‘Zim on course to achieve US$12bn mining target by 2023’ 

Source: ‘Zim on course to achieve US$12bn mining target by 2023’ – NewsDay Zimbabwe

MINES and Mining Development deputy minister Polite Kambamura yesterday claimed that Zimbabwe was on track to achieve the US$12 billion mining revenue milestone by 2023 with diamonds set to contribute US$1 billion.

Speaking at a platform to discuss the state of readiness by Zimbabwe for the Kimberley Process Certification Scheme (KPCS) in Harare, Kambamura said the mining sector contributed US$5,2 billion in 2021 up from US$2,7 billion the previous year..

“In terms of the US$12 billion milestone, so far we are on track, and we look forward to this contribution from the diamond sector.  We can achieve this milestone in the diamond sector if it is aligned to KPCS.  The US$12 billion vision requires us to work as a team with stakeholders,” he said.

“The US$12 billion target will be achieved through the opening of new and closed mines, enhanced mineral exploration, expansion of existing mines, increased capacity utilisation and value-addition and beneficiation. The value addition of diamonds through cutting and polishing will play a key role in the growth of the diamond sector with 10% of the diamonds being set aside for the local industry.”

Zimbabwe is the vice-chair for the KPCS for 2022.

“As you may be aware, Zimbabwe is due for a KP visit in May 2022. It is of utmost importance that the review is carried out successfully to ensure that we continue to be part and parcel of the KP family.

“As part of efforts to ensure that the KP review is a success, the Mines ministry has co-ordinated and conducted a self-assessment exercise which started at the beginning of March this year. This will help us assess the state of our readiness for the KP review visit.”

Speaking at the same event, Zimbabwe KP focal point person Arnold Mukombachoto said: “The upcoming review visit is an opportunity for the Zimbabwe diamond industry to showcase the strides taken since 2012 towards enhanced KP compliance.”

During Tuesday’s Cabinet meeting, Mines and Mining Development minister Winston Chitando said a KP team would be undertaking a review visit to Zimbabwe from May 8 to 13, 2022 to enable Zimbabwe to undergo a review process every five years.