Zimbabwe Threatens to Seize Platinum Concession From Eurasian Resource Affiliate
Ray Ndlovu and Godfrey Marawanyika, Bloomberg News Platinum ore. Photographer: Waldo Swiegers/Bloomberg , Bloomberg
(Bloomberg)
Zimbabweâs mines minister has informed Todal Mining Ltd., a venture controlled by Eurasian Resources Group, that its platinum mining concessions could be seized because no progress has been made in developing them.
The Bokai and Kinonde concessions may be taken over under the âuse-it/lose-it principleâ which allows the state to repossess idle mining claims, Minister Winston Chitando said in a letter to Todal dated May 28 and seen by Bloomberg. The mines ministry confirmed the veracity of the document.
(Bloomberg)
Zimbabwe’s mines minister has informed Todal Mining Ltd., a venture controlled by Eurasian Resources Group, that its platinum mining concessions could be seized because no progress has been made in developing them.
Bloomberg
ZIMBABWE’S Mines Minister has informed Todal Mining, a venture controlled by Eurasian Resources Group, that its platinum mining concessions could be seized because no progress has been made in developing them.
The Bokai and Kinonde concessions may be taken over under the “use-it/lose-it principle” which allows the state to repossess idle mining claims, Minister Winston Chitando said in a letter to Todal dated May 28 and seen by Bloomberg. The Mines Ministry confirmed the veracity of the document.
“I note with concern that over the last few years there have been several changes to the work program to make this project progress to production stage,” Chitando said in the letter.