adminAfrica Moyo and Margaret Rumhungwe
GOVERNMENT is courting foreign investors to reopen closed mines in an effort to ensure the country increases revenue from its mineral resources, a senior State officail has said. The development follows reports that Kamativi Mine, which stopped operations in 1994, has identified a South African investor to resuscitate operations as international prices of tin skyrocket.
Mines and Mining Development Deputy Minister Engineer Fred Moyo told The Sunday Mail that restoring mothballed mining operations was at the top of Government’s to-do list.
“Concerted effort is ongoing (to reopen the mines). It is a challenge of investment and capital… it naturally takes long, but in this case people (employees and the community) are affected so there is pressure. But the ministry is pushing hard,” he said, adding that, investor interest in the projects “is reasonable”.
Last month, Government tasked the new Zimbabwe Mining Development Corporation board to prioritise reopening of moribund mines. Responding to questions in Parliament recently, Mines and Mining Development Minister Walter Chidhakwa said there was enough good grade ore at several such mines to warrant reinvestment.
A number of mines have closed in the last 15 years due to viability challenges induced by a poorly performing economy hit hard by an illegal Western sanctions regime. Plans have been on the cards to restart critical operations such as Sabi Gold Mine (Zvishavane), Elvington Mine (Chegutu), Kamativi Mine (Dete), Copper Queen Mine (Midlands) and Mhangura (Mashonaland West), but funding problems are stalling the process.
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