growth this year, global growth consultants Frost and Sullivan has said.
The consulting company said key contributors to such incremental growth after a decade of decline included an increase in production output of the country’s platinum, diamond, coal and ferrochrome industries.
Official statistics from the Chamber of Mines show that platinum production rose 26 percent to 8,6 tonnes last year, while gold output rose to 9,6 tonnes, up from 4,9 tonnes a year earlier. During the same period, the country produced 154 336 tonnes of high carbon ferrochrome from 72 223 tonnes. Coal production jumped 60 percent to 2,66 million tonnes during the period, while nickel output rose to 6 133 tonnes in 2010 from 4 858 tonnes in the prior year. F&S contends that the minerals sector will further accelerate by 44 percent this year in view of indicated expansion programmes at several of the country’s mines.
Frost and Sullivan automation and electronics industry analyst Mr James Maposa said the firm anticipated improved investor confidence in the country’s mining industry on the basis of indicated production capacity growth. “To maintain the upward trend, mining companies with operations in Zimbabwe will call on investors to support this growth by recapitalising their current operations,” noted Mr Maposa.
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