By Takudzwa Mahove
Zimbabwe’s Mines and Mining Development ministry has advised global investors looking to invest in the lucrative mineral extraction sector that Zimbabwe is the best destination to try their luck.
Speaking to the media on the sidelines of the 2022 Mining Indaba summit in Cape Town South Africa, Mines and Mining Development minister Winston Chitando said the country has an array of minerals but only a few are being actively extracted.
He indicated that a lot of opportunities are available in the mineral exploration sector for who would be investors highlighting that only a fraction of the minerals that the country possesses have so far been tapped into.
Minister Chitando also assured would-be investors that their investment will be safe as the Southern African country has one of the best mining legislations in the world.
Turning to the operating environment Minister Chitando who has previously served as Platinum miner Mimosa’s Executive Chairman and Hwange Colliery Company’s Non-Executive Chairman assured potential investors that the country has a good climate and the best human resource.
Zimbabwe’s mining sector is highly diversified. The predominant minerals include platinum, chrome, gold, coal, and diamonds. The country boasts the second-largest platinum deposit and high-grade chromium ores in the world, with approximately 2.8 billion tons of platinum group metals and 10 billion tons of chromium ore. It is also the world’s fifth-largest producer of lithium. The sector accounts for about 12 per cent of the country’s gross domestic product (GDP) and the sector is targeting a US$12 billion generating industry by 2023.