Chronicle Editor
GOVERNMENT which has over the years encouraged companies to invest in value-addition and beneficiation to enable the country to derive maximum benefits from its natural resources such as minerals, says it is working on additional incentives to be enjoyed by companies that respond positively to the calls to produce finished products.
Addressing exhibitors and guests at the 2024 Mining, Engineering and Transport (Mine Entra) Expo last Thursday, President Mnangagwa said companies that invest in beneficiation and value-addition will enjoy additional incentives to be granted by Government.
He said Government recognises the importance of value-addition and beneficiation in accelerating its modernisation and industrialisation programme hence it is offering incentives to those companies that invest in value addition.
President Mnangagwa said Government was committed to facilitating robust modernisation and industrialisation of the economy and as such was urging companies to invest in value-addition and beneficiation as opposed to exporting raw materials.
He said exporting cheap raw materials should come to an end as the country needs to derive maximum benefits from its natural resources such as minerals.
“Additional incentives and support will be provided to companies that invest in value-addition and beneficiation,” said President Mnangagwa.
He said the thrust towards value addition-driven mining sector transformation should be anchored on technological advancements and aligned to the global shift towards renewable energy sources.
President Mnangagwa said minerals such as gold, platinum and lithium play a key role in modern industries including the production of smartphones, electric vehicles and renewable energy systems.
Zimbabwe is among the leading world producers of lithium which has the potential to leapfrog its industrialisation and modernisation. The automotive industry is shifting towards electric cars that use lithium-ion batteries.
Lithium is therefore a key component in the manufacture of electric vehicle batteries and as such demand for lithium is expected to grow significantly in the coming years.
There is, therefore, a need to push harder for value addition and beneficiation of lithium and other minerals so that the country derives maximum benefits from its minerals.
The country, as already stated, cannot afford to continue exporting raw minerals to benefit Western countries. It’s time mining companies invest in the processing of minerals to enable the country to produce finished products as opposed to exporting raw minerals.
Online Reporter