THE Government’s mining reforms have been recognised by organisers of the globally reputable Mines and Money Conference after becoming the only nominee in the Most Improved Mining Jurisdiction of the Year Award Category.
The nomination of Zimbabwe as the only African country among a host of other major mining jurisdictions such as Saudi Arabia, Canada and the United Kingdom is a major feat that attests to the praises that of late have been showered on the country as a lucrative investment destination for those seeking real returns in the mining sector.
Recent examples include New York Stock Exchange-listed Caledonia Mining Chief Executive Officer Mark Leamoth, who revealed in July that they will continue to invest heavily at its Blanket Gold Mine in Gwanda, citing Zimbabwe as their permanent home for future growth prospects, having acquired another mining asset Bilboes to catapult it to a 200 000 ounce per annum mining house.
Johannesburg Stock Exchange listed Implats Chief Executive Officer Nico Muller, whose primary asset is platinum miner, Zimplats along the Great dyke, recently noted that Zimbabwe is their best bet for future growth having last year announced a US$1.8 billion mine plan.
Mines and Mining Development Minister, Honourable Winston Chitando said this prestigious nomination is by no means an accident and speaks volumes of Zimbabwe’s investment climate.
“President Emmerson Mnangagwa set the US$12 billion mining sector target by the year 2023 and that immediately jolted us into action which brought reforms to lure more players in the sector. We have witnessed a growing number of foreign companies occupying key sub-sectors and this nomination is by no coming at the right to recognise our sterling efforts to reform the mining sector,” he said.
Other mining sub-sectors have also witnessed hefty investment inflows such as at Arcadia Lithium Mine in Goromonzi, which is expected to start producing lithium by the second quarter of next year.