Zimbabwe targets 26% local shareholding in major mining projects, says official

‘There is a general position which is there like in the case of mining we need to move to a level where we reach 26% shareholding in most of the big projects,’ Mines Secretary Pfungwa Kunaka told Bloomberg in an interview.

He said the government will take part in existing and new mines after engaging investors:

“We have some situations where there are already some existing mines and new mines that we will come on board.

“A lot of these things would take negotiations with the investors that are on the ground.

“Obviously when you have decisions which were made some years back and decisions were made on the basis of a certain framework you cannot just, willy nilly, go and change that it takes negotiations,” Kunaka added impyling govt will negotiate with the miners.