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Oliver Kazunga Business Reporter
ZIMBABWE’S nickel output in the first five months of the year increased to 3 869,5 tonnes from 3 535,8 tonnes in 2012 on the back of resumption of operations at Bindura Nickel Mine. Bindura Nickel Mine (BNC), which is the primary producer of the metal, was placed under care and maintenance in 2008 following poor nickel prices and operational challenges, among others.
BNC resumed operations at its Trojan Mine this year following the refurbishment of the surface milling, floatation, tailings and concentrate-handling facilities.
In the recently announced mid-term budget statement, Finance Minister Tendai Biti said the present nickel output was 39 percent of this year’s 10 000 tonnes projection.
“Nickel output for the first five months of 2013 was 3 869,5 tonnes, compared to 3 535,8 tonnes produced during the same period in 2012 . . . nickel output during the past four years was a by-product of platinum production,” he said.
Although BNC processing plant was producing concentrate of saleable quantity and quality, output was still low as some of the refurbishment activities were yet to be finalised.
Announcing the overall performance of the country’s mining industry, Minister Biti said developments during the first half indicate that constraints such as falling international mineral prices, against rising mineral production costs, and perennial challenges linked to long-term financing impacted negatively on mineral output.
As a result, the 2013 mining sector growth was revised downwards to 5,3 percent from the initial projection of 17,1 percent.
Following the liberalisation of the economy in 2009, the mining sector has been identified as one of the key drivers of economic recovery leading economic recovery with an average annualised growth of more than 30 percent.
Mineral exports rose by about 230 percent between 2009 and 2011 making mining the leading export sector.
By the end of 2011, mineral exports accounted for 47 percent of total exports led by platinum 43 percent, gold 28 percent and diamonds 20 percents.
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