Zimbabwe’s mining sector is growing by 100%
According to Hon. Winston Chitando, Minister of Mines and Mining Development, the mining industry in Zimbabwe has increased by 100%.
Speaking at the 2018 Investing in Africa Mining Indaba, Chitando estimated that Zimbabwe’s extractive industry will generate US$5.4 billion in total revenue in 2022, a 100% increase over the sector’s size prior to his appointment as the Ministry’s top official.
In comparison to the USD 2.7 billion released in 2017, a total of USD 5.4 billion was released in 2022, according to Hon. Chitando.
Commenting on the feasibility of achieving the US$12 billion mining industry by 2023, as targeted by the Government, the Chamber of Mines Chief Executive Officer (CEO) Mr Issac Kwesu said the sector was doing all it could for the country to reach the set target.
“The industry is doing its best, to the maximum of its abilities. There has been some expansion, new mines being set up, and ramping up of production of existing mines all these are signs that we are committed to the US$12 billion. We will play our part because it is an all-stakeholder issue,” said Mr Kwesu.
The mining sector export earnings in 2021 reached US$5,2 billion, contributing more than 85 per cent to the national export value.
It has become Zimbabwe’s lynchpin in driving the economy during turbulent times across the globe through direct and indirect linkages with other key sectors of the economy.
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