Mining sector to anchor economic growth

By Owen Mandovha

THE country’s mining sector is proving to be the linchpin of Zimbabwe’s quest to become an upper middle-income society by 2030 as new projects continue to be rolled out.

The projects are being rolled out at an unprecedented scale countrywide, thanks to the Second Republic’s drive to lure more investments into the sector.

Speaking at the signing ceremony of the Memorandum of Understanding with two Chinese investors at State House for the construction of a mines to energy industrial park in Mashonaland West Province this Friday, Mines and Mining Development Minister, Honourable Winston Chitando acknowledged the quick transformation of the mining sector under the leadership of President Emmerson Mnangagwa.

“There is no doubt that the mining industry is fast transforming as we witness actively on a daily basis, which attests to the growth of the industry, unseen in the history of Zimbabwe’s economy,” he said.

Minister Chitando further attributed these developments to the open for business reforms instituted by the Second Republic.

“There is an increased inflow of capital into the sector that is underpinned by the general improvement of the environment. More projects will be realised as our march towards becoming a US$12 billion economy continue,” he added.

Eureka Gold Mine, which was commissioned on 2018, is now in full scale production, while Arcadia Lithium Mine is building one of the biggest lithium processing plants on the continent after its commissioning in 2018.

The Muzarabani Oil and Gas project is progressing well as the company is currently undertaking exploratory drilling with expectations of a commercial discovery very high.

These are just examples of projects currently taking place in the mining which underlined how the sector will propel Zimbabwe to become an upper middle-income country by 2030.

The post Mining sector to anchor economic growth appeared first on ZBC NEWS.

Leave a Reply

%d bloggers like this: