HARARE – Pablo Valverde, the Extractive Industry Transparency Initiative (EITI) director, has landed in Zimbabwe to thrash out a deal that could see the southern African country join the organisation.
EITI is a global organisation that is meant to improve transparency in the mining industry by making the flow of information easy.
Zimbabwe State media reports that consultations are underway in Zimbabwe to see if it would be wise to joint EITI.
“The EITI seeks to enhance the global standard for the good governance of oil, gas and mineral resources. That can be done through improved transparency which can attract investors to the country and better inform policy,” Valverde told reporters in Harare.
“We are not going to be telling Zimbabwe issues to focus on, their focus areas will be what they decide on. What we will be encouraging is transparency in their mining sector and any other issues will be decided by multi-stakeholder group which will be made up by the Zimbabwean Government, industry and civil society,” Valverde said.
Zimbabwe has said it will not be rushing to join the 52-member community as it will scrutinise all possible outcomes thoroughly.
Speaking at the EITI stakeholder consultations recently, Secretary for Mines and Mining Development Onesmo Moyo said Zimbabwe was committed to transparent sale of minerals.
“Zimbabwe is committed to transparent sale of its minerals and natural resources, but we need to ask questions before joining EITI.
“On minerals like platinum, why is it that the biggest producers South Africa and Russia are not part of it? Are they seeing something we are not seeing?” Moyo said.
In an interview, Deputy Mines and Mining Development Minister Polite Kambamura said Zimbabwe’s mining thrust involves giving serious thought to platforms like EITI.
“We would like to be transparent as it brings more investment, which will bring in more opportunities.”