LIVINGSTONE MARUFU
Zimbabwe is optimistic that new projects will help the country to meet its US$12bn mining industry target this year following the start of operations in various areas.
The mining sector earned an estimated US$6bn last year and with more projects lined up the target is within range of miners, Mines and Mining Development minister Winston Chitando told Business Times.
He said while proper appraisal of the US$12bn will be done early this year, four projects have potential to contribute about half to the mining sector’s target.
“The projects are many but I will single out four which are Arcadia Lithium Mine, Sabi Star Mine, Bikita expansion and the Manize Steel project.
“These four projects on their own and their impact on the US$12bn will have a minimum of US$5.5bn,” Chitando said.
He said some of the projects commissioned in 2022 did not contribute fully to the full year in terms of their potential or their full capacity and are projected to contribute meaningfully this year.
The mining sector is the largest foreign currency earner, accounting to about 70% of the total receipts.
