adminembark on consultative meetings with stakeholders across the country to gather their views in the crafting of the policy.
The crafting of the policy comes amid calls from miners for the Government to formulate a minerals policy that would counter the numerous challenges being faced in the sector.
Mining firms say their potential for growth has been affected by the unavailability of capital, cost of operations and the price of minerals.
Addressing these challenges would enable the industry to attract foreign direct investment needed for optimising production, expanding output and embarking on exploration for more minerals to fully unlock the country’s mineral wealth.
The industry, according to the Chamber of Mines, requires between US$5 and US$7 billion for recapitalising operations for optimal performance over the next five years.
Of these financial requirements, gold mining required 33 percent, platinum 40 percent, diamonds 11 percent, coal 8 percent while chrome and nickel required 4 percent apiece.
Mining companies contend that if they secured the requisite funding, there would be noted production growth. Mining is central to the economy as it contributes about 65 percent of exports and over 5 percent to the value of goods and services produced in Zimbabwe.
The crafting of the policy also comes at a time when Government is formulating the Diamond Policy and finalising the amendments to the Mines and Minerals Act.
Online Reporter