eXcavate Mining Digest

How to buy a mining claim in Zimbabwe

---

Step 1 : Due diligence procedure

As buying of properties is a due diligence game, so is buying a mine in Zimbabwe because you can easily be disposed that mine after paying substantial amounts.
Firstly engage a legal and mining expect to verify if the mines papers are inorder under the following areas.

-The mine ownership has not forfeited for not paying annual inpection fees
-The mine doesnt have heavy penalties with EMA, Environment Management Authority.
-The mine financial and operatiol performance
-Valuation of mineral reserves and life of mine.
-Potential lablour liabilities like pensions

Step 2 : Documentation Verifications

- The mine certificate should be corroborated to be genuine
- if environment certification is there,
- Registered deed of transfer of onwership.
- Mining lease conditions if transaction under lease

Step 3 : Sales agreement prepared

- Mutually agreed terms and conditions, warranties, and indemnities
- Specify payment terms and timelines

Step 4 : Get a nod from Regulatory Authorites

- Notify and obtain approval from the Ministry of Mines and Mining Development
- Comply with environmental and labor regulations

Step 5 : Close the deal

-Make payments
- Transfer ownership
- Submit information to the Registrar of Deeds Office and Mining Affairs Board

Lemione Media : Reflections