News / National
Zimbabwe faces mineral resources plunder
14 May 2015 at 07:17hrs | Views
Zimbabwe faces plunder of its mineral resources like gold diamonds, platinum and coal if a Minerals Exploration Bill is not crafted to ascertain their extent.
This was said by Bulawayo South MP Eddie Cross and Chegutu West MP Dexter Nduna Zanu-PF when they introduced a motion calling on government to bring into Parliament a Minerals Exploration Bill.
Cross told the National Assembly that the estimated gold reserves in Zimbabwe were a potential of 100 tonnes a year, which can translate into $3.5 billion annually.
Cross said Zimbabwe has a third of the world's diamond resources and could actually exceed Botswana as one of the biggest diamond suppliers in the world market but the problem was lack of exploration.
Government should expeditiously table the Minerals Exploration Bill to promote evaluation of resources underground and establish their worth as part of efforts to accelerate economic growth as envisaged by Zim-Asset.
Chegutu West MP Dexter Nduna (Zanu-PF) said despite the abundance of mineral resources in the country, there was neither geological information nor exploration to date to determine the quantity and value of mineral resources.
He said quantifying mineral resources would attract foreign direct investment as well as enhance the country's net worth consistent with the objectives of Zim-Asset anchored on judicious exploitation of resources.
Nduna said this while debating a motion he had moved calling for an evaluation of the nation's mineral resources.
This was said by Bulawayo South MP Eddie Cross and Chegutu West MP Dexter Nduna Zanu-PF when they introduced a motion calling on government to bring into Parliament a Minerals Exploration Bill.
Cross told the National Assembly that the estimated gold reserves in Zimbabwe were a potential of 100 tonnes a year, which can translate into $3.5 billion annually.
Cross said Zimbabwe has a third of the world's diamond resources and could actually exceed Botswana as one of the biggest diamond suppliers in the world market but the problem was lack of exploration.
Chegutu West MP Dexter Nduna (Zanu-PF) said despite the abundance of mineral resources in the country, there was neither geological information nor exploration to date to determine the quantity and value of mineral resources.
He said quantifying mineral resources would attract foreign direct investment as well as enhance the country's net worth consistent with the objectives of Zim-Asset anchored on judicious exploitation of resources.
Nduna said this while debating a motion he had moved calling for an evaluation of the nation's mineral resources.
Source - newsday
