Continue to evaluate your progress – President tells miners

by | Jun 5, 2021 | Business, Local News | 0 comments


Pretty Manyewe in Victoria Falls

President Emmerson Mnangagwa has called on miners to constantly review their progress to ensure they remain aligned to the national vision of a US $12 billion mining industry, which is supposed to be come a reality by 2023.

He made this call at3 Annual Mining Conference and Exhibition in Victoria Falls today.

The conference was running under the theme “Navigating Turbulent Times- Sustaining growth of the Mining Industry beyond COVID-19”

This event came at a time where the mining sector is expected to play a pivotal role in the achievement of the National Development Strategy (NDS1), hence the need to meet and discuss ways to sustain the industry during a pandemic.

President Mnangagwa highlighted the importance of the mining industry in the development of the country saying, “Our significant deposits of over 60 exploitable minerals remain intact, making prospects for the mining sector to ensure sustainable economic development, growth and prosperity bright. Due to this diverse mineral endowment, investment opportunities abound across the entire mining value chain which should ensure the sector continues to contribute over 60% of Zimbabwe’s export receipts and provide significant employment opportunities.”
President Mnangagwa went on to highlight that the goal of increasing the mining industry into a 12 billion dollar sector seemed a bit ambitious at first but now it is an achievable goal.

“The sector continues to gravitate towards the attainment of its goal of a US$12 billion mining industry by 2023 through the green and brown field investments. The institution of various measure targeted at attracting investments, enhancing exploration activities as well as opening of new and idle mines is set to further augment ongoing efforts. This should see Zimbabwe edging closer to the goal of being an Upper Middle Income Country by 2030,” said President Mnangagwa.

The Second Republic continues to show support in helping the mining sector attain its goals by improving the ease of doing business

“My Government is continually improving the ease of doing business, including ensuring a stable macro-economic environment. This is further supported by the ongoing upgrading of our national transport infrastructure. The long awaited introduction of a computerized Mining Cadastre system must be expedited to as to improve efficiency in mining administration and enhance mineral accountability,” said President Mnangagwa.

President Mnangagwa ended his speech by reiterating the importance of the recently signed Petroleum Exploration and Development Production Agreement.

“Earlier this year, my Government signed a Petroleum Exploration and Development Reduction Agreement with GeoAssociates (Pvt) Ltd to carry out exploration and production of oil and gas in Muzarabani. The signing of that agreement is a massive leap towards tapping into the oil as gas industry which is a new frontier in the country’s mining history. This presents huge, unique and competitive investment opportunities including the production of liquid fuels and various downstream linkages such as electricity generation,production of liquid petroleum gas, fertilizers and use in the petro-chemical industry,” said President Mnangagwa.