Zimbabwe Unveils Plan for $12 Billion in Mineral Revenue by 2023 – by Godfrey Marawanyika (Bloomberg News – October 14, 2019)

https://www.bloomberg.com/

Zimbabwe is targeting a fourfold increase in revenue from minerals by 2023 but an ambitious plan unveiled by Mines Minister Winston Chitando on Monday gave little detail on how the government would achieve this.

The policy document, known as the Strategic Road to the Achievement of US$12 Billion By 2023, sees gold exports at $4 billion and platinum at $3 billion as the government focuses on “value addition, enhanced investment within the sector, increased productivity and employment creation and increased exports and foreign-currency generation.”

However, the document makes no mention of an eagerly awaited overhaul of the country’s mining legislation that would be crucial in attracting foreign investment to the industry.

It states that “in several cases the companies undertaking the various projects have been indicated. Where negotiations are yet to be concluded and or where the companies in question are quoted on stock exchanges and relevant announcements are yet to be made, reference will only be made to an investor.”

For the rest of this article: https://www.bloomberg.com/news/articles/2019-10-14/zimbabwe-unveils-plan-for-12-billion-in-mineral-revenue-by-2023?utm_source=google&utm_medium=bd&cmpId=google

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