Terrence Chapwanya, a noted economic analyst, commended the Government's initiative.
"This is a monumental step, aligning perfectly with the Second Republic’s policy of engagement and re-engagement. By granting investors the rights to explore untapped mineral deposits in distinct areas, it promises to invigorate the mining industry," stated Chapwanya.
He emphasized the pivotal role the mining sector plays in Zimbabwe's economy, attributing over 75% of foreign exchange earnings to it and highlighting its influence in boosting Government revenues, creating jobs, and fostering infrastructure development.
Echoing Chapwanya’s sentiments, Mike Mashanje, another economic pundit, celebrated the Government's proactive measure.
"This gesture is a testament to the Government's commitment to revitalizing the mining sector, and it sends an unequivocal message to investors eager to join this dynamic surge," Mashanje remarked.
He also shed light on the alignment of this move with the Government's "Zimbabwe is Open for Business" stance, which has been instrumental in drawing global investors.
Mashanje further spotlighted the potential upswing in the mining sector with imminent projects like the Dinson Iron and Steel project, Sabi Star, and Zulu Lithium. Additionally, expansions of stalwarts such as the Pickstone Peerless Mine, Zimplats, Mimosa, and Unki accentuate the sector's bright prospects.
Another analyst, Edith Mushore, underscored the significance of Zimbabwe's representation in global conferences.
"Engaging in forums like Investing in Africa Mining Indaba, Africa Down Under, and China Mining Expo not only elevates Zimbabwe's stature but also beckons further investors. It's an astute strategy, aligning seamlessly with the Government's vision for the sector," the analyst observed.
With the endorsement of 38 active EPOs, Zimbabwe's mining sector is on the cusp of a prosperous era. This move is anticipated to magnetize investment, steering the nation towards enduring economic expansion, as echoed by the optimistic views of various analysts.
