Zimbabwe: Us$12bn Mining Target Achievable - - Experts

16 October 2019

THE US$12 billion mining industry strategic roadmap launched by President Mnangagwa on Monday represents a great opportunity for Zimbabwe to transform the economy, while also setting the stage for the attainment of an upper middle income society by 2030, experts have said.

The experts said there was need for support structures to ensure the attainment of the US$12 billion target.

Diamond expert and inaugural Zimbabwe Consolidated Diamond Company chief executive Mr Mark Mabhudhu said the country had the mineral and human resources to achieve the target.

"The mining industry strategic roadmap launched by His Excellency (President Mnangagwa) sets the tone for the unequivocal achievement of the medium to long-term objectives of the mining sector, which heavily anchor the attainment of Vision 2030 for Zimbabwe," he said.

"The constellation of projects outlined by mineral type helps the country to provide focus and channel resources in those minerals that create value for the economic revitalisation effort.

"However, it will be prudent for the Ministry (of Mines and Mining Development) to provide robust and sufficiently resourced support structures to enable the implementation of all the prioritised projects."

Mr Mabhudhu said human resource skills, which include astute leadership, as well as technical expertise in those mineral segments, will drive the overall achievement of these "big hairy, audacious goals".

He said Zimbabwe was replete with highly-regarded and internationally recognised skills which will accelerate the implementation and the overall achievement of the set goals.

"The Minister of Mines and Mining Development (Winston Chitando) is greatly appreciated for driving such an initiative which will accelerate the economic turnaround of our country," he said.

National Business Council of Zimbabwe (NBCZ) president Mr Langton Mabhanga said: "The US$12 billion mining strategy with a capacity to transform Zimbabwe into an exporter of electricity, represents potential economic miracle and transformation.

"Empirical and quantifiable mineralogy and values are critical parameters that the line Ministry (of Mines) must ascertain on behalf of the nation.

"This would also help to put the US$12 billion into perspective. Precise production milestones, sustainable environmental management strategy and deal modelling that ensures shrewd and maximum earnings for Zimbabwe will be paramount."

Mr Mabhanga said the mining industry demands "nation-centred negotiation intelligence capable of undoing the poverty seizures currently affecting our rural communities and general infrastructure".

The mining sector generates about 70 percent of the country's forex earnings. The projected increase represents a 344 percent jump from US$2,7 billion achieved in 2017. Mining houses undertaking various projects towards the attainment of the target have been identified while negotiations with others are in progress.

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