Zim an attractive mining destination

Zimbabwe is deemed to be very attractive among other African countries by mining investors on the back of its geological potential.

The country is endowed with vast mineral resources ranging from gold, platinum, diamonds and chrome among others.

This falls well into the country’s agenda of achieving a US$12 billion revenue sector by 2023.

According to the Mineral Potential Index of 2019, Zimbabwe is among the top African countries with great geological potential, as viewed by investors, a situation that the Government can exploit for the sector’s further growth which should cascade to communities.

The Mineral Potential Index, together with the Policy Perception Index forms the Investment Attractiveness Index that is carried out by Canadian think tank, Fraser Institute.

The annual Investment Attractiveness Index is an attempt to assess how mineral endowments and public policy factors such as taxation and regulatory framework encourage or discourage mining investment.

Tax Justice Network Africa (TJNA) advisor on tax and natural resources governance, Mukasiri Sibanda, said this could be an opportunity to improve other areas Zimbabwe is lagging behind — such as policy perception — to enhance its attractiveness and boost foreign direct investment.

“African countries that were deemed to be very attractive according to the 2019 annual survey are Zimbabwe and DRC.

“When it comes to investment, the perception of investors in terms of our exploration, they are attracted by our geological potential. It means we have more work to do in terms of correcting the negative perception, say, on our policy environment.

“This, to me should inform Government that more investors could be coming in because of our geological potential, that is all things being equal,” said Mr Mukasiri in an interview during the African Forum and Network on Debt and Development (AFRODAD) 2020 Summer School here in Kariba.-herald.cl.zw