- October 29, 2020
- Posted in NEWS
The Zimbabwe Mining industry has managed to remain in business with sustainable, profitable and balanced production results regardless of the challenges faced in the mining sector, reported the Mining Industry Survey Report Prospects for 2021.
Speaking at the Mining Industry Survey Report, Chamber of Mines (COM) President said the mining sector has not been deteriorating in production since the advent of the COVID 19 pandemic.
“Covid 19 has been a socio-economic disaster and has also affected even the mining industry but we are happy that there has been a balanced production of minerals despite the pandemic.”
The Mining Industry Survey Report confirmed that the number of employees in the mining sector this coming year is likely to be maintained.
Adding on to the report, the survey has shown that miners are pessimistic about 2021 production for there lacks competition in the industry as well as adequate capital from financial investors.
Miners have pleaded with financial sector providers to respond accordingly in terms of capital provision.
Meanwhile, Mines and Mining Development Minister, Winston Chitando has encouraged miners to take
advantage of the high prices of minerals that are available.
Chitando added that despite the negative effects brought by covid19 there is a framework policy being put into place to ensure increased production of particular minerals.
“The pandemic has negatively affected the economy without the mining industry being spared but there are measures being taken to make sure that production in minerals is boosted!”
Regardless of the positive outcome in the mining industry, it is unfortunate that miners are still facing challenges in business.
The Mining report has shown that country risks such as Covid19, lack of investment and the scarcity of capital are likely to cause a decline in production.
Furthermore, Chitando has encouraged all investors and banks to support miners with financial provision to help in the production of minerals.
“Our industry must thrive for the benefit of all stakeholders,” added Chitando.
See the full presentation below…