Chamber of Mines president Abel Ntini has warned Zimbabwe that it is not doing enough to ensure that it maximises the potential of its abundant natural platinum group metal (pgm) resources.

Zimbabwe's mining sector has struggled to overcome problems with foreign currency shortages in recent years that have made it difficult for mining houses to import vital spare parts.

In conjunction with rising inflation, power cuts and political instability, the precious metals industry has suffered with even the traditionally robust platinum market also struggling.

'Because of the poor investment climate, platinum deposits with poor [sic] grades than ours have had to be developed in South Africa, the United States and Russia in order to fill the demand gap in the (international) markets,' he told the Financial Gazette.

Mr Ntini called for greater transparency in business transactions and an improved level of trust between the mining sector and the government, in a bid to rectify the situation.

Zimbabwe saw a significant increase in the amount of platinum mined in the country during the first two months of the year according to statistics released by the Chamber of Mines, but has since been beset by difficulties.