, pub-3787448768440954, DIRECT, f08c47fec0942fa0 [google-translator]

Platinum sub-sectors to contribute US$12 billion to mining economy

By Business Reporter – Thursday 4 November 2021

HARARE (Mining Index) – PRESIDENT Emmerson Mnangagwa said the platinum sub-sector is set to contribute massively towards he envisaged US$12 billion mining economy by 2023.

Speaking in Mhondoro last week at the signing of a US$1,4 billion Memorandum of Agreement between government and Zimplats, the President said given the country’s advantage in mineral wealth, exploration of platinum sub-sectors is going to contribute significantly to the US$12 billion economy.

“Zimbabwe is endowed with a variety of mineral resources, these include the Platinum Group Metals (PGMs),” he  said.

In addition the President said the country also has potential in oil and gas.

“We are also excited by the potential in oil, gas and rare earth elements occurrences. It is therefore, pleasing that the platinum mining sub-sector has a number of developments taking place, including extensive exploration, opening up of new mines, as well as expansion of existing projects.

“These will see the platinum sub-sectors contributing about US$3 billion towards the target of a US$12 billion mining sector by 2023. This is in line with my government’s efforts to ensure the existence of an enabling environment that support the growth of the mining sector,” he said.

Further speaking on the Zimplats US$2,4 billion investment, the President said this will bolster the country in becoming energy self-sufficiency and also attain Sustainable Development Goal number 7, “around on the diversification of the energy and power mix. The net effect of these multifaceted program will undoubtedly improve the standard of living for the people and create massive employment opportunities.” ENDS//

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