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Tuesday, 21st April 2009 (1470 views)

Production has recommenced on a number of gold properties in Zimbabwe.

New regulations now allow mining companies to sell gold directly to international markets, having previous limited trading to the central bank.

Companies can keep all the proceeds from sales of gold mined in Zimbabwe and a number of firms, including Metallon Gold, Caledonia Mining, New Dawn Mining and Mwana Africa, are now planning to re-start production on properties in the country.

The Zimbabwean unity government is currently attempting to boost the economy and has introduced a series of reforms that have affected the mining sector.

Under current rules, foreign ownership of mines in the African nation is limited to 49 per cent.

Meanwhile, Zimbabwe has called on international agencies and organisations to fund the drafting of its first constitution since independence, ahead of free and fair elections.

The constitution is part of a unity deal signed by president Robert Mugabe and the opposition in the southern African nation.

 

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