The Ministry of Mines and Mining Development has threatened to repossess mineral claims from mining companies and individuals that are holding on to them for speculative purposes.
Addressing delegates at the Mazowe Rural District Council’s investment conference and expo held at Mazowe Hotel yesterday, Deputy Minister of Mines and Mining Development Polite Kambamura said the government is set to issue a statement on the use it or loss it policy.
“Soon the Minister of Mines and Mining Development will issue a statement on the use it or loss it policy. There are several companies and organisations which own several claims that have been idle for years, they keep paying inspection fees.
“Zimbabwe is open for business and we need to open the resource to our investors. We need to see production at those claims,” he said.
He added that the ministry is also coming up with a cadastral system to computerise mining title to curb corruption within the mining sector.
“The companies that are not doing anything on their claims will be called to come forward and explain why they are not mining or give us their mining plans within the shortest possible timelines failure of which they will be asked to surrender their mining title to the Government.
“As you are aware all mining rights are vested in the President of the country. The ministry is also coming up with a cadastral system to computerise mining title.
‘‘There has been a lot of issues with regards to the manual system which is subject to abuse by some people and the ministry is well aware of that,” he added.