The Chamber of Mines of Zimbabwe has revealed that the mining industry is on a recovery path rebounding by 3.4% in 2021 from a covid-19 induced contraction of -9% in 2020.
Addressing the media ahead of their annual conference to be held in Victoria Falls, from the 2nd to the 4th of June, the Chamber of Mines of Zimbabwe Chief Executive Officer Isaac Kwesu said the outlook for the mining industry is positive, buoyed by an encouraging commodity price upturn that has seen mineral prices surpassing their long term averages.
“The sector recorded export earnings in excess of US $5 billion last year, more than 85% of the national exports. The mining sector has become the centerpiece driving the economy directly as well as through indirect linkages with other key sectors.
“Most key minerals recorded growth with gold 86%, lithium 83%, diamond 51%, coal 21% , platinum 13%, and nickel 13%. It is against this background that this year’s conference will be held under the theme “Consolidation growth drivers for the mining industry “.
“The theme recognises the current growth and inherent potential of the mining industry as well as the opportunity that entails for the whole economy to align with government target Vision 2030,” he said.
The conference will be graced by President Emmerson Mnangagwa who will be the guest of honor as well as guest speaker Benjamin Mchwampaka, who is the executive secretary of Tanzania Chamber of Mines.
According to Kwesu, the outcome of the conference is expected to assist in promoting the development and growth of the mining sector in the medium to long term.
Three hundred and fifty people are expected to attend the conference to be held in the resort city of Victoria Falls.
