Zim’s Mines Can Earn $18 Billion Annually Says Report

Photo: pindula

 

Mining Report, a United Kingdom-based consultancy that helped organise the Zimbabwe Mining Investment Conference has said that Zimbabwe has the potential to earn $18 billion per year from its mines. The consultancy also said that Zimbabwe’s mines are underutilised as the country has only been receiving an estimated $2 million per year for the past 9 years. Said Mining Report,

Zimbabwe offers a truly once-in-a-lifetime opportunity. The country’s 800 mines have the capacity to earn $18 billion per annum but were only turning out about $2 billion annually since 2009. This represents about a tenth of the sector’s full potential and translates to an incredible opportunity for investors, and the government is fully committed to creating an enabling environment for investors.

Reserve Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo said that the central bank is also going to ensure that investors can walk in and out with their money. Said Mlambo,

Money should be able to walk in and out and that is something the Reserve Bank is working on ensuring will happen.

Source :

pindula

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