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Senior Business Reporter
GOVERNMENT has tasked Mines and Mining Development Minister Winston Chitando to expedite the reopening of Kamativi Tin Mines and the Todal-Bokai Platinum Project so that they contribute to the US$12 billion industry by 2023.
Zimbabwe is targeting a fourfold increase in revenue from minerals by 2023, under the policy document, known as the Strategic Road to the Achievement of $12 billion by 2023, which will see gold exports of US$4 billion and platinum raking in US$3 billion.
The mining sector is expected to grow by 3,4 percent in 2021, before reaching 8 percent in 2022, as the country continues to leverage its mineral resources to achieve the desired growth.
Kamativi, which is wholly owned by the Zimbabwe Mining Development Corporation (ZMDC), ceased operations in 1994 due to the depressed international prices of tin.
However, the Government now expects the defunct mine to reopen as a lithium multi-element ore body operation. Under the US$12 billion milestone, lithium is expected to contribute US$500 million by 2023.
According to Tuesday’s post cabinet briefing, Minister Chitando apprised Cabinet on the state of the tailings dump and reopening of underground operations at Kamativi.
“Cabinet noted the need to ensure that these two projects get into production as soon as possible so that they contribute to the US$12 Billion Mining Industry milestone. The Minister of Mines and Mining Development was tasked to follow up on the issues accordingly,” Information and Broadcasting Services Minister Monica Mutsvangwa said.
She said the Government also considered the need to get the Todal-Bokai Platinum Project next to Unki Mine into production as soon as possible so that it contributes to the US$12 Billion Mining Industry milestone.
The Bokai assets were taken from Anglo American Platinum, which does operate a mine in Zimbabwe, more than a decade ago and handed to Central African Mining and Exploration Co. The company was bought by Eurasian Natural Resources Co. which later became Eurasian Resources Group (ERG).
To date ERG Africa has invested more than US$100 million in exploration works and infrastructure development on the Bokai project.
Early geological studies indicate that Bokai could yield an output of up to 300 kilo tonnes per month (ktpm) with an adequate resource base to support a 20-year life of mine.
Minister Mutsvangwa also noted that the government resolved to continue the ban on the exports of raw chrome ore.
“Cabinet resolved to continue with the ban and at the same time to support all those ferrochrome producers who are expanding capacity.
“It was noted that the ban on the export of chrome ores resulted in the increase in projects to increase ferrochrome production,” she said.
Zimbabwe banned exports of raw chrome ore and of chrome concentrates from July 2022 in order to secure its ferro-chrome industry.
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