Staff Reporter

In order achieve its target of realising a US$12 billion Mining Economy by end of 2023; Government is set on sustaining its drive of prioritizing enhanced investments in exploration as well as the expansion of existing mining projects.

President Emmerson Mnangagwa made this declaration at the commissioning ceremony of the Muchesu Coal Mine in Binga District yesterday. 

"Government will continue prioritising enhanced investments in exploration, opening of new mines, beneficiation and value addition of minerals as well as expansion of existing mining projects. With today's event, value addition and beneficiation in the mining sector remains on an upward trajectory,” he said.

The Muchesu Coal Mining project has been identified as one of the largest coal ventures in the country with a capacity of producing 10 000 tonnes of industrial coal and 10 000 tonnes of coking coal per month. Contango Holdings, a coking coal mining subsidiary of a London-based company, is also developing the Lubu Coal project in Hwange, where 30% of the stake is owned by locals.

President Mnangagwa further promised that the Government will also continue to back mining expansion projects such as the Muchesu Coal Mine project.

"My Government is fully supportive of the beneficiation and value addition thrust being undertaken in the coal mining sector.  Notable is the fact that local coke production has increased,   with coke exports increasing by 327%, up from US$39 million in 2020 to US$166.4 million in 2022 as coke producing companies expand their operations,” he said.

He also urged private players to take advantage of the country's industrialization and modernisation thrust in economic development.

"The private sector is urged to complement Government efforts to ensure accelerated development for our beloved country. Vision 2030 is achievable and we all work in unity to grow, modernise and industrialise our economy for higher quality of life for our people,” he said.