Symposium seeks to unleash gold sector potential
THE need to unleash the gold sector’s potential is under focus here today where local and regional mining executives are gathered to deliberate on challenges and opportunities in the extractive sector, which is one of the top economic anchors.
Today’s Gold Sector Symposium is a key highlight of the 2022 Chamber of Mines of Zimbabwe Conference, which will be officially opened by President Mnangagwa at Elephant Hills Hotel.
Mines and Mining Development Minister, Winston Chitando, is the guest of honour at today’s session while Tanzanian Chamber of Mines CEO, Mr Benjamin Mchwampaka, will deliver the keynote address, according to the programme shared by the event organisers.
There will be a panel discussion focused on generating solutions for sustainable growth and development of the gold industry as well as crafting financing solutions for gold projects.
Gold supporting entities such as Ecobank, Fidelity Printers and Stanbic Bank are also participating.
Yesterday delegates who had arrived in the resort city went on a pre-conference boat cruise before an interactive dinner at the venue.
This year’s crunch mining indaba is being run under the theme: “Consolidating growth driversfor the mining industry” and comes amid high optimism that the mining sector is on a rebound as evidenced by re-opening of a number of mines and establishment of new entrants.
Minister Winston Chitando
The mining industry is one of the major economic mainstays to anchor the country towards an upper middle-income economy by 2030.
The conference will end on Saturday and is the Chamber of Mines’ flagship event used as a platform for marketing, branding and engaging with stakeholders in the mining industry.
According to the programme, Vice-President Dr Constantino Chiwenga, Finance and Economic Development Minister Professor Mthuli Ncube, Reserve Bank of Zimbabwe Governor Dr John Mangudya, and chief executive of the Botswana Chamber of Mines, Mr Vusi Mabena, are among the speakers.
Some of the areas for discussion will be around overview of the performance of mining sector as a whole with the Zimbabwe Miners Federation set to present on the state of the small-scale gold sector with a case of the Tanzanian gold industry.
The conference seeks to interrogate challenges and proffer solutions for sustainable growth and development of the gold industry.
Professor Mthuli Ncube
The role of the commodities exchange in promoting the growth and development of the mining sector will also be under discussion.
The conference will also seek to find ways of maximising mining contribution to the economy beyond today and consolidating growth drivers for the mining industry and also funding solutions for the mining industry with reference to the international experience.
Chamber of Mines chief executive officer Mr Isaac Kwesu has said the conference comes at a time when the outlook for the mining industry is positive, buoyed by an encouraging commodity price upturn that has seen mineral prices surpassing their long term averages.
Mr Isaac Kwesu
The country is targeting export revenue from minerals to US$12 billion by 2023 as it seeks to transform the country into an upper middle-income economy by 2030.
The US$12 billion mining industry represents a 344 percent increase from the US$2,7 billion registered in 2017. The growth of a multi-billion dollar industry will be driven by gold, platinum, diamond, chrome, iron ore, lithium, coal, and other strategic minerals, officials say.-The Chronicle
