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Wallace Ruzvidzo Herald Reporter
Zimbabwe is well on course to achieving its target of producing 40 tonnes of gold by the end of the year, Mines and Mining Development Minister Winston Chitando said yesterday.
In addition, following the attainment of the US$12 billion mining sector this year, President Mnangagwa will soon announce new targets for the sector’s next five years.
Speaking after a meeting with his Algerian counterpart Mr Mahomed Arkab, who is in the country, Minister Chitando said Zimbabwe would most assuredly produce at least 40 tonnes of gold as projected.
As relations and cooperation between Zimbabwe and Algeria continue to grow, Algeria would be a strategic partner in the realisation of Zimbabwe’s next five years’ mining targets especially after the discovery of oil and gas reserves.
Zimbabwe’s mining sector, he said, was on an exponential growth trajectory, as the sector had grown by 340 percent since the coming in of the Second Republic.
“We knew the target of 40 tonnes. We know that it will not be evenly produced across the 12 months. We are looking at a target of 40 tonnes and all I can say is we will achieve the target.
“As you may be aware if you look at the production trends generally, the year starts slow because of the rainy season and various other factors then it starts picking up. So if you look at a certain number then you say we wont get it that’s not the case. We are looking at 40 tonnes and we will get the 40 tonnes.”
“His Excellency will soon unveil another growth target for the next five years and we do have the minerals. What has enabled the increase in 5 years is the combination of skill and capital so the next five year period will also require capital and skills and we look forward to getting some of that from Algeria,” he said.
“As you may know, Zimbabwe is on a very strong growth trajectory as far as its mining industry is concerned from a base of US$2,7 billion in 2017 and US$12 billion target at the end of 2023 which is a 340 percent increase.”
Minister Chitando said collaboration with Algeria would go a long way as that country had a comprehensive skill set and experience in regard to hydrocarbons.
“One of the new kids on the block is oil and gas. We wish to develop our hydrocarbons and again that will require skill and capital, us cooperating with Algeria which has very strong skills and experience in the hydrocarbon sector can only enhance our road of progress of attaining our next five year target, but more importantly attaining upper middle economic status by 2030 which is based on rapid economic growth.
“They have competent services in terms of their laboratories and other mining infrastructure so obviously these are areas where we would want to learn from Algeria and also see how they can participate in the growth of our mining sector,” he said.
“Algeria is a very big economy and they are very significant steel producer, with over 10 million tonnes of steel, plus phosphates and they are a gold producer.”
“I am very happy to receive my colleague the Ministry of Mines and Energy to explore ways in which the two countries can cooperate and enhance closer economic cooperation.”
Minister Arkab said Algeria was committed to assisting in the realisation of Zimbabwe’s economic growth targets.
“We discussed several topics of cooperation, we talked about Algeria’s experience in the mining field and we should establish a roadmap in order to achieve our goals and transfer skills and building capacity from Algeria to Zimbabwe,” he said.
Online Reporter