Zimbabwe’s mining sector has set a $2.4 billion target for mineral commodity export earnings on the back of flactuating global commodity prices that have resulted in local mining firms battling to sustain viability.
The mining sector has not been spared from unattractive global commodity prices which to some extent have slowed down growth especially for the local platinum mining companies.
While the mining firms are already planning for next year, the sector has revised downwards export revenue projections for this year to $2.4 billion from the initial estimates of $3 billion.
Chamber of Mines chief executive officer, Dr Isaac Kwesu told the ZBC News the revised target is being made when the industry has raked in $1.4 billion on mineral export receipts since January.
“The target is now at $2.4 billion and we hope it will really be attained,” he said.
The mining industry is also in talks with the government over the fate of a 15 percent tax on unrefined platinum exports with officials saying the outcome of the matter will be revealed in the 2018 national budget policy statement.