Zimbabwe is joining a movement among African nations to increase local ownership in mining. It intends to implement a 26% free carry interest in new projects while negotiating similar stakes with existing operators to boost national control in the mining sector.
Zimbabwe is actively pursuing a greater stake in its mining sector, intending to secure a 26% free carry interest in all new mining ventures. This initiative aligns with a growing trend among African nations to enhance local ownership in mining operations. Additionally, the government aims to negotiate a similar equity interest with current mining operators already established within the country, thus solidifying its commitment to increasing national ownership and control in the mining sector.
In summary, Zimbabwe is taking significant steps to increase national ownership in its mining industry by implementing a 26% free carry interest in new projects. This approach not only reflects a broader movement among African countries towards greater local participation but also seeks to renegotiate terms with existing mining firms to further enhance the country’s stake in its mineral resources.
Original Source: www.northernminer.com
