Mashudu Netsianda — President Mnangagwa has emphasised the importance of ensuring that mining investments shaping up across the country result in the prosperity of all citizens, with benefits cascading to all levels of communities.
He implored mining companies to increase their focus on local development projects, going beyond merely extracting resources to ploughing back into their operating areas.
Mining is a crucial contributor to Zimbabwe's economy, and in recent years, the sector has responded positively to pro-investment measures implemented by the Government.
The revival of old mines and the establishment of new investments in the minerals sub-sector under President Mnangagwa's administration have resulted in the creation of more job opportunities for locals.
President Mnangagwa appointed a Cabinet Committee to spearhead the development of strategies geared towards amplifying returns in the mining sector. The Committee makes recommendations on enhanced mining regulations, focusing on contracts, incentives for investors, and revenues to make certain that the country benefits significantly from its vast mineral resources.
As part of the Second Republic's commitment to inclusive development and "leaving no one and no place behind", President Mnangagwa emphasised that communities, as natural resource owners, should benefit significantly from any exploitation of minerals by companies.
Officially opening the 27th edition of the Mining, Engineering, and Transport (Mine-Entra) Expo at the Zimbabwe International Exhibition Centre (ZIEC) in Bulawayo yesterday, the President urged mining companies to contribute to local infrastructure, education and healthcare projects in the areas they operate.
"The urgent challenge, therefore, is not only to produce more, but to also produce better. The benefits of mining should extend beyond mere extractive processes to positively impact communities and the planet as a whole," said President Mnangagwa.
"Players in the mining industry are urged to invest in projects and activities that increase production and productivity among communities over and above others that attend to the infrastructure, education and healthcare needs of our people for mutually beneficial relationships."
Last year, the Government made an impactful move to bolster the mining sector's economic contribution to the nation by scrapping the Special Economic Zone (SEZ) status for mining projects and removing tax incentives for investors to increase the value-added and beneficiation of minerals to maximise benefits to locals.
President Mnangagwa appointed a Cabinet Committee to spearhead the development of strategies geared towards amplifying returns in the mining sector. The Committee makes recommendations on enhanced mining regulations, focusing on contracts, incentives for investors, and revenues to make certain that the country benefits significantly from its vast mineral resources.
The removal of SEZ status saw companies losing lucrative tax exemptions and other benefits that previously resulted in disparities in the mining industry.
Similarly, President Mnangagwa's directives to those in leadership positions, including politicians, Government ministries, departments and agencies were clear- the people always come first, and the national interest is paramount.
"Our God-given minerals and natural resource endowments must benefit all Zimbabweans," he said.
Last year, the Government made an impactful move to bolster the mining sector's economic contribution to the nation by scrapping the Special Economic Zone (SEZ) status for mining projects and removing tax incentives for investors to increase the value-added and beneficiation of minerals to maximise benefits to locals.
He further called on mining companies to take bold steps towards innovation and technology adoption, which he said was crucial in enhancing productivity while addressing community and environmental concerns.
To ensure long-term viability, President Mnangagwa said embracing innovation was critical in enhancing efficiencies in the mining sector and must be scaled up.
"The innovation and technology nexus should result in, not only improved efficiencies, reduced costs and adherence to the concerns of communities and regulatory authorities, but the accelerated industrialisation and modernisation of our country," he said.
In line with the Fourth Industrial Revolution, the President urged mining firms to integrate cutting-edge technologies such as Artificial Intelligence (AI) into their operations, particularly in mineral quantification, smart mining and market forecasting.
"This is more so given that we are presently living in the era of the Fourth Industrial Revolution where the world is changing faster than before, characterised by new ground-breaking technologies, which are pushing the boundaries of the way we live," said President Mnangagwa.
He further stressed the need for mining operations to be environmentally conscious, underlining the duty to protect natural resources for future generations.
President Mnangagwa has taken to the podium to address delegates attending the 27th edition of the Mine Entra.
"We have a duty to protect our environment for both present and future generations. Hence, mining houses and other stakeholders have the obligation to commit to strict adherence to environmental regulations while maintaining the social licence to operate.
"In this regard, mining companies are urged to continue developing cleaner and more environmentally friendly solutions in the whole value chain of the business, as well as improve the efficiency and reliability of their processes."
President Mnangagwa said as the country looks into the future, the mining industry will, by and large, affect every facet of society.
"The mining sector, thus, has a responsibility to urgently and appropriately adapt. We expect spinoffs from mining into other sectors such as manufacturing, construction and agriculture, among others, which will, in turn, promote rapid industrialisation of our country," he said.
Going forward, President Mnangagwa said localised value chains must stimulate long-term economic growth, diversification and regional development through value-added processing and manufacturing.
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He said bold decisions must be taken within the mining sector for the requisite transformative upward and downstream linkages to speed up the expansion of mineral beneficiation and value addition.
"In this regard, mining houses are challenged to strengthen synergies with suppliers, inclusive of institutions of higher learning, for the development of technological solutions, methods, and techniques in mining projects and operations.
"This will allow for symbiotic relationships with mining suppliers who have intensive local knowledge and are capable of providing customised solutions for mining entities".
Equally, President Mnangagwa said new frontiers such as electro-mobility, invisible zero-waste mining and continuous mining, among others, should be prioritised.
He called on mining firms to work concertedly to prudently use energy and water as well as lower emissions and waste generation.
The President also commended mining companies that have already invested in renewable energy solutions like solar power, noting that such initiatives reduce carbon footprints and contribute to sustainable operations.
This year's Mine Entra Expo, running under the theme "Unearthing Success: The Mining Value Chains, Innovation and Industrialisation Nexus," saw a notable increase in exhibitors, with 255 direct exhibitors compared to 204 last year.
The event also attracted 19 international exhibitors from other countries, including China, Democratic Republic of Congo, India and South Africa.
