US$12 billion mining sector possible

Staff Reporter

Government has said the US$12 billion mining sector, buoyed by the growth of the mining sector during the Second Republic, is possible.

Speaking at a press conference yesterday, Minister of Mines and Mining Development, Winston Chitando said, “Diamonds are earmarked to contribute US$1 billion to the US$12 billion milestone by 2023 and I am glad to say that we are on course to achieve US$1 billion by next year. There is a strong growth taking place in the diamond sector.

“Zimbabwe Consolidated Diamond Company (ZCDC) is on record on production. Last year, they produced 4.1 million tonnes and this year their target is to produce over 5 million tonnes. We also have more diamonds in expansion mode. The ZCDC has a new plant which is being constructed and expected to be operational and commissioned by May this year. By the end of the year, value addition to the diamonds will be added locally. A combination of all this will make a US$12 billion in the mining sector possible.”

Minister Chitando took the opportunity to announce that Zimbabwe will be hosting the African Diamond Producers Association (ADPA) from the 6th to 8th of April in Victoria Falls. The Minister said that Zimbabwe is Vice Chair of the ADPA.

The ADPA implements policies, strategies and laws that assist the generation of diamond profits from diamond mining companies to its member states.

He further announced that a Kimberly Process team will be undertaking a review visit to Zimbabwe from 8 to 13 May this year.

Minister Chitando said that Zimbabwe was committed to maintaining the right standards of the Kimberly Process.