Zimbabwe's Chamber of Mines has said it will reply to proposals from the government to take a majority stake in foreign mines in the next seven days, as the mining industry digests the new plans in Harare.

Under the new proposals seen by news agency Reuters, president Robert Mugabe's administration would take 51 per cent of all overseas mines.

Mines minister Amos Midzi said the principles of the act, which would "indigenise" the mining industry, had been approved by the cabinet.

Now the Chamber of Mines says it is studying the proposals with a view to responding to them in the next week.

Already there are concerns over the government's involvement in the mining sector, with the Zimbabwean government’s desire to profit from the country's abundant natural resources causing much friction when first mooted in 2004.

Implats, which recently outlined its plans for major expansion in Zimbabwe as it ramps up platinum production, says it is hoping to continue discussions with government officials.

Impala, which controls most of Zimbabwe's platinum mines, will follow the state plans closely after a series of run-ins over new proposals, as well as Mr Mugabe's track record in seizing most of the white-owned commercial farms.

Implats currently holds an 84 per cent share in Zimbabwe Platinum Mines and is depending on Zimbabwe for growth since its holdings there stand at around 187 million ounces of platinum.


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