Zimbabwe eyes, US$5,5 billion from lithium, steel projects

Winston Chitando
Spread the love

Three lithium mines and the Manhize Steel mines and furnaces are expected to rake in at least US$5,5 billion next year as they move into production and add to what is already being mined at present, Mines and Mining Development Minister Winston Chitando said yesterday.

The three lithium mines are Arcadia Lithium Mine in Goromonzi, Sabi Star in Buhera and Bikita Minerals.

In his review of the mining industry, Minister Chitando said the sector had performed well and is expected to continue on the positive path in 2023.

“In terms of the projects, which were under construction and will be commissioned next year are the Arcadia Lithium Mine, the Sabi Star Mine and the Bikita Minerals Expansion and the Manhize Steel Project. “These four projects on their own and their impact on our target is a minimum of US$5,5 billion,” he said.

“The year 2022 has been a good year for the mining industry in Zimbabwe.” 

“I would classify the mining industry in Zimbabwe in 2022 into three categories which are: The mining capacity which we had in 2021 and which continued to operate at very high levels; a second category of projects which were commissioned in 2022, some of them were commissioned early 2022, some of them at the end of 2022, so thus they did not contribute fully in 2022 in terms of their economic potential or installed capacity; the third category are projects which were undergoing construction and would be commissioned in 2023.

“The three categories are the categories which will contribute to the US$12 billion a year industry. A proper appraisal of the US$12 billion target will be done early next year,” he said.

Government set a US$12 billion target in contribution from the mining sector by the end of 2023 and Minister Chitando said the country was on course to reach it.

Apart from the three lithium mines that will be commissioned next year, other projects that will be commissioned include the: Dinson Colliery coke works, the South Mining coke works, Murowa Diamonds Plant construction which will be commissioned next year and Pickstone Peerless gold mine. Phase one of Disco’s Manhize Steel mines and blast furnaces are expected to be completed next year with Disco then moving into the next phases.

“There are also those projects which were put in motion and in some cases under construction and will be commissioned beyond 2023. These projects will not fall under 2023 but will come as part of the 2028 target and part of the 2030 upper middle income economy contribution,” Minister Chitando said. – Herald