The country is richly endowed with abundant mineral
resources, ranging from gold, platinum, diamond to lithium, among others, which
will play a critical role in making Zimbabwe an upper middle-income society by
2030.
In 2018 the country’s mining sector was generating just
US$2,8 billion annually, but through investments in new mines, the revival of
dormant ones and the opening of greenfield projects, Zimbabwe is now poised to
surpass its initial US$12 billion mining industry target.
A host of activities have been lined up and new policies
crafted, including the requirement for extractors of gems and precious metals
to pay half of their mining royalties to the Government through minerals, as
the country heightens moves to build its mineral reserves.
Previously, miners were only paying monetary tax but the
new new measures compelling them to remit physical minerals are set to be a
game changer.
Speaking during Zanu PF’s 121st Ordinary Session of the
Central Committee and the last one for this year at the ruling party’s
headquarters in Harare last week, President Mnangagwa said the country was
realising huge successes in the mining sector.
“The increased productivity across all sub-sectors such as
lithium, gold and platinum among others, along with the new discoveries of gas,
first and foremost, translate to benefits for our own people,” he said.
“There are some who thought we will wallow in poverty but
in mining, Zimbabwe is now among the top three countries on this continent with
the largest reserves of lithium. Now we have also discovered gas and oil in
Muzarabani, it will be a game changer.”
President Mnangagwa said while natural gas reserves had
been confirmed in large quantities what was left was to see whether the
discovered oil was also commercially viable.
He said strategic collaborations and partnerships were set
to increase value addition and beneficiation, accelerate industrialisation and
modernise as well as quicken infrastructure development across the country.
As the year was coming to an end, it was pleasing that the
ruling party continued to display collective determination, focus and clarity
on the need to pursue socio-economic projects for the benefit of people of the
motherland.
“Increased production and productivity, household by
household, village by village and ward by ward right up to the provincial
level, will go a long way in consolidating the economic gains we have realised
so far,” he said.
“With regard to the predicted negative effects of El Nino
on the current summer cropping season, I once again assure the nation that our
Zanu PF Government has put in place numerous strategies to make sure that the
welfare of our people, especially the most vulnerable, is safeguarded.”
The Government recently noted that Zimbabwe has over 60
recorded minerals but only 10 are being actively mined. The rest will be mined
once there is sufficient exploration and resource definition. Herald
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