The Zimbabwean government, through its central bank, has assumed control of the sale of platinum in the country.

Speaking to Platts news, an official at the Reserve Bank of Zimbabwe (RBZ) explained that the strategy is designed to ensure Zimbabwe's platinum reserves contribute positively to the country's economy.

The move follows the government's decision last October to abolish offshore accounts held by platinum producers in an effort to strengthen the state of the foreign currency market.

The Enhanced Platinum Sector Regime (EPSR) allows the RBZ to control all sales of platinum group metals under terms similar to the way it handles gold sales.

"Today is the beginning of the government's marketing directive and producers are expected to comply," the official told Platts.

However, platinum miners with interests in the country have expressed opposition to the plans, arguing that in the long-term placing the responsibility of the mining industry in the hands of the central bank will only prove counterproductive.

An analyst at Falcon Gold Zimbabwe warned that the move might be counterproductive: "The government should have taken a leaf from its failure in the gold sector. It is a bad move in as far as the growth of the platinum industry is concerned."