$100m for youths in mining

By Own Correspondent

President Emmerson Mnangagwa’s administration has set aside $100 million to help capacitate youths in the mining sector.

This was revealed by Zanu PF Secretary for Youth Affairs, Pupurai Togarepi, while addressing a Regional Youth Convention in Matabeleland North Province recently.

Togarepi said the $100 million facility would be accessed through the Empower Bank. He urged youths to submit their business proposals to the bank in order to access funding for their projects.

The revival of the mining sector is a major priority for President Mnangagwa as this has seen him spearheading the US$4.2 billion Karo Recourses Platinum Mining investment, reopen Eureka Gold mine, signed a US$1 billion Zimasco Investment Framework for the expansion of its chrome/ferrochrome mining activities and the development of its coal Bed Methane gas project, among other ventures.

Earlier this year, President Mnangagwa’s Government also revived efforts to acquire US$100 million worth of equipment from Chinese mining equipment manufacturer XCMG Group for use by artisanal miners.

The equipment is aimed at building capacity of small-scale gold miners to increase gold output from the sector, which contributed 53 percent of the total output last year.

About US$5 million worth of equipment from the facility arranged by XCMG with China Development Bank was handed over to some of the miners in April 2017.

The Zanu PF Regional Youth Convention, which was organized by the party’s National Youth League, was attended by over 3000 members drawn from the region.