Economic Updates - Featured - Mining - December 9, 2020

Gvt unveils more initiatives towards the attainment of a 12 billion Mining Industry

Government through the Ministry of Mines and Mining Development has unveiled more initiatives towards the achievement of a US$12 billion Mining Industry by 2023 the Business Mail can report.

Late last year President Emmerson Mnangagwa and the Minister of Mines and Mining Development Hon Winston Chitando officially launched 12 Billion-dollar revenue by 2023.

Addressing the media during the 44th post-cabinet briefing, Minister of Information and Broadcasting Services Hon Monica Mutsvangwa said the sector is expected to generate US$3.5 billion by end of this year.

“The initiative includes plans to fast track exploration, evaluation and digitalization of selected reserved areas under the Ministry of Mines and Mining Development as well as other high-level targets.

“Plans to stop issuance of special grants in the reserved areas under the Ministry of Mines and Mining Development until the exploration and evaluation are completed and value addition program for diamonds.

“The issuance and renewal of special grants for energy should be based on the following considerations, amongst others: – (a) for coal the- financial and technical capacity to value add all the types of coal in the respective areas and for coal, the ideal exploration of – (b) for Coal Bed Methane (CBM) – the ideal exploration of Coal Bed Methane (CBM);  and (c) for renewal of Special Grants – consideration should take into account the period the Special Grant has been held as well as plans with milestones for value addition of the Special Grant”, unpacked Mutsvangwa.

Mines and Mining Development Minister, Engineer Winston Chitando expressed confidence in the ability of the sector to meet the set targets.

“The country is well on course towards achieving the 12 billion dollars mining target by 2023,” said the minister.

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