Reserve Bank of Zimbabwe governor Gideon Gono has launched a defence of the decision to end the provision of offshore accounts for platinum producers.

Mr Gono sought to emphasise the positive aspects of the decision to end dispensations for particular firms, targeting a deadline of February to wipe the practice out altogether.

He told the Sunday Times that the move would ensure the extraction of Zimbabwe's precious metals resources were providing revenues for the country and not just overseas investors.

He also stressed that the bank was eager to work with the platinum miners during the process and said that the government continued to enjoy strong relationship with the industry.

"We work together as partners and we will not do anything to unsettle them [the mines] as we appreciate the positive role they play in our economy," he commented.

"We are engaging them in a constructive way to reach a common denominator on the issue."

Some analysts have voiced fears that the volatility of the Zimbabwean economic situation might make the abolition of offshore accounts problematic.