diamonds 03.08.10.jpgThe mining industry has called on the government to set up a mineral value addition strategy aimed at processing raw minerals into finished commodities in order to increase revenue inflows.

This was revealed in proposals that were submitted by the mining sector last week to the Ministry of Finance for consideration in the 2011 mid-term fiscal policy next month.

Players in the mining sector say the absence of a value addition strategy is making it difficult to unlock export receipts.

Zimbabwe Miners Federation President, Mr Trynos Nkomo confirmed that stakeholders in the sector are lobbying for the value addition policy to consolidate gains that have been achieved by the mining industry in the past   two years.

The proposed value addition strategy, which comes when the mining sector is showing signs of recovery, will focus towards mobilising US$20 million for the purchase of machinery.

Zimbabwe’s mineral growth for this year has also been revised upwards to 55% from 40% after the realisation by the chamber of mines that key minerals such as gold, platinum, coal, nickel and chrome have already surpassed first half targets in terms of output and earnings.