USD12 billion mining economy achievable
Friday, January 31st, 2020
THE Minister of Mines and Mining Development Winston Chitando has reiterated that the USD12 billion mining economy will be achieved in the next three years owing to several mining projects that are coming on stream.
Speaking to ZBCNewsOnline this Thursday on the sidelines of the commissioning of a box cut at Great Dyke Investment, in Darwendale Minister Chitando said the mining company will play a key role in the attainment of a US$12 billion mining industry by 2030.
“Some people are sceptical about the 12 billion dollars mining economy but it is going to be achieved. The 12 billion dollars mining economy is the culmination of a process of identifying the mining resources. In platinum we are going to achieve the 3 billion dollars considering that Karo Resources, Great Dyke Investments and Todal projects are coming on board while other smaller investments are coming through,” he said.
Under the US$12 billion mining roadmap, gold is expected to contribute US$4 billion, platinum US$3 billion while chrome, iron, steel diamonds and coal will contribute US$1 billion.
“The 12 billion mining economy by the year 2023, like I said so many times, it’s a not an event but a process that process is well underway and evidenced by what we have witnessed today. Over the next few months, will be witnessing slowly but surely a lot of these commissioning and the 12 has to be and will be achieved with no doubt,” he said.Lithium is expected to contribute US$500 million while other minerals will contribute US$1,5 billion.
With several mining projects coming on board, the government believes considerable progress has been made towards the achievement of the mining roadmap.
The target does not factor in downstream industries.
Key deliverables of the sector include enhanced exploration, enhanced investment and capacity building, increased productivity and employment creation, greater value addition, increased exports and foreign currency generation and ensuring optimum benefits to the country and the people.