Zimbabwe’s mining sector shines bright

 Philemon Jambaya

Zim Now Editor

- 4 million tonnes: Minerals sold last year, excluding gold and silver

- 70%: Contribution of the mining sector to Zimbabwe's foreign exchange inflows

- 2030: Target year for achieving an upper-middle-income society

 Zimbabwe's mining sector has emerged as a beacon of hope for the country's economy, with the Minerals Marketing Corporation of Zimbabwe (MMCZ) reporting a staggering 4 million tonnes of mineral sales last year, excluding gold and silver. This impressive feat was achieved despite depressed global commodity prices, which have been a thorn in the side of many mining industries worldwide.

 At the helm of this success story is the incoming MMCZ General Manager, Dr. Nomusa Moyo, who attributes the growth to increased production and a strategic focus on high-value minerals. "The platinum sector has been the main revenue contributor, but we're also seeing significant contributions from diamonds, lithium, chrome, coal, and other minerals," Dr. Moyo revealed.

 As the mining sector continues to drive foreign exchange inflows, contributing over 70% of the country's overall receipts yearly, the MMCZ is setting its sights on consolidating this growth trajectory. With a focus on external market diversification, the agency is scouting for new markets to increase revenue.

 "Our role is to identify minerals with high revenue potential and ensure the mining sector remains a pillar of economic growth," Dr. Moyo emphasized. With the mining sector expected to play a critical role in achieving an upper-middle-income society by 2030, the future looks brighter than ever for Zimbabwe's mining industry.

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