The future of the Zimbabwe Mining Indaba has been cast in stone after the inaugural 2009 Indaba was seen as a resounding success by the Zimbabwe Ministry of Mines and Mining Development.

Event organiser Utho Capital, a corporate and project finance advisory and consulting firm, reports that it will be organising the Zimbabwe Mining Indaba as an annual event and most of the key sponsors of this year’s event have confirmed their commitment to the 2010 indaba.

“The 2009 Mining Indaba – held in September – attracted delegates from all over the world, including hedge funds and mining houses from the US, Canada, Australia, South Africa and the rest of Africa. The indaba provided a platform for participants to engage with policymakers around the Indigenisation Bill and other issues of con-cern,” says Utho Capital CEO
Andrew Mari.

He adds that most participants were 
impressed by the level of interest that the indaba generated and the presence of multinational companies such as Xstrata, African Rainbow Minerals, Rio Tinto, Platinum Australia, Lonmin, as well as hedge funds like Denham Capital and Crosby Capital.

“Some of the key topics covered included the clarification of the issue of indigenisation and the timeframe for the adoption of a new Mining Charter. 
“Most delegates left the conference with a clear way forward on investing in Zimbabwe’s mining industry,” says Mari.

He reports that the main aim of the indaba was to promote Zimbabwe as a viable mining investment destination and to “dialogue with mining houses, investors and mining suppliers in order to ensure Zimbabwe has an enabling environment”.

He adds that the Ministry says it was “overwhelmed by the response and man-aged to achieve its objectives of clarifying all issues that were troubling investors to map out a clear way forward in Zimbabwe”.

“Utho Capital will be submitting a close-out report with recommendations to the Ministry, which will be tabled at Cabinet.”

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.