Zimbabwe plans to establish a 26% free carry interest in new mining projects and negotiate similar stakes with existing operators, reflecting a regional trend in Africa towards increased local ownership in mining.
Zimbabwe is poised to enhance its stake in the mining sector by adopting a regulatory framework that will grant the government a 26% free carry interest in all new mining projects. This initiative is part of a broader trend among African nations aiming to increase local ownership in mining operations. In addition to new projects, the government intends to engage in negotiations with existing operators to secure a similar ownership percentage in current ventures.
The movement towards higher ownership stakes in Africa’s mining industry is partly driven by the need for countries to benefit more from their natural resources. Many African governments are revisiting mining agreements, advocating for a larger share of revenues to support national interests. Zimbabwe’s decision reflects these regional dynamics and aims to bolster its economic interests in resource extraction.
In summary, Zimbabwe is making a significant shift in its mining policy by insisting on a 26% free carry interest in new projects and pursuing similar agreements for existing operations. This move aligns with a growing trend across the continent to enhance local ownership and secure greater economic benefits from natural resources.
Original Source: northernminer.com
