Chronicle Editor
Prince Sunduzani, Business Reporter
THE Zimbabwe Miners’ Federation (ZMF) says it will lobby the Government to release the $50 million loan meant to facilitate the revival of Bulawayo companies that manufacture mining equipment.
The loan fund, which was launched in Bulawayo last year during the Zimbabwe International Trade Fair (ZITF), was sourced from Sakunda Energy by Government to capacitate companies that manufacture mining equipment.
Government said it wanted mining companies to source their equipment locally instead of importing as this will assist in creating jobs.
Speaking during a small-scale miners and suppliers symposium in Bulawayo last Friday, ZMF vice president Mr Ishmael Kaguru whose organisation represents the interests of small-scale miners said:
“The $50 million loan facility which was launched at ZITF last year, was meant to facilitate the manufacture of mining equipment by Bulawayo companies.
These companies are yet to receive the funds hence we are calling on the Government to release the money,” he said.
Mr Kaguru said small-scale miners’ potential to increase gold production was largely affected by lack of mining equipment.
The small-scale mining sector last year produced 13.2 tonnes of the 24.8 tonnes of gold.
Riding on the back of continued support from the Government, small-scale miners are this year targeting to improve output of the yellow metal to 18 tonnes.
Due to lack of basic mining equipment such as compressors, jack hammers and other such equipment, small-scale miners are yet to reach their full potential.
ZMF has set up a committee to oversee the mining equipment needs of its members. — @PrinceNkosy102
Online Reporter