Staff Reporter
Zimbabwe’s mining sector has exceeded US$20 billion in cumulative mineral exports in the last six years as the extractive industry continue to anchor the country’s economic growth, President Emmerson Mnangagwa has said.
In a speech to commission Sabi Star Mine Lithium Flotation Plant in Buhera North, this Thursday, President Mnangagwa said Zimbabwe was on track to achieve its US$12 billion mining sector target by year end.
“Our presence here today, reflects the unflinching focus by my Government on accelerating our country’s economic prosperity through mineral value addition and beneficiation following the resounding Zanu PF victory in the Harmonised General Elections.”
President Mnangagwa said the mining sector remains critical in the realization of the national Vision 2030 through employment creation, GDP growth and foreign currency generation.
“The vast array of strategic mineral resource endowments, coupled with increased capacity utilization and stable national energy supply, among other factors will undoubtedly see sustained growth of the sector,” he added.
The Government’s ambitious annual US$12 billion mining economy plan was mooted in 2019 as a key pillar to sustainable economic growth.
To reap more financial rewards from exports, The Government has taken a firm stance on value addition and beneficiation of mineral exports which has seen mining authorities imposing a blanket ban on raw lithium exports.
As such, lithium mining firms have begun setting up lithium processing plants in the country with Sabi and Prospect Resources in Goromonzi setting up its own Lithium processing plant.
“The growing demand for lithium and the presence of our own processing facilities reduces exports of unprocessed minerals and positions Zimbabwe as a key player in the lithium markets.
“The benefits of the value addition of our God given natural resources must be shared by all miners, communities and the nation as a whole. Particularly, the host community surrounding this plant must benefit from increased jobs and empowerment opportunities for improved livelihoods and the standard of living,” he further added.
In addition to that, President Mnangagwa exhorted Sabi Star to develop infrastructure for Buhera North especially Wards 11 and 12 where the lithium project is located.
“The establishment of the plant should also stimulate the development of infrastructure and the enhancement of services in this area.
“I call upon the community, including traditional leaders and workers to continuously support the success of this project,” he added.
The group’s Board Chairman, Mr Zhou Yi also took the opportunity to thank Government for the opportunity to invest in the mining sector and assured to continue building strategic partnerships with the locals in order to ensure that Government achieves vision 2030.
