"Zimbabwe's Mining Sector Raked In US$6 billion Since January," Mines Minister Chitando
Zimbabwe’s Mines and Mining Development Minister, Winston Chitando has said the mining sector raked in US$6 billion from exports since January 2022.
The country has targeted to generate US$8 billion by year-end.
In an interview with The Sunday Mail, minister Chitando said the U$$12 billion milestone was well in sight. He is quoted as saying:
On account of what we have achieved so far, you can see that the US$12 billion milestone is within reach. We have attained revenues of US$6 billion this year and this means our target of US$8 billion by the end of the year is achievable.
The strategy:
1). Minister Chitando said one of the strategies that Government will implement to boost production in mining is to support youths adding that the Ministry of Finance and Economic Development had allocated an initial US$10 million for youth in mining projects, particularly in the gold sector.
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Under the initiative, Government will facilitate the setting up of gold centres for youths to provide one-stop processing facilities for artisanal miners, including gold milling and metallurgical services.
Furthermore, authorities will assist youths to get mining claims.
2). Minister Chitando also said the Mines ministry has solid plans for value addition and beneficiation of minerals.
Major contributors:
Platinum, gold, diamonds and lithium are among the major minerals that have anchored growth in the sector this year.
Zimbabwe intends to generate US$4 billion from gold by next year. As of June, the country’s gold deliveries were up by 60 per cent compared to what was delivered last year.
This year, Zimbabwe is on course to produce more than 10 million carats of diamonds.
Several lithium projects are taking shape in the country, with the sought-after mineral expected to contribute at least US$500 million to the US$12 billion milestone.
Meanwhile, government critics say while Zimbabwe is endowed with vast natural resources and is host to more than 40 different minerals in the categories of precious metals, base metals, industrial metals and gemstones, the resources are only benefiting political elites.
