Caledonia Mining Corporation (CMCL)

[NYBob]

Govt. is not cancelling mining licences: Mpofu -
Newzimbabwe -
2011 by Reuters


Charm offensive ... Obert Mpofu
Indigenisation: miner targets pension funds, before 2014
Indigenisation to benefit few: Gono
Tsvangirai blasts indigenis -

MINISTERS have said the country would not suspend any mining
permits and that exceptions may be made to laws requiring
foreign miners to give majority stakes to locals, bringing
relief to a policy that has alarmed investors.

The remarks by the mines minister at a mining conference
come after most foreign operators appear to have bowed
to government pressure on the issue before 2014,
though details of deals struck remain clouded.

However, just a day after Kasukuwere threatened Caledonia,
the Toronto-listed gold mining concern said it was fully
committed to negotiations with the Zimbabwe government
over indigenisation.

“Caledonia and its chief executive officer, (Stephan) Hayden,
categorically deny having made any statements to the effect
that he and Caledonia are not wholly committed to the rapid
implementation of indigenisation of the Blanket Mine,”
the company said.

Hyden “refuted” allegations that he "scoffed at" the empowerment
drive.
Kasukuwere has warned foreign companies to comply with the
law while President Robert Mugabe, whose Zanu-PF party is
spearheading the policy, said last weekend that “51% control
(of foreign companies) must rest with our people”.

Kasukuwere also said on Monday that all foreign mining companies
should have complied with the law by December 2012.
but it doesn't agree with the Gov. law -
the Minister of Mining Obert Mpofu stated the law
at 2014 -

http://www.miningmx.com/news/gold_and_silver/Caledonia-plays-down-Zimbabwe-threat.htm

http://www.mining.com/2011/12/13/caledonia-mining-in-negotiations-with-zimbabwes-government/

http://www.caledoniamining.com/pdfs/12132011.pdf
http://www.caledoniamining.com

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Ps.
The gaffe riled Youth Development, Indigenisation and
Empowerment Minister Saviour Kasukuwere who
threatened Government takeover of Blanket Mine.
Its a political threat Mugabe used for 30yrs -
to gain votes before elections -
the youth movement also in SA use the same threat
to take over all mines in SA etc. etc. its NOT
the Gov. TRUE intentions!
Note....
Caledonia Mining need also to be listed on the
Zimbabwe Stock Exchange - so all 1000s of
millionaires investors from China who moved to
Zimbabwe and invested $10's of $billions in the
mining industry will be able to pick up the
very attractive Caledonia Mining Corporation's
share of gold mining shares of bargain Zim gold
mining -
Zim. Govt. would never cancel mining lic. and scare
off the great influx of rich investors from China.
Mugabe 88yrs old with prostate cancer and dementia -
been 14 times in 2011 to China in emergency treatments -
focus his time left on survival more than fighting -
with mining comp. etc.
The Prime Minister Tsvangirai; next in Pres. line -
http://www.zimbabweprimeminister.org/
-- is all pro-mining!

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Merry Christmas