Mining sector to drive Zim investments

Zimbabwe has vast mining opportunities, with over 60 different high-value minerals bothmthose already mined and some, such as rare earths, never exploited, President Mnangagwa said yesterday. Addressing a virtual business conference that included British investors and Government
ministers, with President Mnangagwa in Gleneagles while the investors followed proceedings from Glasgow, he said Government will continue to improve the ease of doing business to ensure reduced costs for investors.

In the mining sector, Zimbabwe is endowed with vast natural resources and is host to more
than 60 different minerals, in the categories of precious metals, base metals industrial
metals and gemstones, among others, said the President.
The major minerals include gold, platinum group of metals, diamonds, lithium, chrome,
iron, ferrochrome, coal, nickel, copper, coal bed methane gas as well as oil and rare earth
elements that are critical in this Fourth Industrial Revolution and technology-driven era.
The mining industry is projected to grow by 11 percent this year. Guided by the country’s
mining strategy, investment opportunities exist in increased exploration, expansion of
existing mining projects, resuscitation of closed mines, opening of new mines, mineral
beneficiation, and value addition

Government is encouraged and buoyed by immense possibilities presented by ongoing oil
and gas exploration, with projects underway in Muzarabani, in the north eastern part of the
country.
President Mnangagwa said the oil project will broaden Zimbabwe’s energy mix and provide
additional investment prospects along the petro-chemical industries, with far-reaching
benefits to the economy.
“My country’s quest to expand the renewable energy sector entails investment
opportunities for those who would wish to set up solar energy plants and associated
industries.
“The abundant lithium deposits present investment prospects for the lithium industry value
chains,” said the President.
The financial services sector remains stable and Government will continue to implement
reforms and create a robust investment environment that further opens Zimbabwe for
business, reduces the cost of doing business and improving the country’s competitiveness.
Government is also working on cutting red tape to ensure investors don’t move from pillar
to post to get assistance.

Other opportunities exist in the manufacturing sector, energy, ICT, tourism and agriculture.
In tourism, Zimbabwe wants investors who want to set up hotels and other facilities to
broaden the tourism products.
In furtherance of the reengagement drive, Zimbabwe continues its quest to be a friend to all
and enemy to none within the community of nations.
President Mnangagwa said his administration will continue to honour bilateral investment
promotion and protection agreements and respect private property rights.
“We stand ready to welcome all investors and business enterprises from the UK, and extend
a special invitation to the Scottish Business Community to come and invest in Zimbabwe.”
President Mnangagwa wanted all investors that have been inconvenienced by civil servants
to immediately report so that action is taken against them.
Mr Roy Pitchford, who has interests in mining in Zimbabwe, said he was grateful for the
investment climate created by the Second Republic and said his continued investment in
Zimbabwe was testament to the conducive environment.
A Zimbabwean, Mr Costa Mangani, asked if a road leading to his rural home in Gokwe would
be constructed.

He repeated the formula that a country is built by its owners, and asked Zimbabweans in the
diaspora to bring their expertise back home to develop Zimbabwe.
A representative of the British-Africa Business Alliance asked the President to redouble
efforts of ensuring the investment climate was improved