Zimbabwe will be taking part in the 4-day Mining Indaba where government is expected to reach out to potential investors in the resources sector.
The Mining Indaba which will be held in Cape Town, South Africa, comes when government has reviewed the 51 and 49 percent shareholding thresholds for the mining sector with the exception of platinum and diamonds.
The government, through the Minister of Mines and Mining Development Cde Winston Chitando, the Minister of Finance and Economic Planning Cde Patrick Chinamasa, among key officials are also expected to provide keynote speeches to more than 6 000 expected global investors.
Zimbabwe’s mining sector is dominating overall foreign exchange receipts with optimism the indaba will increase external investor participation in the capital intensive but viable resources industry.
Mineral export receipts are being expected to reach US$2.5 billion this year buoyed with improved global mineral prices, enhanced value addition and renewed investor sentiment of resources sector.
Gold, platinum, diamonds, chrome, nickel, coal continue to dominate mineral export receipts although concern is being raised over alleged smuggling of commodities, limited beneficiation and failure to explore minerals.