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Thursday, July 18, 2024

Mining industry key to economic development

Story by Tichaona Kurewa

Kimberley Process Certification Scheme (KPCS) members have pledged support to the KPCS on the basis that the mining sector is key for the economic growth of various countries.

The Kimberley Process Inter-sessional meeting got underway in Victoria Falls this Monday, with delegates from across the globe deliberating on ways to smoothen the trade of diamonds worldwide.

The official opening of the meeting this Wednesday saw attention being drawn to the importance of the Kimberley Process Certification Scheme (KPCS) and the mining sector to economic development.

“Beyond that, the Province boasts of several minerals which are contributing to the attainment of the US$12 Billion Mining Economy target for 2025. We also take cognisance of the positive impact that mining projects in Matabeleland North have towards Vision 2030 of achieving an Upper Middle-Income Economy as envisioned by His Excellency, The President of the Republic of Zimbabwe, Cde Dr ED Mnangagwa. Ladies and Gentlemen provision of energy is the bedrock for the diamond mining sector and we are pleased to be the Province that supplies energy to the diamond sector,” said Minister of State for Matabeleland North Provincial Affairs and Devolution Honourable Richard Moyo.

“This year marks the 20th anniversary of the launch of the Kimberley Process Certification Scheme. Over the last two decades great progress has been made, not only in restoring stability in conflict areas but also in the KP’s consistent pursuit of improvement of its rules, procedures and development of guidelines for regulating the rough diamond trade,” noted World Diamond Council President, Ms Fereil Zerouki.

The Minister of Mines and Mining Development, Honourable Winston Chitando who is also the KPCS Chairperson indicated that Zimbabwe’s diamond sector is on a growth trajectory.

“We are thankful of the opportunity we have had to chair the Kimberley Process, we thank the Kimberly process family for the support you have given us. Last year we produced 4. Million carats of diamonds from 1.8 million in 2018 and this year we are targeting six million carats, many thanks to the Kimberley Process,” said Honourable Chitando.

Under the US$12 billion mining industry target, the diamond sector is set to contribute one billion United states dollars amid conviction that the objective is attainable as the sector has ramped up production in recent years.

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