Zambia, Zimbabwe and South Africa Sign A Directive On Mineral Development

Yesterday a directive was signed between Zambia, Zimbabwe and South Africa on the revitalisation of the Pan African Minerals Development Company (PAMDC)

Felix Mhona, Transport and Infrastructure Development Minister for Zimbabwe, Frank Tayali, Minister of Transport and Logistics for Zambia, and Samson Gwede Mantashe, South Africa Minister of Mineral Resources signed the directive on behalf of their governments.

The signing represents a large step forward for PAMDC by offering a serious commitment to the firm despite its challenges.

Minister Mhona outlined that the communique that was signed “should be the springboard of our actions going forward.”

He stated that the company is currently insolvent and runs the risk of liquidation due to previous reckless behaviour but the new directive represents a change in values with governments outlining their commitment to upholding the relevant laws.

He said, “We should as the Council of ministers spearhead resolutions that will embolden in the PAMDC board and management to formulate and execute viable business strategies for the company, to declare dividends for the benefit of the three countries and their peoples.”

 Photo: The Herald