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Harare warns on idle mine licences

March 4 2013 at 08:00am
By Bloomberg

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Zimbabwe might revoke the coal mining licences held by 31 local companies, most of which were holding them for speculation that was discouraging foreign investment, Deputy Mines Minister Gift Chimanikire said on Friday. The companies had been been ordered to come to the ministry this week to explain the exploration work they had carried out, he said in an interview in Harare. “If we don’t get any satisfactory answers, we won’t hesitate to withdraw those licences. Most of these people are holding on to these grants for speculative purposes.” He said some licensees had been asking foreign investors for “other things and favours, resulting in the investors moving on to other countries”. – Bloomberg


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