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Lovemore Zigara, Midlands Correspondent
TREASURY should set aside money for exploration programmes in the 2016 national budget to unlock increased investment and mineral output, Mines and Mining Development Minister, Walter Chidhakwa has said.
While the government has already approved the transformation of the Minerals Marketing Corporation of Zimbabwe (MMCZ) into an exploration company, the Minerals Exploration Promotion Corporation (MEPC), the minister said more funding was required to operationalise the new entity.
Finance and Economic Development Minister, Patrick Chinamasa, is expected to present the national budget later this month.
“We would want to have resources that would enable us to push our exploration programmes because exploration is key to the recovery and growth of the mining sector. Extensive mining exploration will provide the state with valuable information to attract and incentivise both local and foreign investors because the state will have details of the mineral type and quantum of each mineral found in the country,” said Minister Chidhakwa.
He also implored Treasury to avail funding for the resuscitation of ailing mines under the Zimbabwe Mining Development Corporation and deployment of skilled mining staff to administrative districts.
“We need resources to resuscitate ailing mines, which need fresh capital injection. We need resources to ensure our staff are as close to the people as possible, meaning that we want to devolve from the administrative provinces to the administrative districts so that at each district we have mining experts,” he said.
The government has been on a crusade to court investors to rejuvenate some of the country’s strategic mines. Kamativi Tin Mine has already found a Chinese investor who will inject an initial $102 million, which will culminate in the resumption of operations.
A Russian investor has also expressed interest in taking over Shabanie and Mashava Mines.
Online Reporter