admin
Bulawayo Bureau
MINING companies expect to spend up to US$500 million next year on various capital projects with executives indicating general optimism in the sector’s prospects and willingness to spend more, a new mining report shows.
The mining sector is a major contributor to the economy, accounting for 13 percent of the Gross Domestic Product, and employing over 50 000 people. The sector also generates more than 70 percent of the country’s exports.
According to the latest Mining Industry Prospects for 2025 report findings released on the sidelines of the 27th Mining, Engineering, and Transport Expo (Mine Entra) last week, mining executives are generally optimistic about spending on capital projects in 2025.
The survey commissioned by the Chamber of Mines of Zimbabwe (CoMZ) which generated insights from mining executives, showed that lithium, gold, Platinum Group Metals (PGMs) and the ferrochrome companies have made substantial investments.
“The measured index for prospects for expenditure on capital expenditure is +3,2. This means that mining executives are generally optimistic about spending on capital projects in 2025,” reads part of the report.
“About 56 percent of respondent executives indicated that they will spend more capital in 2025 compared to 2024, while 13 percent are planning to inject the same level of capital as in 2024.”
According to the report, gold capital projects have a financial outlay of US$65 million, coal sector players intend to inject US$20 million, ferrochrome sector (US$25 million), platinum firms (US$2,8 million) and lithium sector is expecting to inject US$380 000 000. Mining industry capital requirements are pegged at US$600 million.
Online Reporter