mining equipment.jpgMiners have welcomed suspension of duty on mining infrastructure saying the measure will lure more investment in the sector.

Specified mining operations are set to benefit from a three year suspension of duty on mining infrastructure following the gazetting of Statutory Instrument 30 of 2017 which seeks to encourage investment for mining development.

Miners welcomed the move with Zimbabwe Miners Federation chief executive officer Mr Wellington Takavarasha saying the measure complements similar instruments that have already simulated investment in equipment.

Geologist Tapiwa Chakawa said the move should be supported by efforts to improve ease of doing business in the mining sector.

Capacity utilisation for the mining sector increased to an average of 64 percent in 2016 from 60 percent in 2015 and close to US$780 million worth of investment is required to further increase production for gold to 50 tonnes by 2020.

The government projected a modest 1.7 percent growth for the mining sector this year.