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Miners head for Vic Falls AGM

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BY FREEMAN MAKOPA

THE Chamber of Mines of Zimbabwe says it will next month host its annual general meeting and exhibition in Victoria Falls.

In a statement released at the weekend, the annual mining indaba will run from June 2 to 4 under the theme: “Consolidating growth drivers for the mining industry.”

The main conference symposium will discuss a number of topics to drive growth in the mining industry, the statement said.

The event will also see special symposiums on gold and mining finance, in addition to an exhibition and golf tournament.

The mining indaba comes as the mining industry is expected to continue on a growth trajectory.

The mining industry is expected to achieve 8% growth this year, riding on the return by industries to full-scale production and high international commodity
prices.

However, this growth will hinge on the availability of support from the government in resolving issues that have been stifling the sector’s performance.

In the 2022 national budget, the Mines ministry was allocated $3 billion to implement a number of programmes aimed at assisting the sector to achieve its 2023 growth target.

Government in its 2022 budget estimates that the mining industry will reach US$12 billion by next year.

In the budget presentation, Finance minister Mthuli Ncube disclosed his intention to amend the Mines and Minerals Act in line with international best practices.

He said government plans to reopen closed mines.

About $5 million was made available for exploration.

“In support of this, the budget has a provision of $3 billion to the Ministry of Mines and Mining Development for implementation of the following programmes and activities, among others: Amendment of Mines and Minerals Act; operationalisation of the Cadastre System; mining exploration; decentralisation of operations; the opening of closed mines; hiring and capacitating mining extension officers; establishment of gold service centres; and mineral value addition and beneficiation,” Ncube
said.

A further US$10 million is to be released from special drawing rights made available by the International Monetary Fund last year to help economies recover from COVID-19.

Ncube said the US$10 million would be channelled towards supporting small-scale and artisanal miners.

Ncube added that the country would continue to leverage its mineral resources in order to achieve the desired US$12 billion mining industry by 2023.

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