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Mines Ministry Needs $8 Million To Lure Investors - Minister

Mines Ministry Needs $8 Million To Lure Investors - Minister

The Mines Ministry is demanding $8 million from the 2022 budget to woo investors into the mining sector and ensure that closed mines scattered around the country are reopened.

This was said on Sunday by Mines minister Winston Chitando in a report which he presented in Victoria Falls during the 2022 pre-budget seminar in response to issues raised by the Parliamentary Portfolio Committee on Mines. He said:

The ministry will enhance its efforts towards the resuscitation of closed mines. A total of $8 172 604 is required to support promotional activities, engagement with investors and relevant stakeholders towards the reopening of the closed mines.

More effort is also being made through Zimbabwe Mining Development Corporation (ZMDC) whereby they are engaging various investors to reopen closed mines. The ministry intends to transform the Lupane office into a full-fledged provincial office. Currently, Bulawayo Metropolitan hosts most of the staff and operations of the province.

Chitando said during public hearings by the committee on the 2022 national budget, members of the public demanded that government must prioritise the reopening of closed mines throughout the country to enhance employment creation and improve mining revenue going into the national purse.

He said Zimbabwe had a lot of large-scale mines that were shut down due to the collapse of the economy leaving thousands of employees jobless.

He added that it was also recommended that a lithium smelting and processing plant should be set up to produce products rather than export raw minerals.

Zimbabwe intends to achieve a US$12 billion mining industry by 2023 with a view to attaining an upper-middle-income economy by 2030.

More: NewsDay

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Mr ndhlumbi 6 months ago

Uri mbavha Winston Chitando. 8 million yei? who doesnt know that Zimbabwe has resources. Investor asingazive Zimbambwe haasi investor. Stop corruption & all sectors will grow

Remember mushonga 6 months ago

I am a miner in mhondoro ngezi my name is Mr Remember mushonga I'm hereby applauding you the honourable minister chitando on sharing with the community ,I would like to take this chance to address my case to you through this platform ,I promise Zimbabweans only can work and resuscitate the economy through mining and other investments we have on our country but the main challenge we have is of corrupt and jealous people in other peoples businesses ,I met a challenge at my mine in July this year by chinhoyi ministry of mines ,I was manage to engage the capacited people to invest in my mine and they manage to inject $500 000 $usd ,and we could focus to export chrome minerals to Germany and China by January next year in accordance with our cash analysis our first turnover was going to be 1.8 billion and government could fetch its % there ,but its unfortunately chinhoyi ministry of mines came with hooligans such as Anotidaishe zivanai ,basopai chakwenya to claim my mine that is theirs after they see me working at my my mine since 2015 and I'm now domicile at my mine using my mine as a farm since is within my village in accordance with the Zimbabwean constitutional laws chapter 2 of section 13 subsection 4 said locals have the right to benefit from resources within their areas ,Nyahwema ,Roselyn ,Mudyawabikwa,Mubuwa they came to me whilst we were busy working and stops all the operations,whilst they were supporting thugs because they had bribed to take my mine from me .And all investors pulled out due to the disturbed so sometimes its not sanctions either lacking of investors that destroys our economy but we ourselves if we see someone trying make things to work out we make that person our best enemy ,Guess what all those people from chinhoyi ministry mines went and blacklisting because I refused to bribe them ,so what are saying honourable if you're leading people those who are after destroying your visions like that .

Trymore Bale 6 months ago

The massacre of our economy has more to do with these people in government than the sanctions they cry about.
Poor administration, myopic leadership and greediness. A few individuals who want to make the whole nation their cooperative society. The rest of the citizens, to them, amount to mere animals in a farm.
Beloved let's love one another and only be content with what rightfully belongs to us.

Nyamuteyi Takateya 6 months ago

Vakomana shuwa shuwa munoda kuba rungani ruzhinji rwuchikwangwaya nenhamo....
Musazodero kuramba mongodero imi mamero

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