Six minerals dominated Zimbabwe’s mining sector growth in 2019 namely gold, diamonds, nickel, chrome, platinum and coal, this was revealed in Zimbabwe’s State of the Mining Sector report released this Thursday morning.
Capacity utilisation shrunk to 70 percent from 75 percent with the sector being negatively affected by power outages, fluctuating global prices and high cost of borrowing.
The sector has proposed cost reflective tariffs, to be prioritised on foreign currency retention and liberalisation of gold mining and trading.
The minister of Mines and Mining Development, Winston Chitando, has reaffirmed governments commitment to the growth of the mining sector and in addressing challenges affecting the sector. He stated that the US$12 billion mining vision by 2023 is still in place and achievable.
More to follow…