Newly created state-owned mineral exploration company, the Mining Promotion Corporation (MPC), is seeking to recruit a chief executive, an indication that the firm might soon become operational as the government moves to ascertain the extent of Zimbabwe’s mineral wealth.
Zimbabwe has, over the past decade, restricted exploration by not issuing licences and only resumed doing so this year.
Industry experts have in the past suggested that growth of the mining sector hinges on exploration to establish the size of mineral deposits across the country with the ensuing data being used to attract new investments as well as to improve transparency in the sector.
“(The) Mining Promotion Corporation is looking for a suitable candidate to fill the position of Chief Executive Officer to guide its exploration activities,” the company said in a job advert placed last week.
The government has so far injected $4 million into the company, which has gone towards the purchase of equipment as well as other expenses.
Analysts doubt the cash-strapped government will be able to finance an effective exploration firm.
Government has said the MPC will be key in identifying mineral deposits which will be used for securitising loans and in negotiating joint ventures between government local and foreign investors.- The Source
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