NDS-1: mining to spur economic growth

The accelerated extraction and beneficiation of mineral resources during the first phase of National Development Strategy One is expected to contribute significantly to set targets of economic growth.

Lithium is one of the key minerals which was previously under-explored but investment on the Arcadia Lithium Project in Goromonzi by Australian firm, Prospect Resources, is expected to spur the creation of a US$12 billion mining economy by 2023.

In an interview with ZBC News, Prospect Resources Managing Director, Mr Sam Hossack revealed plans to fully develop the Arcadia Mine this year.

“We have made huge strides in terms of exploration but during the year 2021 our major thrust will be to develop the mine so that production can start,” said Hossack.

Mines and Mining Development Deputy Minister, Honourable Polite Kambamura underscored government’s commitment to enhance the extraction and beneficiation of minerals in line with the set targets of National Development Strategy One.

He said: “The Arcadia Lithium Project is one of the investments which were carried out in the Second Republic and exploration has been completed with mine development expected to start once funding is sourced.

“However, we have also witnessed other investments in platinum and chrome beneficiation so we expect the mining sector to become act as a key pillar in attaining the goals of the National Development Strategy.”

Huge investments have also taken place in key mineral sub-sectors such as platinum, gold, diamonds and chrome, with the country expected to reap economic fruits in terms of increased job creation and foreign currency inflows during the implementation of NDS-One.

The post NDS-1: mining to spur economic growth appeared first on ZBC NEWS.

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