Concerns have been aired at the lack of capital underpinning Zimbabwe's ambitious plans to enact Black Economic Empowerment (BEE) in the country's mining industry.

Zimbabwe, which has seen its annual platinum production rocket in recent years to more than 140,000 oz in 2003, is in the process of making major changes to the rules and regulations governing the industry.

Key among these changes are plans to enfranchise indigenous people by requiring mining firms to hand over a 50 per cent stake to local people - with the government putting the country's platinum industry at the centre of the plans.

Yet while welcoming the government's plans to overhaul the industry, some senior figures have raised concerns about the potential for implementing the new rules.

Chamber of Mines president Ian Saunders told Mining Weekly that the plans are along similar lines to the South African government's own model, but noted a number of key differences that could cause problems.

"We do not know how the transfer (of equity to black Zimbabweans) is going to be financed," he said.

He also drew attention to the lack of 'world-class' mines in the country, arguing that the South African platinum industry is a step ahead.

Finally, he also expressed concerns at the potential for a discrepancy between wider BEE moves and the specific targets for the mining or platinum industries.

"The mining-sector targets will have to fit in with the overarching indigenisation strategy.

"What will happen if the targets in the overarching strategy surpass those for the mining sector?" he pondered.

All eyes will now be on the Zimbabwean government and President Mugabe, with further consultation on the mining BEE plans expected.