The violations were the result of the South African miner failing to meet its regulatory obligations in relation to its undertaking to pay an exclusivity fee to the sellers of Vametco.
Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years
President Emmerson Mnangagwa is making moves to end the country’s international isolation and attract foreign investment to boost an economy in tatters, including allowing new private investment in the diamond fields.
It may even allow foreign investors to hold majority stakes in local operations on condition that part of their output is reserved for domestic downstream industries.
Changes to Brazil’s 50-year-old mining regulations also came in effect Wednesday and include measures that make the country’s industry more competitive and sustainable.
