Mining Indaba opens today

president, Mr Winston Chitando, the mining industry requires US$5 billion to recapitalise over the next five years.
But considering most companies in the country are hard-pressed for finance to rejuvenate production, fresh capital investment would help increase mineral output.

Spokesperson for this year’s event Mr Forbes Zaranyika recently said deliberations would have a regional focus.
“This year’s edition has a regional outlook and focuses on dialogue as a way to unlock and boost foreign investment into the mining sector,” said Mr Zaranyika.
Organisers of the Indaba, Utho Capital, said the main objective was to portray Zimbabwe’s potential as a powerhouse in mining and an infrastructure hub in the region.
This year’s event would bring together policymakers, players from the mining sector, construction industry, development finance institutions, private equity players, banks, consulting houses and infrastructure specialists, among other important stakeholders.

The seminar comes amid overwhelming interest from external investors to explore a range of opportunities in the more than 40 different mineral occurrences in the country.

Zimbabwe presents investment opportunities in such lucrative minerals as platinum, gold, diamonds, coal, nickel, chrome, emeralds and granite among others.
But over the last four years cash-rich foreign investors have watched from a distance, citing policy uncertainties and scepticism over implementation of the Government’s indigenisation and empowerment programme.

Discussions will this year cover the new mining strategy, diamond policy and the amended Mining Act.
There would also be discussion on efforts to solve the power crisis, building new or rehabilitating poor infrastructure. Regional integration, co-operation and finance will also come under the spotlight.

Mining is key to Zimbabwe’s economic growth, contributing over 50 percent of its foreign currency inflows and about 12 percent to the Gross Domestic Product.
Mining industry experts and Government ministers and officials have been lined up to present papers at the event. Local speakers include Mines and Mining Development Minister Obert Mpofu, Mr Chitando and Mines and Mining Development secretary Mr Prince Mupazvirihwo.

Other high-profile speakers from foreign mining experts from chambers of mines of Ghana, Botswana, DRC and Zambia will be Dr Tony Aubynn, Mr Charles Siwawa, Mr Thiery Kankwala and Mr Frederick Bantubotse.
AfrAsia director Mr Nigel Chanakira, Merlin Trade and Consultancy chairman Mr Gerard McCloskey, IDBZ infrastructure acting director Mr Alex Machimbirike and KPMG partner Mr Klaus Findt will also attend.

Other notable speakers include Lontoh Coal founding president Mr Tsepo Kgadima, BancABC chief risk officer Dr Blessing Mudavanhu and Liberation Mining technical services director Engineer Peter Mutsinya.