Tinashe Sambiri| CCC vice president Hon Tendai Biti has slammed the Zanu PF regime for attempting to rob miners.

The Zanu PF leader Emmerson Mnangagwa says a new policy that compels miners to pay half of their royalties in commodities and half in cash will be effected from this month as the country attempts to build precious metal and mineral stockpiles for the first time.

However, Biti has described the regime as clueless and desperate.

“The regime’s directives that half of mining royalties must be paid as processed ore with effect from October is one of those ill thought zany ideas that reflect vacuousness & cluelessness

For starters no changes in royalties regime can be made without changes in the law & parliament s involvement & approval. Secondly whilst a case can be made for building gold reserves , it is absolute insanity to keep reserves of chrome ,lithium or platinum . Why and what for ?

Minerals are not liquid & have fluid values determined by international commodity markets . Determining value for royalty purposes will always be a challenge . Particularly for platinum which has at least 6 derivative metals including rhodium. nickel , gold & silver,” Hon Biti argued.