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Zim Permanent Secretary of Ministry of Mines briefs Jo’burg forum

Munesu Munodawafa, Permanent Secretary, Ministry of Mines and Mine Development Zimbabwe is expected to present the keynote address at the Zimbabwe Mining & Tax Law briefing, to be held in Johannesburg on 22 May 2018.

The Zimbabwe government said it is committed to reviving the mining industry and attract mining investment, while President Emmerson Mnangagwa has pledged investor-friendly policy changes and has partially scaled back a law requiring mining companies to be majority locally owned.

The Mnangagwa Act will also enable investors to apply for a waiver to the 51% ownership requirement, which will be considered on a case-by-case basis.

“The Zimbabwe Mines and Minerals Act is expected to be put into law before the end of May,” said Temba Mliswa, chairperson, Zimbabwe Mines and Energy portfolio committee.

Foreign minister Sibusiso Moyo said Zimbabwe will drop a requirement that mining companies must list on the local stock exchange from the new mining act

Despite these changes, mining companies and investors are still skeptical even though government said it is gearing up to position Zimbabwe as one of the top mining investment destinations in the world.

“Mining is a long term capital investment and organisations require further clarity surrounding the mining legal landscape and mining tax policy,” said Moyo.

AIE will host the Zimbabwe Mining & Tax Law Briefing on 22nd May in Johannesburg. The briefing will provide insight into the Mines and Minerals Act; Policy & Regulation and Mineral Tax Regime in Zimbabwe.

Some panelists who will be speaking include Munesu Munodawafa, Permanent Secretary, Ministry of Mines and Mine Development Zimbabwe. Other speakers and panelists include Lyman Mlambo, Chairman & Mineral Economist of the Institute of Mining Research University of Zimbabwe; Vengai Madzima, Partner of Titan Law; Itayi Ndudzo and Jacob Mutevedzi of Clairwood Chambers Zimbabwe and Steve Matoushaya, Tax Director of KPMG Zimbabwe.

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