President Emmerson Mnangagwa has launched the US$12 billion roadmap for the extractive sector with focus on increasing production.

Addressing stakeholders in the mining industry, President Mnangagwa said the mining sector presents huge growth prospects towards the attainment of vision 2030.

“Our engagement and re-engagement process with the international community, the mining sector presents huge growth prospects towards the speedy attainment of our national vision to become an upper middle-income economy by 2030,” he said.

Zimbabwe is endowed with vast natural resources and is host to more than 40 different minerals in the categories of precious metals, base metals, industrial matters and gem stones.

“As government we are convinced that the mining sector is a forerunner in the provision of backward and forward linkages with other economic sectors of our economy, the creation of decent jobs, infrastructure development export earnings and becoming the most preferred investment portfolio in the economy, thus the attainment of vision 2030 is premised on the mining sector making huge contributions as demonstrated by the minister,” said President Mnangagwa.

The road map puts revenue projections to US$12 billion by 2023 as the sector is expected to increase production capacity in all minerals.

“The sector is believed to generate an annual revenue of US$12 billion by the year 2023 and this is a realistic target we are going to achieve without fail after interrogating the process.

As you may be aware in my State of the Nation Address I indicated that government was going to unveil a comprehensive mining development strategy and a roadmap towards the attainment of our national aspirations,” he said.

Players in the mining sector have pledged to work with the government in ensuring the implementation of the US$12 billion roadmap for the extractive sector with focus on increasing production.