Zimbabwe drafts new mining policy

Harare, May 13 (IANS) The Zimbabwean government is drafting a new mining development policy, a media report said.

According to ZBC News, stakeholders within the mining sector are in discussions with the Ministry of Mines and Mining Development regarding the drafting of the proposed policy.

Chamber of Mines president Winston Chitando said while the mining sector is committed to work with government, there is need to mobilize adequate financial resources, reported Xinhua.

"We just hope adequate financial resources shall be mobilized for this initiative to be a success," said Chitando.

Zimbabwe's mining sector is on a recovery path with gold, platinum, diamonds, coal among others expected to play a pivotal role in the growth of the industry.

However, more than $3 billion is needed for the exploration of new mineral reserves.