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LocalNews

Mthuli supportive of 12 billion mining dream

By Business Reporter – Monday 16 December 2019

HARARE (Mining Index) – FINANCE and Economic Development minister, Professor Mthuli Ncube says he fully supports the vision to achieve a US$12 billion mining sector by 2023.

Speaking at a recent mining conference, Ncube commended the blueprint.

“I am a firm believer in the USD12 billion mining dream, I can see it, I can feel it and I am impressed on what is being built, bit by bit, deal by deal, mineral by mineral we are already there,” said Ncube.

The minister urged other sectors to craft similar blueprints, as this will be helpful in mapping the recovery of the economy.

“I believe every sector should emulate the efforts shown by the ministry of mines and mining development, be it tourism, agriculture or any other. That will really help us to understand and build our economy right now rather than thinking about it all the time.

“As far as my name is concerned, I am comfortable with where the global economy is headed as it is expected to grow by 3% in 2020, so in terms of the impact of global demand and prices, we are comfortable,” said Ncube

The creation of employment is also one of the key drivers that endeared the professor to the US$12 billion plan.

“Why is the minister of finance excited by such a vision, the mining sector is expected to employ 45, 000 by 2030. The mining sector is a source of jobs and from the US$12 billion mining, we will get even more jobs. You can hear my message these days is focused on jobs jobs, jobs.

“So it’s about jobs, it’s about productivity but also the mining sector is the driver of foreign investments and the biggest driver of exports

“The mining sector’s contribution in generation of foreign currency is expected to continue ballooning. In 2009 it was at 37%, 46% in 2010, 55% in 2012, and now it is expected to boom towards 60%,” he added. ENDS//

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