Mining sector to grow by 11% this year
The mining industry is expected to have an 11 per cent growth output in the second half this year, after seeing production fall across key minerals in the first quarter.
Vongai Mbara
Delivering a State of the Nation Address at the Fourth Session of the Ninth Parliament, President Emmerson Mnangagwa said the mining sector is expected to swing into an 11 per cent growth due to new innovative programs in the sector.
“The mining sector this year is expected to grow by 11% as a result of robust programs which encompass increased exploration and expansion projects, resuscitation of closed mines and opening of new ventures as well as mineral beneficiation and value addition,” said the President.
This comes as Government pushes for a US$12 billion mining sector by 2023.
Last year, overall production fell by 4,7 per cent due to the negative impact of the Covid-19 pandemic and other challenges while production fell across key minerals in the first quarter.
Volume declines over the 12 months to December 2020 were recorded in gold, lithium, high carbon ferrochrome ore and copper while platinum, palladium, rhodium, diamonds and cobalt registered expansion.
However, with new mining policies, provisions and projects, the government believes that an 11% growth in the mining sector is achievable this year.