mpofu obert 28.07.10.jpgZimbabwe Mining Development Corporation (ZMDC) has declared a US$3 million dollar interim dividend to its sole shareholder, government, amid calls for other parastatals in the mining sector to increase their contributions to the fiscus. 



The presentation of the US$3 million interim dividend for the period January to June 2010 by Zimbabwe Mining Development Corporation is part of the on going efforts by the corporation to revive its operations as well as increase its contributions to the fiscus.   


In his speech at the presentation ceremony ZMDC Board Chairman Mr. Godwills Masimirembwa who assured government of the corporation’s commitment in increasing the contributions to fiscus said the entity is working on revamping operations at its major mining concerns to ensure increased monthly output.


“We want to assure government, which is our major shareholder that we remain committed to ensuring that we increase our contributions to the fiscus.


“As an entity we are working on refurbishing our major gold mining concerns to ensure that they operate profitably”,  said  Mr. Masimirembwa. 


Mines and Mining Development Minister,  Cde Obert Mpofu who stressed the critical role of the mining sector in the revival of the economy challenged other parastatals to increase their contributions to government.
“The sector has a critical role to play in the revival of the economy and our diamond resource as well as firming commodity prices present us with a chance to attain positive growth in the sector.


“Let me challenge other parastatals within the ministry to emulate your gesture by increasing their contributions to the fiscus,” said Cde Mpofu.


ZMDC has so far this year declared a total of US$4 million to government following a US$1 million dividend presented to fiscus in March.


 The corporation which falls under the Ministry of Mines and Mining Development is currently in joint venture partnerships with Carnadile and Mbada Diamonds in the exploitation of Marange diamonds.