The re-opening and privatisation of the majority of the Zimbabwe Mining Development Corporation (ZMDC) mines as part of the government measures to transform the mining sector is set to increase the country’s export earnings.
Most government owned mines such as Elvington and Gaths gold mines, as well as asbestos miner Shabanie and Mashaba, were major foreign currency earners and employment generators before their operations were mothballed by a variety of debilitating economic factors.
Those mines are still operating but at a loss, thus bleeding the country’s fiscus.
The government will in the next 18 months facilitate joint ventures with willing partners as part of the parastatal reforms especially on loss makers but will give a new lease of life to others which have a huge potential to recover.
These measures are contained in the budget presented by the Finance and Economic Development Minister, Professor Mthuli Ncube.
Other mines set for joint ventures include Jena, Sabi, Golden Kopje, Sandawana and former copper mining giant Mhangura Mine in Mashonaland West.