Artisanal mining. The Indigenisation and Economic Empowerment Unit and Fund. This will be a unit within the Ministry staffed entirely by members of the Civil Service and headed by a Director. It will replace the former National Indigenisation and Economic Empowerment Board, which functioned as an autonomous body outside the Civil Service framework.

This study sought to evaluate the impact of the Indigenisation Policy on the socioeconomic emancipation of rural communities in Zimbabwe. A case study approach was taken focusing on the Marange ...

Artisanal mining. The Indigenisation and Economic Empowerment Unit and Fund. This will be a unit within the Ministry staffed entirely by members of the Civil Service and headed by a Director. It will replace the former National Indigenisation and Economic Empowerment Board, which functioned as an autonomous body outside the Civil Service framework.

"The indigenisation law was only used to position individuals in political spheres to allow them to penetrate the mining sector and loot minerals. It is not about community benefit," charged Mupfumi. The controversial act states that all foreign-owned companies should have a maximum 49 per cent stake, while black Zimbabweans hold the balance.

The government has withdrawn its decision to bring back the controversial indigenisation law it had struck off last year as it buckles under pressure following concerns the move would scare away foreign direct investment into the capital-intensive mining sector. Section 36 of the Finance Act pro ...

The law, known as the Indigenisation and Economic Empowerment Act, was enacted during the era of late former President Mugabe and was meant to increase local ownership in the mining sector. It was heavily criticised for denting investor …

Open for business? Totemic. That is the word which perhaps aptly sums up the potential of Zimbabwe's huge and diverse mineral wealth to propel the country's socio-economic development agenda. Early this year, the Minister of Finance and Economic Development, Mthuli Ncube, declared that mega mining deals worth US$8 billion have been sealed.

By far the major two problems facing the mining industry have been insufficient and erratic power supply, and the lack of policy certainty (as evidenced by the sudden imposition of new royalties and fees, and opaque indigenisation targets). The next most pressing problem is the acute national shortage of capital and high interest rates.

A partner with renowned South African law firm that specialises in mining, oil and gas and infrastructure, Peter Leon, said if Zimbabwe wants to jump onto the investment bandwagon in Africa, it must relax its indigenisation laws.

In the mining fraternity following the enactment of the Indigenisation and Economic Empowerment Act, protracted negotiations between the government and mining companies took place to ensure compliance with the new law. Big mining companies such as Unki, Zimplats and Mimosa have since complied with the indigenisation regulations (zim.gov.zw, 2012).

Zimbabwe government officially amends indigenization law. HARARE, March 19 (Xinhua) -- The Zimbabwe government has officially amended the Indigenization and Economic Empowerment Act to limit its application to designated diamond and platinum extraction businesses. The amendments, contained in the Finance Act, which was published in a March 14 ...

The Government initially removed laws limiting foreign ownership of mining firms, except for diamond and platinum sectors to 49 percent. While the policy was later extended to platinum and diamond, it is yet to be regularised into the law. "In 2019, Government announced the removal indigenisation equity thresholds on platinum and diamond as ...

In the mining sector, the proposed amendment would confine the 51-49 percent indigenisation threshold to only two minerals, namely diamond and platinum. "We are getting overwhelmed with enquiries from potential foreign investors that are seeking clarity on the proposed amendment of the indigenisation policy as well as existing investment ...

The law of unintended consequences and the Indigenisation and Economic Empowerment Act are irrevocably bound together. Although the indigenisation of the mining industry was implemented with positive intentions, as evidenced above, it has led to negative consequences that necessitate the act to be repealed, at least significantly amended for ...

Where multi-jurisdictional mining transactions are involved, we are sought after by various global firms as the local expert of choice as we equip our clients with the knowledge and assist in the facilitation of compliance with mandatory legislation generally (indigenisation, exchange control, investment licenses, competition laws and other ...

The firm has considerable experience in this area which includes specialising in the tax regime, exchange control regulations, indigenisation requirements, mining law, advice on various company structural and compliance requirements and generally all local laws affecting investment in Zimbabwe. We are on the panel of law firms instructed by the Big 4 auditing firms in respect of commercial tax ...

(Apr. 2, 2008) President Robert Mugabe of Zimbabwe signed into law the Indigenization and Empowerment Act on March 7, 2008. The Act requires foreign-owned companies to offer at least 51 percent of their shares to indigenous Zimbabweans, according to news reports. It is unclear whether the mining industry is covered by the Act, Joseph Malaba, […]

Regulating Mining in South Africa and Zimbabwe: Communities, the Environment and Perpetual ... extractives, indigenisation, mining law and policy, mining ... Read more. The Feasibility of Value Addition in the Mining Sector in ... of the Indigenization Policy in Zimbabwe ... The indigenisation policy has a negative impact on FDI. ...

The Indigenisation and Economic Empowerment Act was : ... Government has been suggesting the introduction of a new mining law, that, among a number of changes, includes a use-it-or-lose-it policy on exploration licences as well as rules that will ensure some level of …

The archaic and chaotic mining award and title administration system fuelling disputes. ... mining sector in Zimbabwe's quite susceptible to transboundary organised crime which has no respect to the rule of law and can easily contribute to violence and other illicit behaviours. Corrupt and greedy senior politicians are fingered in violence.

February 3, 2021 PHILLIMON MHLANGA The government has withdrawn its decision to bring back the controversial indigenisation law it had struck off last year as it buckles under pressure following concerns the move would scare away foreign direct investment into the capital-intensive mining sector. Section 36 of the Finance Act promulgated in December intended to …

to protect mining communities and provide maximum value to Zimbabweans for their mineral resources (Murombo, 2010). This paper will critically discuss the indigenisation policy in Zimbabwe with specific reference to the mining sector and the Fast Track Land Reform Programme (FTLRP). This

Despite its endowment with various mineral resources and the inclusive government set up in 2009, Zimbabwe continues to suffer an economic tragedy. The country is rich in, among other minerals, the top selling platinum, diamonds, and gold. One would therefore assume that the economic problems facing the country should have been brought to an end through sustainable exploitation of the rich ...

The Indigenisation and Empowerment Act was amended in December 2018 to its current form where the 51/49 shareholding structure is compulsory in diamond and platinum mining only.

Mining Law We are blessed to be an organisation that was founded within the minerally rich Southern Africa. We have been at the forefront of ensuring that we balance the three competing seemingly diverging but complementary interests, those of the regulator, those of …

ICLG - Mining Laws and Regulations - South Africa covers common issues in mining laws and regulations – including the acquisition of rights, ownership requirements and restrictions, processing, transfer and encumbrance, environmental aspects, native title and land rights – in 15 jurisdictions. Published: 13/09/2021.

The amendment surely gives the Minister of Industry and Commerce primary law-making power. The effect of prescribing minerals under section 3(1) of the Indigenisation and Economic Empowerment Act will largely be to fence off sectors of …

Mining law is principally regulated in terms of legislation passed by Parliament though precedent or case law from the courts; common law and customary law also regulate mining law. The Mines and Minerals Act [Chapter 21:05], and the regulations made in terms of that Act, is the principal legislation that regulates mining law.

The content of the new law is unclear at this stage, and as is the case with most, if not all new laws, it will not satisfy all stakeholders and there may be a lengthy period of disputes, which ...

The law requires foreigh companies to cede 51% of their shares to employee and community share schemes as well as to the National Indigenisation and Economic Empowerment Board. President Robert Mugabe and his government have said the government will not pay for shares ceded by foreign miners such as Impala Platinum and Anglo American Platinum ...

Abstract: The paper discusses the consequences of implementing the indigenisation laws in their current form on the banking sector in Zimbabwe. The law requires that firms operating in the country which are owned by non-indigenous Zimbabweans and with asset values exceeding US$500 000 cede 51% shareholding to indigenous black Zimbabweans. ...

Major mining firms comply with indigenisation law. By Newsday-May 10, 2011. 461. Share. Facebook. Twitter. WhatsApp. Linkedin. Some of the country's major mining firms beat the Monday deadline ...