Africa Diamond Economy Forex Government Mining Zimbabwe

Zimbabwe steps up efforts to revitalize mining industry

Zimbabwe President Emmerson Mnangagwa on Saturday said the country’s mining industry is expected to contribute about US$12B to the national economy by 2023 as his government steps up efforts to revitalize it.

Mnangagwa made the remarks at the re-launch of Anjin Investments, a China-Zimbabwe diamond mining joint venture, in Chiadzwa diamond fields in Manicaland Province.

Mnangagwa said he is confident that Anjin will contribute to the revitalization of Zimbabwe’s diamond mining industry due to its experience and expertise.

Also read: Russia’s Alrosa starts diamond prospecting in Zimbabwe through JV with ZDCD

“We equally look forward to the creation of both direct and indirect jobs as well as empowerment opportunities for associated value chains,” he said.

Zimbabwe sees the mining sector as the main driver of the efforts to revive its economy crippled by a triple-digit inflation and shortages of foreign currency.

Mining operations accounted for over 60 percent of Zimbabwe’s foreign currency receipts in 2019, contributing around 16 percent of the country’s GDP, according to the Chamber of Mines.

Source: Xinhuanet

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