Staff Reporter
Zimbabwe’s mining sector achieved a remarkable milestone last year, selling over four million tonnes of minerals, excluding gold and silver, despite facing challenges from depressed global commodity prices.
The Minerals Marketing Corporation of Zimbabwe (MMCZ), the state-owned entity responsible for marketing all minerals except gold, reported a rise in production levels. However, overall revenue dipped due to lower international prices.
In an interview with the media, incoming MMCZ General Manager, Dr. Nomusa Moyo, highlighted the sector’s resilience and growth potential.
“While mineral revenues have been affected by low prices, we witnessed a recovery in the last quarter, with platinum emerging as the leading revenue contributor. Diamonds, lithium, chrome and coal are also driving the sector’s growth,” said Dr. Moyo.
Zimbabwe’s mining industry continues to strengthen its position as a key driver of economic growth. The MMCZ is working on diversifying export markets to maximize revenue.
“We are actively scouting for markets that offer the best potential to boost revenues. Our priority is to focus on minerals that can generate significant income and ensure the mining sector remains a pillar of the country’s economic growth,” Dr. Moyo added.
Mining contributes over 70% of Zimbabwe’s foreign exchange earnings annually, reinforcing its status as a cornerstone of the economy. The sector’s robust performance aligns with the Government’s vision of achieving a 12 billion dollar Mining Economy by 2030.
In addition to exploring new markets, the industry is capitalizing on investments in capital-intensive resource extraction, particularly in platinum, lithiumand diamonds. These minerals are poised to play a pivotal role in Zimbabwe’s economic transformation.
The MMCZ’s proactive approach and the mining sector’s resilience are expected to fuel a further surge in mineral sales, setting the stage for a more diversified and robust economic outlook. By consolidating its gains and targeting high-value markets, Zimbabwe is positioning itself as a leading player in the global resource industry.
As global commodity prices recover, Zimbabwe’s mining industry is well-placed to scale new heights, contributing significantly to the nation’s economic growth and Vision 2030 goals.
