A Critique of Zimbabwe's Dual Legal System
2011 Minerals Yearbook
ZiMbabwe [advance Release]
U.S. Department of the Interior U.S. Geological Survey
May 2013 Revised August 2013
The Mineral indusTry of ZiMbabwe by Philip m. mobbs as estimated by the international monetary Fund, Zimbabwe’s real gross domestic product (GdP) increased by an estimated 9.4% in 2011 compared with that of 2010. The nominal GdP was estimated to be $9.5 billion, of which the mining sector accounted for about 12%. Zimbabwe’s diverse mineral output included about 7% of the world’s diamond production (by volume), 5% of the world’s platinum production, and about 4% of the world’s palladium output (international monetary Fund, 2012, p. 29, 42; Kimberley Process Certification Scheme, 2012; Loferski, 2012). The ministry of mines and mining development manages the mineral sector in accordance with the mines and minerals act (chapter 21:05); the mining (General) regulations, 1977; and their amendments. mining operations also are regulated by sections of the environmental management act of 2002 (chapter 20:27) and its 2007 amendment, the explosive act, the Forest Act, the Parks and Wildlife Act, the Public Health Act, and the suppression of money laundering act. The indigenisation and economic empowerment act (chapter 14:33) of 2007 requires that 51% ownership of businesses in Zimbabwe with a net asset value greater than $500,000 be acquired by eligible Zimbabweans, who are defined as “any person who, before the 18th April, 1980, was disadvantaged by unfair discrimination on the grounds of his or her race, and any descendant of such person, and includes any company, association, syndicate or partnership of which indigenous Zimbabweans form the majority of the members or hold the controlling interest.” The indigenisation and economic empowerment (General) regulations (statutory instrument 21 of 2010) became effective in early 2010. in march, the ministry of Youth development, indigenisation and empowerment published General notice 114 of
ZiMbabwe [advance Release]
U.S. Department of the Interior U.S. Geological Survey
May 2013 Revised August 2013
The Mineral indusTry of ZiMbabwe by Philip m. mobbs as estimated by the international monetary Fund, Zimbabwe’s real gross domestic product (GdP) increased by an estimated 9.4% in 2011 compared with that of 2010. The nominal GdP was estimated to be $9.5 billion, of which the mining sector accounted for about 12%. Zimbabwe’s diverse mineral output included about 7% of the world’s diamond production (by volume), 5% of the world’s platinum production, and about 4% of the world’s palladium output (international monetary Fund, 2012, p. 29, 42; Kimberley Process Certification Scheme, 2012; Loferski, 2012). The ministry of mines and mining development manages the mineral sector in accordance with the mines and minerals act (chapter 21:05); the mining (General) regulations, 1977; and their amendments. mining operations also are regulated by sections of the environmental management act of 2002 (chapter 20:27) and its 2007 amendment, the explosive act, the Forest Act, the Parks and Wildlife Act, the Public Health Act, and the suppression of money laundering act. The indigenisation and economic empowerment act (chapter 14:33) of 2007 requires that 51% ownership of businesses in Zimbabwe with a net asset value greater than $500,000 be acquired by eligible Zimbabweans, who are defined as “any person who, before the 18th April, 1980, was disadvantaged by unfair discrimination on the grounds of his or her race, and any descendant of such person, and includes any company, association, syndicate or partnership of which indigenous Zimbabweans form the majority of the members or hold the controlling interest.” The indigenisation and economic empowerment (General) regulations (statutory instrument 21 of 2010) became effective in early 2010. in march, the ministry of Youth development, indigenisation and empowerment published General notice 114 of
References: Cited african consolidated resources plc, 2012, african consolidated resources plc—Preliminary results: african consolidated resources plc, august 29 Zimbabwe—2011 [advance release] Global Witness, 2012a, Diamonds—A good deal for Zimbabwe?: London, United Kingdom, Global witness, February, 22 p