By ZBC Reporter
The President Cde Emmerson Mnangagwa says his administration accords significance importance to the mining sector in speeding up the realisation of the outcomes outlined in the National Development Strategy One and ultimately Vision 2030.
He was speaking during the event of the signing of a USD1.4 billion Dollar Memorandum of Agreement by the Ministry of Mines and Mining Development, The Ministry of Finance and Economic Development and Zimplats on the sustainable development of the platinum group metals at State House this Thursday morning.
The President highlighted that the signing attests to the growing confidence of global capital in the country.
The signing of this agreement attests to the growing confidence of global capital in our economy and the Second Republic’s Policies.It further reflects the importance of my administration to the mining sector in speeding up the realisation of the goals set out in NDS-1 as well as the attainment of Vision 2030,he said.
He also expressed optimism over the potential carried by the mining sector and how much it can contribute in the economy.
As you are aware Zimbabwe is endowed with a variety of mineral resources. It is therefore pleasing that the platinum mining sub sector has a number of developments taking place including extensive exploration,opening up of new mines as well as expansion of existing projects.These wil see the Platinum Sub-sector contribute about USD3 Billion Dollars towards the target of a Usd12 Billion Mining Sector by 2023,he said.
He also commended Zimplat’s consistency in partnering government initiatives as well as its role in Corporate Social Responsibility.
Meanwhile I commend Zimplats for bearing a consistent and reliable partner in various national developmental programmes. This is evident of the company’s high impact Corporate Social Responsibility Programmes in housing,health ,education,local enterprise and most recently in ou agricultural programme.Such interventions resonate with the the development culture of the Second Republic which has based on equalized development.
Zimplats has invested in projects amounting to US$1.7 billion which it presented to President Emmerson Mnangagwa.
The projects include :
- The Turf Housing Development Project for mine workers
- Third Concentrator Plant Project which will see 100 permanent jobs being created
- Smelter expansion plant project which has a capacity to produce 100 kilo tonnes per annum of sulphuric acid , which will be used in the local production of phosphate fertilizer thereby replacing current acid imports
- It will also boost to other industries such as water purification, battery manufacturing and other chemical industries.
- Expanded Smelter Project
- Smelting capacity increased from 132 kilo tonnes to 380 kilo tonnes of smelter concentrates capacity to smelt own sources and local third parties.