Zimbabwe's deputy mining minister has moved to calm fears among foreign mine owners with interests in the country after president Robert Mugabe reiterated his desire to take a majority stake in foreign owned mines.

Tinos Rusere said that the redrawing of Zimbabwe's mine laws would involve negotiations with the companies affected and would be a slow process.

During a political rally, president Mugabe had earlier said his government would be taking a 51 per cent stake in foreign mines.

"Amendment to the Mines and Minerals Act is a process, indeed a long process," Mr Rusere told an annual meeting of the Chamber of Mines, according to Reuters.

"Government, therefore insist that continued dialogue and shareholder consultations constructively guide all of us towards fulfilling the amendments."

In his presentation, the deputy minister seemed to concede that the mining industry, one of the few still to attract foreign investment into the troubled country, needed to be maintained.

"Zimbabwe needs huge mining investment, both foreign and domestic, that is at its lowest record in the country's mining history," he said.

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