The new player in the platinum mining sector is set to join other miners such as Zimplats, Mimosa and Unki mines. All these developments are a clear indication that the mining sector is set for a growth trajectory and that President Emmerson Mnangagwa’s “Zimbabwe is open for business” initiative is bearing fruit.
Last week saw the signing ceremony of an investment agreement on Southern Serui Platinum Concessions between Government of Zimbabwe and Bravura Consortium for the aero-magnetic exploration of the 3 000 hectare Muflox claims. The claims are located north of Selous along the Great Dyke in Mashonaland West Province. Karo Resources recently launched its investment proposal on a concession in the same province.
Anjin Investments and Alrosa are also set to start mining diamonds in Marange soon. Another miner is also set to be licenced soon in the diamond mining sector. The new dispensation is on a roll and is unstoppably moving forward. It is not reneging on its word on economic recovery and this will improve Zimbabwe’s and improve the quality of people’s lives.
Speaking during the ground breaking and signing ceremony of the Agreement for the Maflox Claims Concession with Bravura, the company’s Vice Chairman Mr Benedict Peters said, “Your Excellency, your policy thrust and announcements are too appealing to resist and are central to the reasons why we are here. We see in Zimbabwe a nation immeasurably blessed with immense natural resources, a dedicated and resourceful people and now blessed with committed Government hugely endorsed by faith, trust and confidence of a deserving citizenry.”
“The combination of positives have attracted us to Zimbabwe and by our involvement in this venture, we re-assert and re-iterate our unequivocal confirmation that we are here fully, completely and (we are) totally committed to aiding the continuing development of the economy of Zimbabwe for the good and well-being of its good people,” said Peters
This shows that Zimbabwe through the new dispensation under stewardship of President Mnangagwa is on the right track to development. Despite detractors’ spirited efforts to the contrary, the President’s investor attraction initiatives are paying off.
The mining sector in Zimbabwe is one critical industry which the Government is working hard to revive since it helps boost Zimbabwe’s economy and attract investors who are willing to invest in industry. Zimbabwe has vast natural resources which need to be exploited as it seeks to develop, modernise and industrialise in its aspiration to become a middle income economy by 2030. The country’s mineral treasure includes diamonds, gold, platinum and chrome just to mention a few.
Mining is one of the sub-sectors which are very key in growing the economy of the nation. Other sub-sectors include agriculture, tourism and Information Communication and Technology (ICT). Manufacturing, infrastructure development, transport and other social services are also play a crucial role in Government’s economic recovery efforts.
Zimbabwe held an annual mining conference in Victoria Falls last week which saw thousands of potential local and international investors coming together to share ideas, technology and exchange notes on how to grow the mining sector in Zimbabwe. The programme was meant to align the private sector growth plans with Government’s vision 2030 narrative.
President Mnangagwa officially opened the three day annual mining conference where he assured investors that their investments were safe in the country.
“Investments into the mining sector and mining value chain are welcome and safe in Zimbabwe. We continue to prioritise the processing and issuance of exploration licences in order to revamp mineral exploration across the country. The facilitation for the opening of new and closed lines, capacity utilisation as well as projects expansions and local beneficiation are ongoing,” said the President in his address.
President Mnangagwa, as a man of his words, is working hard to revive this industry which had died during the previous government. Since assuming power in November 2017, his message has been the revival of economy and that is exactly what he is doing. He has been on an engagement and re-engagement drive which is opening up Zimbabwe to the world and bringing investment into the country from across the world. The developments in the mining sector should be seen in the light of this ground work.
Government’s Transitional Stabilising Programme (TSP), which is calculated to revive the economy, speaks to the re-reopening of closed mines, expansion of those that are operating below capacity and the opening new ones. A few months ago Government approved a $350million investment deal in which Zimcoke (Private) Limited would revitalise to the coke plant within Ziscosteel, thereby creating over 800 jobs. Of the $350million, $133million would be capital injection while $225million would cover the debt owed by Ziscosteel to German bank, KFW.
Minister of Industry and Commerce Mangaliso Ndlovu visited Ziscosteel a few days ago where he commissioned the Zimcoke takeover of the coke oven as the deal starts bearing fruit. This marked the first step towards the revitalisation of idle mines and mining-related industries.
The country stands to benefit from the revival of the mining sector in many ways. These include profit making for the investors and employment creation for the locals which will, in turn, improve the quality of life for several people and families. The revival of mining sector will see the economy of the country improving significantly thereby reducing poverty.
While economic revival is not an event, the strides made so far especially in the mining sector and the resultant outcomes point to a bright future.
