Zimbabwe may sell 40% stake in a key gold mine to raise capital
Zimbabwe’s largest gold producer is negotiating with potential partners to boost production at its Shamva mine.
The eight-month moratorium on granting prospecting licences is expected to be lifted on Monday with the unveiling of an online application system expected to ensure transparency and reduce turnaround times.
The Department of Mineral Resources said yesterday that the system would “make information available about areas applied for, areas granted, and areas still available for prospecting and mining rights, and mining permit applications readily and globally accessible to the general public.”
The moratorium was imposed in September last year to iron out irregularities in the awarding of exploration drilling contracts and the audit of existing exploration activities.
