Zimbabwe’s mining potential, as is of other African countries, will change lives of millions for the better. The Ministry of Mines currently is sitting on the potential bench. Furthermore, tangible and meaningful contribution mining has for the nation is yet to be seen. The nation has 60 minerals, 200 active mines, 500 investment opportunities and a staggering 56 615 mining titles.
Benefits of a viable mining industry
Additionally, these statistics are yet to translate to viable economic benefits for the African country. Mining contributes substantially to Zimbabwe’s GDP and export earnings. It provides a stable source of foreign currency, which is crucial for economic stability.
Also, the sector generates both direct and indirect employment opportunities, ranging from mining operations to supporting industries like logistics, manufacturing, and retail.
Challenges in the mining sector
However, somewhere along Zimbabwe’s mining value chain towards economic development is a broken link. This is so because mining has and still is one of Zimbabwe’s big economic boosters. However, it is no secret that the nation is in dire economic challenges. This is where poverty levels are high, service delivery is close to non-existent and unemployment levels are high.
Moreover, Zimbabwe’s mining potential is hindered by a number of challenges. Top of them being lack of consistent electricity supply and close to non-existent investment due to investors lack of confidence in the economy. Also, there is currently a shortage of skill supply in the mining sector.
This shortage makes it very difficult for those in the field to fully realise mining’s full potential as full beneficiation in this sector rests on the right skillset and proper application of these skills. Furthermore, these challenges also include high operational costs and policy inconsistencies. The also impact the competitiveness and sustainability of this industry.
Silver lining
However, in any dire situation there is always a silver lining. Those currently in the sector are working to ensure Zimbabwe’s mining potential turns to economic development. Organisations like the Minerals Marketing Corporation of Zimbabwe (MMCZ) actively search for markets on behalf of producers. The Chamber of Mines of Zimbabwe promotes, encourages, protects and fosters the mining industry.
Final words
So, it is not all doom and gloom. With tenacity, persistence and resilience, Zimbabwe’s mining potential can move from just being potential to much more. Stakeholders in the mining sector have a huge role to play to increase mining’s contribution to the GDP. From the government to the private sector and investors.
