Online Reporter
Online Reporter
ZIMBABWE has been challenged to intensify mineral exploration and continuously refine its investment framework to unlock the country’s immense geological potential and secure the future of one of its most strategic economic sectors.
The call came yesterday from exploration expert Mr Allan Dolan during the inaugural Mining Exploration Symposium held at the Zimbabwe International Trade Fair.
The landmark event was officially opened by Vice President Dr Constantino Chiwenga.
The symposium, attended by senior Government officials, mining executives, investors and exploration specialists, placed exploration at the centre of Zimbabwe’s mining growth agenda as the country seeks to increase mineral production and attract fresh investment.
In his address to delegates, Mr Dolan said no mining industry could remain sustainable without continuously discovering new mineral deposits to replace exhausted resources.
Junior exploration companies, he said, were now responsible for nearly 90 percent of all new mineral discoveries globally, making them indispensable partners in the development of future mines.
“Junior exploration companies are, by an order of magnitude, the most successful funding structure for exploration,” he said.
Using the discovery of Sierra Leone’s Tonkolili iron ore mine as an example, he emphasised how successful exploration can transform economies by attracting huge investments, creating employment and generating wealth over several decades.
Zimbabwe, he added, possessed outstanding geological potential but would need to remain globally competitive in attracting exploration finance, particularly as international investors increasingly compare mining jurisdictions before committing capital.
In addition to recommending an independent review benchmarking Zimbabwe’s mining policies and fiscal framework against leading mining destinations to identify areas where competitiveness could be enhanced, he also challenged stakeholders to interrogate why the country, despite its rich mineral endowment and long mining history, had produced relatively few major mineral discoveries over the past two decades and had not yet developed internationally recognised Tier One,
Tier Two or Tier Three gold mines.
He said exploration should be viewed not merely as a precursor to mining but as a strategic national investment capable of underpinning future industrialisation, exports, employment creation and economic growth.
The successful hosting of the inaugural Mining Exploration Symposium represents another milestone in Zimbabwe’s efforts to position itself as a premier destination for mineral investment while fostering dialogue between Government, investors and technical experts on the future of exploration.
