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In an interview, the Zimbabwe Miners’ Federation (ZMF) president Mr Trynos Nkomo said interest to venture into diamond and copper exploration had been generated by the Government’s Indigenisation and Economic Empowerment programme.
“So far, we have a group of five Zimbabweans based in the Diaspora who have shown interest in venturing into exploration and drilling of diamonds in Beitbridge, copper in Plumtree and Tsholotsho.
“Two of the five investors are interested in undertaking a massive evaluation and exploration of copper in Tsholotsho and Plumtree while the other three are looking forward to explore kimberlitic diamonds in Beitbridge,” he said.
Mr Nkomo said the penetration of investors into the small-scale mining industry into diamond and copper projects would develop the sector to a medium scale industry.
“Progressively, we will see the small-scale mining sector growing to a medium-scale industry,” he said, adding that operations by the miners would go a long way in improving Zimbabwe’s revenue base.
He said the investors were not only targeting exploring diamonds and copper in Beitbridge, Plumtree and Tsholotsho but also in other parts of the country.
He said small-scale miners had also shown interest to venture into coal mining in Matabeleland North province.
He called on banks to play a supportive role by availing funding for the small-scale mining sector.
“The local banking industry should be supportive of the needs of the small-scale mining sector to consolidate its growth and development,” said Mr Nkomo.
Following the adoption of a multi-currency system, the mining industry has become one of the leading economic enablers with an average annual growth rate of more than 30 percent.
Between 2009 and 2011, mineral exports increased by 230 percent while last year mineral exports accounted for 47 percent of total exports, led by platinum, gold and diamonds.
Online Reporter