US$12 billion mining industry target on track

US$12 billion mining industry target on track

By Owen Mandovha

THE Government continues to promote the mining sector as a lucrative investment option to accelerate the attainment of a US$12 billion mining sector by 2023.

The African Down Under Conference underway in Perth, Australia is a platform for African countries to pitch their case as lucrative investment destinations to lure scarce global capital.

Mines and Mining Development Minister, Honourable Winston Chitando who is attending the conference, gave an excellent account of Zimbabwe’s superiority over its peers as a safe haven for mining investments as reforms have seen a significant flow of investment in just less than three years.

“We have made huge strides over the last few years, from a base of US$2,7 billion and now we are talking of over the halfway mark. Zimbabwe has instituted reforms which have catapulted the growth of the industry,” he said.

Minister Chitando challenged prospective investors drawn from around the globe to invest in the country, adding that their investments will be in safe hands.

“The mining framework, the skills, investment climate and returns, all attest to our suitability for your capital if you want to invest in the mining industry,” said the minister.

Just a month ago, New York-listed Caledonia Mining, which is on an aggressive expansion drive in gold mining, acknowledged Zimbabwe as a unique jurisdiction in terms of skills as more investment projects continue to be rolled out in lithium, oil and gas, platinum, and coal, among others.