Bloomberg reported that Zimbabwe's mines minister pledged to cut the time it takes to obtain a mining license to a maximum of six months to help the economy recover from a decade long recession that ended this year.
Mr Obert Mpofu minister said that some mine license applications have been pending since 2003. He added that "It’s in my interest that I get the applications cleared. I realize the frustration, I realize the concern. I’m a minister in a hurry."
Zimbabwe has the world’s second biggest deposits of platinum and chrome after South Africa and also has significant reserves of gold, diamonds, coal and iron ore.
In February President Mr Robert Mugabe and former opposition leader Mr Morgan Tsvangirai, formed a coalition government after intervention by the Southern African Development Community of neighboring states to end a 10 year political crisis. That crisis caused a decade long recession, recurrent famines and the collapse of the country’s farming, mining and manufacturing industries.
