Story by Stanley James
ZIMBABWE has reaffirmed its commitment to the beneficiation of critical mineral commodities, aligning with the global effort to increase national earnings, create jobs, empower communities, and promote sustainable development amid rising international mineral prices.
This position was highlighted on the final day of the G20 Leaders Summit in Johannesburg, South Africa, where world leaders underscored the importance of ensuring that local minerals contribute meaningfully to national development, while adopting environmentally sustainable production practices.
Leaders at the Summit noted that while milestones have been achieved through the setting up of refinery plants, most economies are not getting the true value of resources due to their raw form.
Vice President General (Retired) Dr Constantino Chiwenga told delegates that Zimbabwe, which boasts of vast minerals, is in support of the G20 critical minerals beneficiation agenda.
“The global drive towards clean energy has placed critical minerals, such as lithium, cobalt and rare earth elements at the heart of the next industrial revolution, yet the structure of trade has reduced mineral rich nations, the extraction of raw materials leaving gaping holes, while value and jobs accrue elsewhere, it is regrettable that the Global South bears the environmental and social burdens, while the Global North captures the greater value through processing and technology,” he said.
The Vice President also outlined Zimbabwe’s strategy on mineral beneficiation for sale to the International markets, mainly dominated by the G20 member countries.
“It is therefore important that we commit to transparent and equitable value chains, responsible sourcing and fair compensation to resource rich countries, promoting local beneficiation, value addition and technology sharing enables communities in developing countries to move beyond extraction and become participants in global manufacturing and innovation, in Zimbabwe we are advancing beneficiation policies of lithium and platinum to drive industrialisation, employment creation, decent work for all and enhance social protection systems,” he said.
Dr Chiwenga also used the G20 Leaders Summit to engage the global community, including multilateral financiers, to attract Foreign Direct Investment and global capital.
Engagements with the African Development Bank ( AfDB) further cemented the multilateral financiers’ commitment to work with G20 member countries in restoring global financiers’ confidence in Zimbabwe.
The G20 Leaders Summit presented Zimbabwe as an invited guest with an opportunity to further network with the global economies on development policies, inclusive growth, debt reforms and productive use of natural resources.
