The govt was pinning its hope of economic revival on a platinum mining boost which is likely never going to happen this year, the Standard reports.
Miners expressed their scepticism over the initiative and said:
The sort of things being thrown around are all smoke and mirrors. It’s not easy to raise capital for all those projects and you have a huge amount of regulatory uncertainty.
According to the same publication most miners are shunning platinum rich Zimbabwe because of all or any of the following reasons.
- Zimbabwe’s failing currency regime that’s caused hyperinflation,
- Chronic shortages of fuel and
- Power shortages
- US sanctions on government officials and companies.
- Zim’s history of changing ownership rule
More: The Standard