The Zimbabwean government is set to renew efforts to drive up Black Economic Empowerment (BEE) in the country's platinum industry, it has been claimed.

According to South African newspaper Business Day, the Zimbabwean government is planning to force foreign-owned mining companies to cede 30 per cent of their businesses to local black investors.

The newspaper also reports that the transfer to black investors should be completed within ten years, in a bid to bring more control of the mines into the hands of the local people.

It is a move that has already been compared to the actions of South Africa's post-apartheid BEE programme.

The report claims that the Zimbabwean government is drafting an amendment to the country's Mines and Minerals Act, which would force companies to ensure that 20 per cent of their assets are owned by black investors within two years, and then give the firms another eight years to increase that proportion to 30 per cent.

This development comes after last year's announcement from industry group Chamber of Mines that Zimbabwe has a long-term target of having all its mines owned 50 per cent by local black people.


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