Zimbabwe had no intention of cancelling mining licences of foreign companies and would continue talking with some of them about a new law requiring them to give Zimbabweans a 51% stake in their local holdings, the mines minister said.
Companies such as Zimplats, a subsidiary of South Africa's Impala Platinum, have been in talks with the government for months over the law.
Minister of Mines Obert Mpofu told a mining conference in Harare that the government did not intend to cancel any licences.
"There are negotiations taking place. No licence has been cancelled. We have no such intention."
The Zimbabwean government and Zimplats said they had agreed to produce a revised plan for complying with a law requiring mining firms to turn over a 51% stake to Zimbabweans.
Zimplats' initial plan was rejected and the empowerment minister asked the mining ministry to cancel the company's licence. But on Tuesday the company said it could produce a revised plan.
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