MDC-T will transform mining sector- Mashakada

MDC-T deputy Secretary general Tapiwa Mashakada has said his party will transform the mining sector into a sector that will develop the nation through its proceeds.

He said the one sector that the MDCT will have to transform is none other than Mining.

"The mining sector has remained old fashioned in the way it is structured. The sector produces minerals and export them in their raw form. Zimbabwe is losing billions in the value chain. In addition, government is getting peanuts from taxes and royalties," he said.

"The sector is playing havoc on the environment and billions of dollars are being externalized. This is a sector that needs reforms. The MDCT will adopt the African Mining Vision which is a guideline on responsible mining by the AU. Instead of just harping on ownership of which Zanu PF is paying lip service, the MDC-T will create a black African bourgoise which will have the capital to venture into mining. The state will put a fund to incubate black businesses that want to go into formal mining. Whilst we will welcome FDI in the Mining Sector, we will also try to promote our own new domestic investors who must open new mines using domestic venture capital."

Mashakada said an MDC-T government will do a PPP on geological survey and exploration.

"ALL minerals shall be processed locally. Small scale minors will be supported with capital and environmental management programs. A realistic fiscal policy regime will be put in place in order to ensure that the state gets revenue. An MDC-T  government will together with civil society enact a Natural Resources Charter to guide corporate citizenship and responsible mining. Transparency and accountability will be institutionalized. Under an MDC-T government  a new developmental approach to natural resources governance will be put in place to replace the present exploitative and corrupt system. With this approach a $100 billion dollar economy is achievable within the first 5 years of an MDC-T government," he said.