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Wednesday, May 29, 2024

Government explains statutory instrument banning export of raw minerals

Story by Owen Mandovha

THE Government says the new policy of banning exports of raw and unprocessed minerals comes into effect immediately and is in line with its long-standing move of value addition in sync with Vision 2030.

In spelling out the Statutory Instrument 5 of 2023, Mines and Mining Development Minister, Honorable Winston Chitando said the policy bans with immediate effect the export of raw base metals.

“The Statutory Instrument relates to base metals instead of precious metals. Precious metals are gold and platinum group metals and including diamonds.

“Base metals are the likes of lithium, nickel, chromium, manganese, tantalite, and the like. So, all these raw minerals will have to be processed before shipment and the policy measure is with immediate effect,” he said.

Minister Chitando explained that miners for a long time have been aware of Government’s stance on value addition driven by its long-term economic vision.

“Government has for a long time been having conversations about value addition so no one here has been caught unaware. President Emmerson Mnangagwa’s vision is to industrialise the economy and we have to be serious in terms of value addition so that we fully industrialise the Zimbabwean economy,” said the minister.

The paradigm policy shift by the Second Republic is the first by any country on the continent whereas for years Africa has not benefited fully from its rich natural resource endowment, hence Government’s move demonstrates its determination to industrialise the economy in line with Vision 2030.

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