- October 28, 2020
- Posted in NEWS
Reserve Bank of Zimbabwe (RBZ) Governor Doctor John Mangudya has applauded the mining sector for their input in the stabilization of the country’s economy through the foreign currency generated from exports despite the covid 19 challenges.
By Shantel Chisango
Speaking at the Launch of the 2020 State of the Mining Industry Report, Dr. Mangudya said the sector has managed to add a 14% increase in imports compared to the same period last year.
“January to September exports grew by 14% despite the covid 19 challenges to $2.4 billion from $2.1 billion reported last year around the same time”.
“Despite covid 19 challenges production is expected to rise to its peak for the Finance Minister has promised to assist all miners with what they need to increase growth in production,” said Mangudya.
The Governor added that the mining industry is the main driver behind the increase in exports and he will do
all in his power to make sure that production continues to increase.
During the Chamber of Mines (COM) Mining Industry survey report, Mangudya said the government will
implement measures to resuscitate the growth of exports from mining.
A Mining survey report also confirmed that 90% of miners are expecting a robust increase in production while 10% are adamant that production is likely to remain the same because of lack of capital.
Adding on the success of the mining industry the COM President Elizabeth Nerwande said that despite facing challenges as a nation the mining sector did not retrench any workers.
“We are pleased to announce that as of this year there has not been any shedding of jobs in the mining industry and there has been maximum output regardless of the outbreak of Covid 19,” Nerwande said.
The event was held at Cresta Lodge today with many mining gurus in attendance. The panel consisted of Mrs. Elizabeth Nerwande, Deputy Mines Minister Hon Polite Kambamura, Governor Mangudya and Mines Minister Winston Chitando.
Notable heavyweights in the audience included Mines Parliamentary Portfolio Committee Chairperson Hon Edmond Mkaratigwa and Bindura Nickel Corp boss Mr. Batirai Manhando and many others we could not positively identify due to the mandatory wearing of Masks.
See the presentation below:-