The mining industry attracted investments worth more than $200 million in the just ended year with expectations the relaxed indigenisation regulations will increase inflows in 2018.
Despite the country experiencing subdued investment inflows averaging $500 million dollars compared to regional economies that are attracting investments valued at $2.5 billion, the mining sector is dominating Zimbabwe’s investments.
The capital intensive sector attracted investments worth more than $200 million in strategic units such as gold, coal, chrome, nickel, platinum, diamonds among others, according to the 2017 mining industry survey report.
Average capacity utilisation was up at 17 percent in 2017 compared to 64 percent in 2016, with a fiscal consultant Mr Elisha Tshuma saying growth in the resources based sector has a potential to positively contribute to overall economic growth rates.
According to the survey, the mining sector is expected to record an output boom with its findings showing that 90 percent of the respondents are planning to increase output by more than 10 percent this year.