Hundreds of Mining Companies Comply in Zimbabwe Indigenization Process
The Indigenization Ministry said Anglo-American, Rio Tinto, Freda Rebecca, Mwana Africa and Mettallon Gold Zimbabwe were among the 173 companies that have already submitted indigenization plans
More than 170 foreign mining companies have submitted plans to Zimbabwean authorities detailing how they propose to satisfy the indigenization program requirement that local black investors assume a controlling equity stake of at least 51 percent.
The companies filed well ahead of a September 30 deadline for submissions.
The Indigenization Ministry issued a statement Monday saying Anglo-American, Rio Tinto, Freda Rebecca, Mwana Africa and Mettallon Gold Zimbabwe were among the 173 companies that have already submitted indigenization plans.
Rio Tinto Communications and External Relations Manager Israel Chokuwenga told VOA he was not in a position to respond to questions.
Deputy Youth and Indigenization Minister Tongai Matutu told VOA Studio 7 reporter Jonga Kandemiiri that the response by companies was overwhelming and that his ministry would need at least three months to evaluate and respond to the proposals.