Published: 19 May 2018

Government says it will soon announce a new board of directors for mining parastatals and has committed itself to ensure that Zimbabwe Mining Development Corporation (ZMDC) assets are utilised for the benefit of the country's citizens.

Mines and Mining Development Minister Mr Winston Chitando said government will in the next two weeks unveil new boards of directors to oversee the operations of the entities and turnaround the fortunes of some of the ailing government-owned enterprises under the ministry.

These include the ZMDC and Minerals Marketing Corporation of Zimbabwe (MMCZ).

Responding to questions during the 2018 Zimbabwe Chamber of Mines Conference, Mr Chitando said the shareholder is disappointed by ZMDC's failure to ensure viability adding that some of the parastatal's assets have been put to tender as part of efforts to attract capital and unlock their potential.

"Government has put six out of the 20 ZMDC assets to tender with a view and the adjudication process will be completed by end of May. We want to make sure that in three months time there are concrete plans for each asset to be operational and contribute to the economy," he said.

ZMDC is currently facing viability challenges which have resulted in the entity failing to make a meaningful contribution to the economy.

Government is in the process of implementing parastatal reforms with a view to enhancing operational efficiency and increase the state-owned entities contribution to the broader economy.
- zbc

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