Miners contend with economic headwinds

WITH mining experiencing a downturn in the first quarter due to myriad challenges, in particular a huge power deficit in the economy, interest in new minerals such as lithium is expected to provide the sector with a lift as the government prepares new production targets.
This comes amid efforts by the government to export the country’s mineral resources in processed form rather than as raw materials, which has been the case.
Speaking to The Financial Gazette after the Chamber of Mines of Zimbabwe (CoMZ) annual conference in Victoria Falls last week, chief executive, Isaac Kwesu said the indaba had come at a time output for most minerals had taken a knock due to Zimbabwe’s “unique economic circumstances”.
“Specifically, this has been on the backdrop of power supply deficits that have been experienced throughout the country. Mining was not an exception.