Business Reporter

President Mnangagwa has today commissioned a gold processing plant at Eureka Gold Mine in Guruve, Mashonaland Central saying that the event was a reflection of the many successes of the Second Republic with regards to reforming and opening up of the economy.

Speaking at the occasion, the President said the mining sector was critical to the revival of the country’s economy.

“As you are aware, the mining sector remains a critical player in the country’s socio economic development. It contributes more than 60 percent of export revenue, employs over 45 000 formal employees and attracts significant foreign direct inflows in the country, over and above many other broad based empowerment and employment initiatives,” said the President.

The President commended Eureka Gold Mine for investing US$49.11 million into the gold processing plant and said this was in sync with the aspirations set in the National Development Strategy (NDS1), particularly on mineral beneficiation and value addition as well as the creation of value chains that anchor the national industrialization policy.

President Mnangagwa said the government was ready to welcome more investments in the mining sector and added that the focus now was to widen the scope for mining exploration and development as well as beneficiation and value addition of the country’s minerals.

The President added that the Second Republic remains available to dialogue with all investors to ensure a consistent and predictable policy and ease of doing business environment. He assured Eureka Gold Mine and all other investors that the government is a listening government and will do everything possible to assist investors.

President Mnangagwa said that in line with the country’s devolution and decentralization agenda, the mining sector investments are exhorted to be proactive by setting up contemporary Corporate Social Responsibly initiatives that dove tail with the country’s development epoch. The President added that Eureka Gold Mine’s plans to support and partner surrounding communities focus on health, education and environmental protection, was a welcome development.

He reiterated that under his administration, the government and the private sector will continue to work hand in glove towards the modernization, industrialization and sustainable growth of the economy.