Vusumuzi Dube
Judith Phiri, Business Reporter
Zimbabwe’s mining industry is on a growth trajectory as evidenced by output growth and anticipated positive commodity market conditions, contributing to the country’s mineral revenue.
Mining has been a crucial driving force in Zimbabwe’s economy, making a significant impact by contributing 14 percent to the country’s gross domestic product (GDP) over the past few years.
It has also been a major contributor to the country’s export earnings, accounting for a staggering 75 percent of its total exports.
Contributions made by the sector were highlighted at the 27th edition of the country’s premier Mining Engineering and Transport Expo (Mine Entra) being held at the Zimbabwe Exhibition Centre (ZIEC) in Bulawayo.
Speaking at the Mine Entra Conference 2024 which was officially opened by President Mnangagwa on Thursday, Vice President Chiwenga said the three-day prestigious mining showcase was key to the advancement of the mining sector.
“Mine Entra brings together the key stakeholders in the mining, engineering and transport sectors to exhibit their capacities and deliberate on ways to advance mining in the country. The exhibition theme: “Unearthing Success: The Mining Value Chains, Innovation and Industrialisation Nexus” reflects our nation’s continued dedication of leveraging innovation and industrialisation to maximise the value of our rich mineral endowments,” he said.
He underscored that Zimbabwe’s mining sector has demonstrated remarkable resilience in the face of challenges particularly the national energy deficit and volatility of global mineral commodity prices.
The Vice President said in that regard, the industry has not only survived but thrived contributing significantly to the country’s GDP at around 14 percent.
He said mining in Zimbabwe was indeed a major source of foreign currency, employment and overall economic growth.
“The success we have so far registered as a country is no accident it is a result of sound strategic policy decisions by President Mnangagwa including engagement and re-engagement as well as robust partnerships between our Government and industry,” he added.
“We are grateful for the tireless work of all stakeholders involved in the mining sector. As Government our thrust is to make the mining industry remain competitive at the global stage. We are all aware that under the able leadership and guidance of President Mnangagwa the mining sector serves as a catalyst for industrialisation thereby creating positive ripple effects throughout the economy.”
Vice President Chiwenga said mining and other allied industries were capital intensive which requires significant capital injection and as the Government under the wise leadership of President Mnangagwa continues to ensure that investment in the sector is on a win-win basis.
He said the success of the mining industry will only be unearthed through collaboration, partnerships and a shared vision.
Minister of State for Provincial Affairs and Devolution for Bulawayo Metropolitan Province, Judith Ncube said the mining sector has played a pivotal role in driving economy growth, creating employment opportunities and contributing to the national development.
She said Bulawayo had a proximity to most mineral areas which could be tapped into to diversify its economy and create employment for its residents.
Minister Ncube added: “The mining sector can help reduce poverty and is instrumental for Bulawayo’s GDP as well as that of the country. Mine Entra serves as a platform for dialogue within the mining industry so that the sector remains competitive, sustainable and beneficial to all.”
Online Reporter