Zimbabwe pledges investor-friendly mining sector policies

Published: 25 September 2013

The government has assured existing and potential investors in the mining sector that it will continue to pursue investor friendly policies which seek to increase foreign direct investment and sustainable exploitation of the country's mineral resources.

The mining sector is under the spotlight as the country hosts the 5th edition of the Zimbabwe Mining Indaba which has attracted over 300 delegates who includes fund managers, investors, engineers and policy makers.

In his speech during the official opening ceremony of the three day long indaba, Mines and Mining Development Minister Walter Chidhakwa told investors that government will continue to implement investors friendly policies aimed at enhancing the attractiveness of the local mining sector and to ensure sustainable exploitation of the mineral resource.

Chidhakwa told the gathering that the country will prioritise the revamping of infrastructure to accelerate the growth of the mining sector, the finalisation of the new Mines and Minerals Act as well as implementation of value-addition strategies.

The 5th edition of the Zimbabwe Mining Indaba, which is running under the theme: 'Re-defining Africa: Harnessing our Resources Collectively' will see delegates deliberating on challenges facing the extractive industry in particular, lack of capital, unfavourable infrastructure and continued fall in metal prices.

The local mining sector continues to be the major driver of economic growth and development in Zimbabwe, with its share to GDP having grown from an average of 10.2 percent in the 1990s to an average of 16.9 percent in 2009.
- zbc

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