TINASHE MAKICHI IN BULAWAYO
The country’s major minerals posted positive growth figures in the eight months to August 2018, but however there are reservations that the year-end output projections remains threatened by negative factors currently obtaining in the economy.
Diamonds during the eight months under review diamonds grew by 22 percent to 2,2 million carats from 1,8 million carats. Lithium grew 45 percent to around 49 000 tonne from 34 000 tonnes and granite was up 46 percent, with coal up four percent to 2,4 million tonnes from 2,3 million tonnes.
Platinum Group Metals (PGMs) recorded marginal increases by approximately one percent while gold deliveries to Fidelity Printers and Refiners as at September 2018 were at 28,2 tonnes, compared to 18,2 tonnes of the same period last year.
“Our miners have been posting positive trend performance so far this year. In the eight months to August in 2018, majority of our key minerals posted significant output growth led by diamonds which grew by 22 percent to 2,2 million carats from 1,8 million carats so far.
“While the performance of the sector is predominantly encouraging, the output for the full year remains under threat from the challenges of foreign currency and capitalisation currently obtaining in the country,” said Chamber of Mines Zimbabwe chief executive Isaac Kwesu while addressing the Mine Entra 2018 mining conference Thursday.
He said there was an urgent need for government to implement fiscal measures recently announced under the Transitional Stabilisation Programme, spanning over October 2018 to December 2020, which prioritises fiscal consolidation, economic stabilisation, and stimulation of growth and creation of employment.
