Mining sector prospects a ‘mixed bag’

THE Chamber of Mines of Zimbabwe (CoMZ) has painted a mixed picture of the sector’s prospects this year, highlighting both glimmers of hope and significant challenges.

While 2023 brought the commissioning of promising new projects, the industry faced a tough year marked by declining revenues, subdued commodity prices, and persistent power outages.
“The year was a mixed bag,” CoMZ president Isaac Kwesu acknowledged.
“New projects hold the potential to boost future output, but that potential was stifled by depressed commodity prices and constant power cuts,” Kwesu told The Financial Gazette recently.
These disruptions weighed heavily on most mining houses, leading to a general decline in topline figures.
Looking ahead, the outlook remains c