mining float.jpgThe country’s mining industry is this year expected to grow by 60% on the back of improved production and viability for several mineral commodities.

 

The sector is expected to register increased output due to the prevailing stable economic conditions that have also provided a platform for the re-opening of mines which had shut down operations.

According to  2011 mineral production target statistics from the Chamber of Mines, the anticipated growth in strategic mineral production is, among other factors, set to unlock foreign exchange receipts, create new jobs, facilitate viability of mines and improve business confidence.

Chamber of Mines President, Mr Victor Gapare, said inspite of the slow pace in terms of the revival of mineral production, projections show that minerals such as gold, platinum, chrome, coal, nickel and diamonds will surpass last year’s production volumes by more than 60%.

“There is likely to be a surge in overall mineral production in a move that will translate into increased output in both the short to long term,” he said.

The mining industry is being poised to take a lead in terms of facilitating economic recovery as well as ensuring that the projected 9,3% economic growth rate becomes a reality by end of this year.

Stakeholders in the mining industry are however calling upon relevant authorities to solve production constraints affecting several mines characterised by load shedding, shortages of raw materials and a weak domestic demand.