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Saturday, July 22, 2017

Zimbabwe: Mineral Exports Exceed $1 Billion Mark

Mineral exports exceed $1bn mark . . . figure excludes stock piled diamonds

July 21, 2017

Minister Chidhakwa

Ishemunyoro Chingwere in Bulawayo
ZIMBABWE’S total mineral export earnings in the first half of the year have exceeded the $1 billion mark as Government and miners move to grow the sector from a $2 billion to a $3 billion a year export sector, delegates attending the 22nd edition of the Mining, Engineering and Transport Expo (Mine Entra) have been told.

These earnings, however, exclude the key diamond sector whose product continues to stockpile as state entity, the Zimbabwe Consolidated Diamond Company, has adopted a stock piling policy at the advice of the Reserve Bank of Zimbabwe for later sell at the opportune time to the best bidder.

Addressing the Mine Entra Conference, Mines and Mining Development Minister Walter Chidhakwa, whose speech was read by his Industry and Commerce counterpart Dr Mike Bimha said there remains great potential for the rebounding Zimbabwe mining industry which has over 60 minerals.

“As of 30 June this year, mineral exports excluding gold, have accrued $777,90 million compared to $565,24 million same period in 2016,” said the minister.

“Gold exports were at $324,06 million as of June 2. The total translates to a total mineral export value of more than $1,10 billion. This export value could be much more if we incluide diamonds.

“This year, we have to grow the mining sector exports to a $3 billion economy from the current $2 billion,” he said. Meanwhile, The Mine Entra has not been without incident with miners, especially small scale producers, complaining to the Ministry of Mines that they are being forced to spend a lot of energies fighting for mine title due to double allocations and/or unprocedural withdrawal of claims.

Ministry of Mines and Mining Development Deputy Minister Fred Moyo and permanent secretary Mr Munesu Munodawafa were on Tuesday forced into a long late night meeting by small scale miners most of whom fall under the umbrella body of the Zimbabwe Mining Federation who registered their displeasure with the way they are frequently pushed off their mining claims.

To this end, Government said it is adopting a computerised mining title system which among other things, it hopes will prevent double allocations and enhance production.

“In order to unlock value, avoid double allocation of title over the same ground and enhancing security of tenure, Government has embarked on computerisation of mining title system,” said deputy minister Moyo.

“In this regard my ministry is already working on this computerised mining system. I therefore call upon all title holders, both companies and individuals to corporate with our respective provincial mining offices and update information on their mining titles,” he said.

Source: The Herald



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