- October 17, 2019
- Posted in LOCAL
THE Chamber of Mines of Zimbabwe (CoMZ) is strongly behind Government’s vision of attaining a US$12 billion mining sector by the year 2023, but cautioned that unity of purpose was required for the milestone to be achieved.
This was said by CoMZ president Ms Elizabeth Nerwande yesterday.
The US$12 billion mining sector strategy was launched by President Mnangagwa in Harare on Monday.
In a statement, Ms Nerwande said the journey towards a US$12 billion mining sector inside four years entailed all stakeholders working together with unity of purpose, clarity and determination.
“We need to be a team and align policy recommendations with a win-win outcome,” she said.
“As mining sector, we are up to the task.”
Ms Nerwande said an increase in production translated to improved returns on investments and other spin-offs for communities within which the mines operated.
She said there was need to increase production in the mining sector if the target was to be achieved.
“We have a shared vision with Government and we are on this journey together,” said Ms Nerwande. “A lot of activities have been taking place behind the scenes. We have been having strategic reviews mineral by mineral to ascertain how we can realise this vision.
“We need to make sure we move in tandem with the growth. For the mining sector to meaningfully contribute to the overall growth of the economy and achieve US$12 billion by 2023, we need to deliberate on key issues.
“We need to speedily conclude the development of a consolidated fiscal regime for the ease of doing business.”
Ms Nerwande said there was need to address power challenges considering that mines operated day in and day out.
“This means power must be available at all times,” she said.
“The intermittent power outages cause loss in production and output, which lowers turnover. The President mentioned that we must adopt a new culture of ‘we’ feeling and remove ‘us’ and ‘them’. How do we rearrange ourselves to remain in business and relevant to our operations, but above all achieve vision US$12 billion by 2023?
“We need to build and maintain sustainable relationships based on mutual trust for the growth of the mining sector.
“As Chamber of Mines of Zimbabwe we are happy to say despite heavy challenges the industry has been experiencing in the first six months of the year, we have been engaging in fruitful and meaningful dialogue on all our issues.”
Ms Nerwande said some of the issues have since been addressed, while others were work in progress. The US$12 billion represents a 344 percent jump in export revenues from the US$2,7 billion achieved as at December 31, 2017.
Last year, the mining sector hauled minerals worthy US$3,2 billion.
While officially launching the US$12 billion mining roadmap on Monday, President Mnangagwa said the mining sector presented enormous growth prospects towards the speedy attainment of Zimbabwe’s vision of becoming an upper middle-income economy by 2030_The Herald