Youth miners called on to tap into vast Masvingo mining sector investment opportunities

MASVINGO Provincial Mining Director, Mr Marshal Muzira has called on youth miners to tap into the province’s vast mining sector investment opportunities, positively contributing to a target of US$40 billion mining industry by 2030.

Zimbabwe boasts of highly diversified over 40 different extractable minerals, including platinum group metals (PGM), gold, lithium and chrome among others.

Speaking at the Young Miners Foundation (YMF) @ 16: Great Stone Summit at the Chakas Lodges and Resort in Nyika, Masvingo on Saturday, Mr Muzira said the province had highly unique mineral occurrences of significant economic importance.

“Masvingo Province is 56 566 square kilometres (km²) in size, that is 14.5 percent of the country and made up of seven districts namely Zaka, Masvingo, Bikita, Chivi, Mwenezi, Chiredzi and Gutu.

“The province boasts of highly unique mineral occurrences of significant economic importance such as lithium, tantalite, emerald, fold, diamond, coal, asbestos, alexandrite and semi-precious minerals (amethyst, corundum and garnets),” he said.

“It also hosts various industrial minerals such as limestone, clays, silica and granites of various qualities for the construction industry.”

From left: Young Miners Foundation (YMF) member Mr Polite Chirongoma, YMF CEO Mr Payne Kupfuwa and Masvingo Provincial Mining Director, Mr Marshal Muzira

He said pegmatite fields in Bikita have potential for discovery of more lithium and tantalite deposits, while there was potential for huge coal deposits in southern part of the country in Chiredzi.

Mr Muzira said there was also favourable conditions for diamonds in the province, for example with Rio Zim evaluating Sese deposit.

“The Province is host to eight known kimberlite clusters of Mbizi Cluster, Devuli, Mkwasine, Chingwizi, Triangle Cluster, Mwenezi Cluster, Bubye Cluster and Sese Cluster.

“There is investment opportunities along the value chain. The country is still under-explored and there is huge potential for new discoveries, particularly using the modern exploration techniques,” he added.

“Investors may venture into exploration as private companies or through partnerships with Government entities such as the Mining Promotion Corporation (MPC). The Corporation has several exploration project proposals that are open for consideration by potential investors.”

He said opportunities related to mining include opening of new mines, resuscitation of closed mines and forming joint ventures with mines that are operating below capacity.

Mr Muzira said most mines are using antiquated machinery and require retooling to increase efficiency and productivity.

“Capitalisation of these mines provides great opportunities to potential investors. Value addition and beneficiation of lithium opens vast opportunities in setting up plants for production of lithium carbonate and lithium hydroxide as well as to enter the battery manufacturing industry,” he said.

“Chromite, iron, lithium, gold and coal which are abundant in this country provide vast investment opportunities in steel manufacturing and downstream engineering products. Hydrocarbons (coal and CBM) offer huge investment opportunities in power generation, petrochemicals industry and fertiliser manufacturing.”

He said other opportunities relate to cross linkages of mineral value chains to the entire economy including support services such as supplies of mining equipment and consumables, financial services, management and technical consultancy services.

Mr Muzira said the transporting, distribution and marketing of mineral related products further creates opportunities in the mining industry in Zimbabwe.

Bikita West Member of Parliament (MP), Daniel Nhatiso Makusha who is also a member of the Parliamentary Portfolio Committee on Mines and Mining Development, called on youth miners commended youth for taking up mining to fight, resist and reject drug and substance abuse.

“We support the initiatives you are doing in mining and we understand start capital is one of the hindrances affecting you. With Government reserving the small-scale gold mining sector exclusively for Zimbabwean citizens and wholly Zimbabwean-owned entities, we are lobbying for youth in mining to be capacitated so that they can advance their production,” he said.

YMF chief executive officer (CEO), Mr Payne Kupfuwa called on young miners to formalise and professionalise their small scale mining enterprises to ensure that they grow from small to medium if not large scale.