Chronicle EditorNqobile Bhebhe, Senior Business Reporter
THE mining sector’s exports of value-added minerals reached US$5.34 billion in 2024, surpassing the initial target of US$4.0 billion and despite global commodity price challenges, the sector experienced modest growth of 2.3 percent and avoided major disruptions such as mine closures.
According to the 2024 Performance Evaluation Results for senior public sector officials, summarized in a report on the Ministry of Mines and Mining Development, a total of 32 metric tonnes (MT) of gold were delivered to the Fidelity Gold Refinery (FGR), a wholly owned subsidiary of the Mutapa Investment Fund.
“Exports of value-added minerals increased to USD 5.34 billion against a target of USD 4.0 billion. 32 MT of gold were delivered,” reads part of the report.
The report also noted that new high-impact mining projects were recorded during the period under review.
“Although international commodity prices were depressed, Zimbabwe’s mining sector still managed to grow by a modest 2.3 percent and, unlike others in the region, avoided significant disruptions like mine closures.
“Despite this, new investments in the mining sector were recorded, with the most notable being the Palm River Mining Project.”
In February, President Mnangagwa commissioned the USD 3.6 billion Palm River Energy Metallurgical Special Economic Zone project in Beitbridge.
Online Reporter