Online Reporter
Sikhulekelani Moyo
Zimpapers Business Hub
ZVISHAVANE-BASED platinum mining firm, Mimosa Mining Company, has partnered local banks in raising about US$15 million, which has been set aside to help in Local Enterprise Development (LED), a move that is meant to capacitate local suppliers.
Mining institutions are being urged to have local enterprise development programmes where they support local manufacturers who then supply the mining sector with consumables, ranging from Personal Protective Equipment (PPE), machinery, chemicals, among other items.
This initiative will help to improve local manufacturing capacity, empowering communities and creating employment.
In his presentation during the recently ended Mine Entra, Mimosa Mine’s Head of Finance and Administration, Mr Edmore Tafirenyika, said there had been a lot of intentional movements towards growing the local industry.
He said in the mining sector, there were a lot of locally produced products that they had adopted.
However, he expressed concern over the capacity and quality of products from some suppliers, saying that this had seen them rely a lot on imported mining consumables for them to be able to continue running mining entities.
“There have been a few strides that we have made in the mining sector in trying to promote local competency. And most importantly, issues around Local Enterprise Development (LED) have been key,” said Mr Tafirenyika.
“Looking at LED, at Mimosa alone, we have partnered with our banks. I’m happy they are here, CBZ, where they have assisted us with a revolving fund.
“Then they have given us another US$5 million, and we have two other banks that have given us another US$5 million each to make it US$15 million, which has been set aside not only to assist with our LED programmes, but also to assist with supplier support from our side.”
