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HomeBusinessED To Attend This Year’s African Mining Indaba In Cape Town

ED To Attend This Year’s African Mining Indaba In Cape Town

President Emmerson Mnangagwa is set to attend this year’s edition of the African Mining Indaba to be held in Cape Town, South Africa from 9-12 May joining four other heads of states that have already confirmed their participation.

The African Mining Indaba is the world’s largest mining investment gathering focusing on growth and sustainable development of Africa’s massive resource base with global mineral companies attending.

Mnangagwa will join his counterparts in host Cyril Ramaphosa of South Africa, Mokgweetsi Masisi of Botswana, Hakainde Hichilema of Zambia and Jean Michel Lukonde, the prime minister of DRC.

The mining community will be looking to the future with the overarching theme: ‘Evolution of African Mining: Investing in the Energy Transition, ESG, and the Economies.’

Emirates

Since assuming the mantle of President in 2017, President Mnangagwa has continued to emphasize the importance of mining to the Zimbabwean economy and has sought to encourage investment in exploration, mining and refining.

Zimbabwe is targeting a US$ 12 billion economy by 2023 anchored on increased gold production which is set to contribute US$ 4 billion with several other major resources such as diamond, chrome, coal, nickel and platinum set to contribute prominently to this target.

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Posing the greatest challenge to the attainment of this target, is the limited investment into the country’s mining sector, smuggling of minerals feeding into the black market and Zimbabwe’s unfavorable internal policies such as foreign currency retention which is cutting on margins for most mineral producers in the country.

The African Development Bank has also announced its participation at the 2022 African Mining Indaba, in collaboration with the African Legal Support Facility.

The platform will provide Mnangagwa a platform to pitch to global mining executives the opportunities in Zimbabwe’s underutilized mining sector and underutilized potential which has suffered years of infrastructure neglect and lack of investment in exploration.

 

 

 

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