PRESIDENT Emmerson Mnangagwa says the country will maintain the current mining sector growth trajectory by ensuring investor-friendly policies as he prepares to begin his second term in office following his re-election in last week’s polls.
He made the remarks while commissioning the Chinese-owned US$130 million Max Mind Sabi Star Lithium Flotation Plant in Buhera, Manicaland Province, on Thursday.
“I express my gratitude to our international partners for their continuous faith and confidence in Zimbabwe as a conducive investment destination. This project stands as a shining example of what can be achieved when we work together towards a common goal and shared prosperity,” Mnangagwa said.
“Be assured that my government stands ready to support further growth and innovation through favourable policies that attract both national and foreign investors.
This includes maintaining the current mining sector growth trajectory by guaranteeing clear and predictable frameworks to ensure that global capital feels safe in our country.
“We are determined to propel modernisation, industrialisation and deliver the next generation of jobs through economic production and productivity, while sustainably managing our environment.”
He added that going forward, the mining sector should ultimately graduate to the production of battery-grade lithium.
“I urge mining houses to speed up the implementation of the Mining to Energy Park in Mapinga, Mashonaland West Province, which will see the construction of a lithium salt plant as well as value-addition plants to produce batteries, solar panels and other products. The nation and region are ready to consume these products,” he said.
“More so, the mining sector remains critical for the realisation of our national Vision 2030 through employment creation, GDP growth and foreign currency generation.” Since 2017, the mining sector has exceeded US$20 billion in cumulative mineral exports, according to official figures, and Mnangagwa expressed confidence that Zimbabwe was on track to achieve its US$12 billion mining economy target by year-end.
“The vast array of strategic mineral resource endowments, coupled with increased capacity utilisation and stable national energy supply, among other factors, will undoubtedly see sustained growth in the sector,” he said.
“As you may recall, I was here in December last year for the ground-breaking ceremony of the flotation plant being commissioned. I would like to thank all stakeholders who have worked tirelessly to complete this lithium flotation plant in just eight months,” he said. By Farai Mabeza