‘Mining sector critical in country’s development’

By ZBC Reporter

President Mnangagwa says the mining sector remains a critical player in the country’s socio-economic development as it contributes more than  60% of export and employs over 45 000 formal employees.

He was speaking during the commissioning of Eureka Gold Mine in Guruve this Thursday afternoon.

As you are aware,the mining sector remains a critical player in the country’s socio-economic development .It contributes more than 60 percent of export revenue,employs more than 4500 formal employees and attracts significant foreign direct inflows into the country,over and above many other broad-based empowerment initiatives,he said.

He also  commended Eureka Gold Mine for investing USD50 million into the project out of a targeted outlay of USD60 million which has seen the extensive repair and upgrading of its Gold Processing Plant.

I therefore, commend Eureka Gold Mine for investing US49.11 million into the project out of the targeted outlay of US60 million,which has seen the extensive repair and upgrading of its Gold Processing Plant .This is in sync with the National Development Strategy one,particularly on mineral beneficiation and value addition as well as the creation of value chains to anchor the national industialisation policy,he added.

The President expressed  government’s   readiness to welcome more investments in the mining sector to explore opportunities availed by the country’s rich gold, platinum, diamond, coal and lithium deposits and other minerals.

The Commissioning of Eureka Mine has breathed new life to the Guruve economy through unlocking employment opportunities and various downstream benefits for the community.

After lying idle since the year 2000, Eureka Mine has risen from the ashes to become the largest employer in the small town of Guruve by employing 220 locals and 380 other people.

Victoria Falls exchange (VFX) listed company Padenga which operates Eureka Mine through its subsidiary Dallaglio believes it made the right decision to diversify into gold mining after government dangled incentives for VFX-listed companies.

As an investor and representing shareholder, Padenga we believe this is a good investment and we believe we made the right decision,said the company representative.

Optimism is high the mine which began operating in July and produced 92 kilogrammes of gold in September will attain the targeted 140 kilogrammes per month, thereby consolidating provincial and national economic gains.

Meanwhile President Mnangagwa has urged parents to inculcate the spirit of patriotism among children as is done by a proud nation.

He said this while addressing thousands of supporters in Guruve.

He also expressed gratitude to the nation for heeding the call to get vaccinated against Covid-19

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