Embrace partnerships, mining firms urged

Tinashe Makichi Business Reporter
MINING firms have been urged to embrace private public partnerships (PPPs) to share experiences and to utilise resources effectively towards the development of mining infrastructure in Zimbabwe, a mining consultant has said. Most mining firms in the country have been failing to reach their full production potential because the infrastructure is in dire need of upgrading.

Utho capital chief executive Ms Sheila Galloway said mining firms are lagging behind in embracing this noble initiative because mining business needs to be done collectively in order to enable development and move economies into the future. Utho Capital is a mining consulting firm operating in Zimbabwe and South Africa.

It is also the same company organising the Mining Indaba to be held in Harare later this month.

“Mining firms should create a platform that brings together both public and private sectors from across Africa to collaborate in order to share their experiences and utilise resources effectively to engage in projects and unlock major infrastructure projects,” she said.

She said the challenge for most African governments was that they lacked financial resources for infrastructure development and they needed to engage the private sector to building such infrastructure.

“Hence, through public and private sectors engagement there would be a creation of a transparent level playing field and these partnerships are also a means of attracting foreign investment to develop infrastructure projects and the governments will also be able to maintain ownership over such assets being unlocked,” she added.

“However, without the commitment of governments to ensure that the requisite institutional frameworks and guidelines are in place, PPPs will lose momentum.”

Zimbabwe has made significant progress in rebuilding its economy, despite the decrease in business confidence a decade ago and the negative international perception that has always affected the mining industry. Ms Galloway said unity and partnerships were the only way to go towards eliminating such a perception.