Mining sector benefits from supportive policy

"The mining sector in Zimbabwe has experienced a good run in these two preceding years and growth for the sector has leapt from 5,9 percent in 2021 to an estimated 10 percent in 2022. "Capacity utilisation for the mining sector in 2022, according to the Chamber of Mines Zimbabwe, remained relatively flat compared to the preceding …

Transforming Zimbabwe's mining sector: A path to prosperity

Vusumuzi Dube, Zimpapers Elections Desk "OUR mining sector is the proverbial frog. When Minister Winston Chitando came to Cabinet with his target of a US$12 billion-dollar mining economy by 2023 ...

'Mining, agriculture pivotal to Zimbabwe economy'

Economic commentator Mr George Nhepera said mining and agriculture are expected to remain pivotal in bolstering Zimbabwe's economy. This, he said, is despite the prevailing situation that is marred by the current subdued mineral prices on the global market and the envisioned drought due to the predicted El Niño phenomenon.

Decline in Mining Income Spooks Zimbabwe Economy

via Decline in Mining Income Spooks Zimbabwe Economy by Gibbs Dube VOA 04.06.2014. An independent Zimbabwean chartered accountants firm says overall mining income fell by $67 million in the first quarter of 2014 due to volatile prices of minerals worldwide and the country's feared controversial black economic …

Reviving The Legacy Of Formalized Artisanal Mining

September 6, 2020. Read Next. Stakeholders in the mining sector have urged the government to revive its legacy efforts of formalizing artisanal mining to curb crime, black-market trading and Illicit financial flows IFFs. Speaking during a virtual discussion organized by the Zimbabwe Allied Diamond Workers Union (ZIDAWU) Proud Nyakunu, ZIDAWU ...

Use it or lose it mining policy key for economic revival

The use it or lose it mining policy which Government said it will put in place is long overdue as the mining sector is one of the economic pillars and a key foreign currency earner. Mining generates more than half of Zimbabwe's export receipts and in 2018 it earned US$2,8 billion and with improved utilisation of idle mineral deposits in the ...

Mining earnings jump 100pc since 2017

ZIMBABWE'S mining sector has achieved more than 100 percent growth in earnings under the Second Republic led by President Mnangagwa, evidenced by the massive jump in mineral exports to US$5,62 billion realised in 2022 when compared to about S$2,7 billion in 2017. The sector is a shining example of growing investor …

Forging Inclusive Economic Growth in Zimbabwe

trade or mining, and their livelihoods are acutely vulnerable to rushed and/or ideologically driven policy. Restructuring Zimbabwe's economy is necessary, but the process needs to be pursued carefully and will take time. It will also require finding an appropriate balance between state- and private-sector-driven economic change.

Zimbabwe Economic Outlook: Assessing Past Struggles and …

One of the most notorious periods in Zimbabwe's economic history occurred during the early 2000s when hyperinflation spiraled out of control. By November 2008, the inflation rate had reached a staggering 79.6 billion percent, leading to the country abandoning its currency and adopting multiple foreign currencies, primarily the US …

The Political Economy of Artisanal and Small-Scale Gold Mining …

The article situates the discussion of the growth of ASM in the context of the political economy of Zimbabwe's crisis decade and subsequent period of power sharing. It reveals both similarities and differences with the political economy of diamond mining in Zimbabwe, which has attracted greater attention from scholars and the human rights ...

Mineral exports hit US$20b mark

ZIMBABWE has raked in more than US$20 billion from the export of minerals from 2018 to date, Mines and Mining Development minister has said, underlining the sector as a key driver of economic growth. Speaking at the commissioning of the Kamativi Mining Company's spodumene mine and phase one lithium flotation plant on …

The political economy of small-scale mining in Zimbabwe

All this changed in the mid-2000s. At the height of the economic crisis, the Reserve Bank, under Gideon Gono, decided to recentralise control over mining. The rationale was the 'rampant' environmental destruction caused as many more took to gold panning and illegal, informal small-scale mining to make ends meet.

In Zimbabwe, Economic Crisis Pushes Underaged to …

Zimbabwe's worsening economic crisis has forced Kudzai into the trade, and most of her clients are artisanal gold miners, also there due to the economy. ... According to the CNRG report, illicit financial flows in the artisanal mining sector in Zimbabwe are responsible for leakages of an estimated 3 tonnes of gold, valued at …

Selous declared special economic zone

The Zimbabwe Special Economic Zones Authority (Zimseza) has declared a portion of Selous, covering areas with mining grants issued to platinum company, Karo Zimbabwe Holdings, as a special economic zone. This was published under General Notice 1838 of 2019 published in last Friday's Government Gazette by Zimseza chief …

Zimbabwe Economy Profile

Zimbabwe Economy Profile. Economy - overview. Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond …

Could lithium transform Zimbabwe's economy or will the …

It is estimated that the economy expanded at 4.1% last year and it is forecast to grow by 3.6% this year. The mining sector accounts for about 12% of GDP and 80% of national exports. The Chamber of Mines reported the mining industry generated $5.6bn in 2022 compared to $5.1bn in 2021, and it projected 10.4% sector growth in 2023.

The political economy of the mining sector

The impact of the mining sector on Zimbabwe's economy is very modest. Despite the fact that the country sits on one of the richest mineral deposits in the world, Zimbabwe has not succeeded in translating its mineral wealth into overall economic development. The government has recognised that fact, however, they are optimistic …

Zimbabwe Economic Update: COVID-19 Further Complicates Zimbabwe…

STORY HIGHLIGHTS. The latest economic analysis for the country says the COVID-19 pandemic and its impacts disrupted livelihoods, expanding the number of extremely poor citizens by 1.3 million, and increasing extreme poverty overall to 49% in 2020. The pandemic further disrupted provision of basic public services in health, education and …

Zimbabwe

Zimbabwe has tried a variety of means to stabilise its currency - at one stage the bank was ten trillion dollar notes, as inflation ran out of control. Article share tools Facebook

Resource Nationalism in Zimbabwe: Alternative Visions and …

14 G. Kanyenze, T. Kondo, P. Chitambara and J. Martens (eds), Beyond the Enclave: Towards a Pro-Poor and Inclusive Development Strategy for Zimbabwe (Harare, Weaver Press, 2011). 'Enclave economy' describes a subsector of the formal economy with relatively high productive and capital intensity, and income, but with weak …

Zimbabwe Mining CEO to Quit, Putting Economy Reboot in …

David Brown, chief executive officer of Zimbabwe's Kuvimba Mining House Ltd., intends to step down, jeopardizing the future of the company the government hopes will spur an economic revival. The 58-year-old South African mining veteran has told Kuvimba stakeholders he aims to step away from executive positions, two people …

State of mining industry report

A COUPLE of weeks back, Zimbabwe Chamber of Mines published its state of the mining industry survey report looking at issues faced by the industry and prospects for 2022. To ensure objectivity, the Chamber states that its involvement was restricted to sponsoring and facilitating access to information to its members who form a greater part.

Country Economic Memorandum: Accelerating Growth and Jobs in Zimbabwe

ensure a level playing field for private sector-led growth —to enhance efficient allocation of labor and capital resources across sectors and firms, reduce distortive regulations and enforcement that benefit a few firms at the expense of more productive firms. A new Country Economic Memorandum reveals that Zimbabwe's growth …

Agric, mining to anchor 2024 economic growth – Bulls n Bears

MINING and agriculture are projected to remain key drivers of Zimbabwe's economic growth this year despite the adverse impact of external shocks and the potential negative effect of the El Nino weather phenomenon, economic commentators have said. This comes as the Government's major policy interventions have restored stability, …

EDITORIAL COMMENT: Mining must anchor …

Mining accounts for over 60 percent of annual foreign exchange into Zimbabwe, contributing 12-16 percent of the country's GDP and employing over 65 000 directly and indirectly, yet little investment is …

Mining Veteran Quits Zimbabwe Firm Tied to Economic …

Mining Veteran Quits Zimbabwe Firm Tied to Economic Revival. (Bloomberg) — David Brown, chief executive officer of Zimbabwe's Kuvimba Mining House Ltd., which holds the nation's key mining assets, said he quit the firm in August. The 58-year-old mining executive said the company named Simba Chinyemba as the new …

LEDRIZ: A Brief Current Situation Analysis of Zimbabwe's Mining …

However, thanks to the efforts of all parties in Zimbabwe, the domestic economic situation has gradually improved. At present, cooperation with China is relatively successful. China now is the largest foreign investor in Zimbabwe and signed a number of cooperation with Zimbabwe in the mining industry. ... Zimbabwe's mining …

Zimbabwe and a wave of resource nationalism

Zimbabwe joins the wave of resource nationalism. Zimbabwe banned the exports of raw lithium ores in 2022, and then banned the exports of all raw mineral ores this year. Isabeau Van Halm explores the latest example of a wave of critical mineral resource nationalism. Miners in Zimbabwe will see more of their produce processed in the …

President Hopeful Zimbabwe Economy Will Turn Around in …

President Emmerson Mnangagwa has predicted Zimbabwe's moribund economy will turn around this year following the recent discovery of oil and gas near the country's border with Mozambique and Zambia ...

Zimbabwe

Zimbabwe's Chamber of Mines 2022 state of mining report projected significant growth in the diamond, coal, and chrome subsectors, with PGM continuing to lead the sector. The Chamber of Mines reported gold output reached an all-time high of 37.3 tons in 2022, up from 31.5 tons in 2021, and projected to increase to 42 tons in 2023.

Mining firm awarded US$195 000 damages

A chrome mining firm battling to recover its 20-tonne excavator from the miner that had hired it has prevailed before the High Court (Commercial Division) and was awarded more than US$195 000 plus interest in hire charges and holding-over damages. African Chrome Fields Limited instituted legal proceedings against Mr Adorn …

Zimbabwe Overview: Development news, research, data

Economic context. Zimbabwe's economic development continues to be hampered by several challenges. Real GDP is estimated to have grown by 5.5% in …

Zimbabwe

SOEs should have independent boards, but in some instances such as the recent case of the Zimbabwe Mining Development Corporation (ZMDC), the government allows the entities to function without boards. Zimbabwe does not appear to subscribe to the Organization for Economic Cooperation and Development (OECD) guidelines on …