Apparently buckling under pressure from the lobby group, Chamber of Mines, the government of Zimbabwe will drop the requirement for mining companies to list on the local stock exchange from the new Mining Act, Sibusiso Moyo, the country’s foreign minister said yesterday, during an event in London.
Addressing participants at a Chatham House event in London, Moyo, assured, “Previously there was an indication that the new Mining Act would have a requirement to list on the local exchange. But we can assure you that this qualification will be taken out.”
The administration of the Zimbabwe’s new President, Emmerson Mnangagwa, had introduced the listing requirement in a bid to boost investment and local ownership of the country natural resources.
Sourced from a Reuters report and edited for African Mining Brief Online