mining float.jpgGovernment says mineral export earnings are this year expected to increase by 19% to US$2,8 billion due to increased production of strategic commodities.

According to official data compiled by the Ministry of Mines and Mining Development, and presented to mining stakeholders, Zimbabwe is expected to earn at least US$2,8 billion from mineral exports this year compared to US$2,6 billion last year.

This has been attributed to the anticipated surge in overall mineral output.

The data shows that of the projected mineral export receipts, platinum is expected to account for 41%, gold 38%, diamonds 13%, coal 7, 7% and nickel 3,4%.

A business analyst, Mr Zex Murerwa says the projected growth in mineral export earnings is likely to restore business confidence in the capital intensive but viable mining sector.

“This is set to restore confidence but let us wait and see the immediate results,” Mr Murerwa said.

An economic commentator, Mr Godfrey Dupwa says government and the private sector mining players should focus on mobilising adequate capital to ensure that the anticipated rise in mineral earnings becomes a reality by end of this year.

Mr Dupwa said: “This however requires concerted efforts among relevant authorities to boost growth.”

Government is also considering adopting a mineral development policy.

However, mining experts say the success of the proposed plan will depend on commitment by stakeholders to ensure that it is fully implemented to raise the required US$5 billion for the exploration of new mineral deposits in the next five years.