The Zimbabwe government has denied suggestions that it is planning to nationalise the country's mining industry.

Speaking at a metal conference in Namibia, Mr Midzi did however suggest that the country wanted to move mining companies towards majority local ownership, reports Reuters.

Zimbabwe hosts many large mining companies, such as Impala Platinum subsidiary, Zimplats, and the Zimbabwean government is planning to introduce a new law that will require 51 per cent of local ownership of mining firms.

It had been claimed that the state has been considering plans to nationalise the mining industry across Zimbabwe in an effort to get its hands on the profitable sector.

Zimbabwe's economy has been languishing in recent years, with the world's highest levels of inflation, and there had been suggestions that Robert Mugabe's government would look to nationalise the mining sector in an effort to boost the economy.

However, Mines Minister Amos Midzi, has insisted that there are no such plans under consideration by the government, saying he wanted to "dispel this notion", instead outlining the importance of local ownership.

Sources:
Zimbabwe denies mining nationalisation plans
5/06/07
http://www.miningweekly.co.za/article.php?a_id=110341

Zimbabwe says to control strategic mining sectors
5/06/07
http://africa.reuters.com/business/news/usnBAN533090.html

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