Findings by the Institute of Mining Research (IMR) have revealed that Zimbabwe’s Mining Business Confidence Index (MBCI) which dropped to 2 percent in 2019 can recover if a resource extraction sector development policy is finalised.

The mining business confidence index (MBCI), compiled by the chamber of mines, dropped to 2,2 percent this year from 8 percent at the end of last year due to concerns over power cuts and limited foreign currency.

Chairperson of the Institute of Mining Research at the University of Zimbabwe, Lyman Mlambo says, recovery of the sector now depends on the ability by the government to urgently finalise regulations that stabilise operations.

He adds that policies to increase profitability, facilitate viable commodity prices, access to capital, title security, and investment plans will also add to a rebound within the sector’s business confidence.

“We are just hopeful that the implementation of a sector development policy will further add more to the growth prospects,” he said

Zimbabwe earns much of its foreign currency from the mining industry which accounts for 68 percent of export receipts.