept secret
28 Jul 2012 at 09:42hrs | Views
Zimbabwe has vast mineral resources that remain untapped and whose location and volumes are being kept secret for security reasons, Deputy Prime Minister (DPM) Arthur Mutambara said yesterday.
"The minerals were so vast," he said, "that they could not all be exposed at the same time because it would be difficult to protect them against bounty hunters."
"There are minerals in this country and we cant say where they are because we don't have enough soldiers to protect them," said Mutambara.
Mutambara yesterday called for the amendment of the Mines and Minerals Act which he said was currently skewed in favour of foreign investors whom it gave too much protection at the expense of locals.
Addressing delegates attending the Confederation of Zimbabwe Industries conference in Nyanga, Mutambara said: "These laws allow an investor to get a claim for free. That is why we are poor."
He also took a swipe at the contentious Essar-Ziscosteel deal, saying it was hurriedly concluded without due diligence.
"That horrible Essar deal should have been subjected to independent consultancy. Let us not make Zimbabwe a large supermarket. The problem is not indigenisation but inconsistency."
The $750 million Essar deal has caused a rift between Mines minister Obert Mpofu and Industry minister Welshman Ncube over the manner in which it was handled.
The DPM implored the European Union to unconditionally suspend all restrictions imposed on Zanu PF officials saying their continued existence had damaged the countrys international image.
Sanctions must be removed. They are damaging our brand, Zimbabwe. We cannot accept being treated like children and dictated to. Sanctions must be removed without conditions, he added.
Speaking at the same function, EU country head Aldo Dell Arricia however, said the targeted sanctions had no impact on the countrys growth.
Measures targeted have no impact on economic development, he said. They only have direct impact on the listed firms.
"The minerals were so vast," he said, "that they could not all be exposed at the same time because it would be difficult to protect them against bounty hunters."
"There are minerals in this country and we cant say where they are because we don't have enough soldiers to protect them," said Mutambara.
Mutambara yesterday called for the amendment of the Mines and Minerals Act which he said was currently skewed in favour of foreign investors whom it gave too much protection at the expense of locals.
Addressing delegates attending the Confederation of Zimbabwe Industries conference in Nyanga, Mutambara said: "These laws allow an investor to get a claim for free. That is why we are poor."
He also took a swipe at the contentious Essar-Ziscosteel deal, saying it was hurriedly concluded without due diligence.
The $750 million Essar deal has caused a rift between Mines minister Obert Mpofu and Industry minister Welshman Ncube over the manner in which it was handled.
The DPM implored the European Union to unconditionally suspend all restrictions imposed on Zanu PF officials saying their continued existence had damaged the countrys international image.
Sanctions must be removed. They are damaging our brand, Zimbabwe. We cannot accept being treated like children and dictated to. Sanctions must be removed without conditions, he added.
Speaking at the same function, EU country head Aldo Dell Arricia however, said the targeted sanctions had no impact on the countrys growth.
Measures targeted have no impact on economic development, he said. They only have direct impact on the listed firms.
Source - newsday
