Zimbabwe mulls raw platinum export ban

2011-12-28 20:01

Harare - Zimbabwe plans to ban the export of raw minerals, including platinum, in the next five years to encourage local processing to maximise the resources' value, a deputy mines minister said.

"It is a process. What we are doing is that we are looking at the goals of the Ministry of Mines that we must ensure that there is value addition in all minerals mined in Zimbabwe before exports," the Deputy Mines Minister Gift Chimanikire told AFP on Wednesday.

"If you look at the figures of last year for mineral exports, Zimbabwe exported $4bn worth of minerals but the fiscus only got $120m. So we are exporting jobs outside the country."

The resource-rich southern African country loses a lot of revenue because it does not refine minerals such as platinum, said Chimanikire.

"As Zimbabweans we want to know how much gold is in the platinum as well as other minerals. At the moment we cannot know as the platinum is refined in South Africa," he said.

Last year platinum giant Zimplats announced plans to set up a $500m metal refinery in Zimbabwe.

The world's two biggest platinum miners, Anglo Platinum and Impala Platinum, both have multi-billion-dollar investments there.

This year Zimbabwe banned the export of raw chrome to encourage smelting of the mineral and so increase its value.

Zimbabwe also sits on vast deposists of gold, coal, copper and diamonds.

  • Joseph - 2011-12-28 22:06

    Its a good idea to boost the economy and create more jobs for Zim.the rest of Africa must start taking ownership of its vast mineral resources.

  • Chaapo - 2011-12-29 00:45

    They have backtracked again. Typical of ZANU PF led ministries; talk before thinking. There was nothing to stop them developing the skills locally if ever they had wanted to do this. Platinum has been mined and exported for a long time time from the early 1990's. Like most governments, there is a lack of long term planning regarding investing in local skills so that we stop exporting primary products. This is deliberate because they are in the pockets of these corporations. Additionally, an electorate that is doing OK economically is less easy to control. The tactic of the cabal caused by the nexus between governments and capital is therefore to keep them poor and focused on scrounging for survival and working like ants in these primary industries so they do not have the time and energy to question the politics that create the environment they have to live in. ZANU PF is eying elections and this fits in with the ratcheted rhetoric of indigenization and local control which is their mantra at election time. This sloganeering about local control is also used to smokescreen seizing control by a small ZANU PF linked elite. We have seen and heard it all before over 30 years; nothing new here except to those who are willfully gullible.

  • Angus - 2011-12-29 09:57

    its just another thing they will give to the chinese. dont be fooled if you think this will create jobs for zimbabweans

  • garikaic - 2011-12-29 10:51

    the government has to be more deliberate about value addition of minerals and think more of future generations as opposed to short term gains.

  • Assis - 2011-12-30 12:15

    Zim economy now just bigger than Lesotho and Swaziland...thanks to the policies of ZPF exporting jobs has been the order of the day...infact that is Zim biggest export...Zimbabweans! I'm sure Zim has lost more than 120m$ with Air Zimbabwe...get Zim to be investor friendly and Zim will start to import jobs.

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