PRESIDENT Emmerson Mnangagwa says with the vast wealth underground, coupled with sound economic policies, there is no need to cry about economic sanctions.
President Mnangagwa said this while addressing stakeholders at the official re-opening of Shamva Gold Mine which is a subsidiary of Kuvimba Mining House Group.
“I urge stakeholders in the industry to exploit resources for the benefit of Zimbabweans. With such wealth underground, if we produce strategic policies there is no need to cry about sanctions.
“To date, it is pleasing that we have seen investments in major mining projects such as the Great Dyke Investments, Muzarabani Oil and Gas, Arcadia Lithium Mine, Mvuma Iron Ore Mining, Pit-Stone and Blanket Gold mines among others being rigorously undertaken.
“I urge players in the sector to nurture and develop synergies towards ensuring that we unlock the value in Zimbabwe’s mining assets; which include diamonds, gold, lithium and rare earth minerals, among others,” he said.
President Mnangagwa applauded Kuvimba Mining House for the expected contribution towards economic development in the mining sector.
“The socio-economic benefits derived from the reopening of this mine and the whole economy at large is immense. I am informed that Shamva Gold Mine is set to contribute between five and eight tonnes of gold per annum within the next five years.
“Thus, significantly contributing to the attainment of our mining strategy and other development targets outlined in the National Development Strategy 1.
“I applaud Kuvimba Mining House for the ambitious timeliness which they are adhering to and successfully achieving. In this regard, it is commendable that the entity has since acquired capital investment required for the venture, which is in excess of USD1 billion,” he said.
Zimbabwe has endured almost two decades under the illegal economic sanctions imposed by United States of America and its Western allies. These sanctions have crippled economic growth though government has come up with several sanctions busting measures which have seen economic turn around and mining is a game-changer in this regard.
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