Economic analysts are predicting Zimbabwe’s 2022 mineral export receipts to surpass the US$4 billion mark, achieved last year due to sustained increase of commodity prices internationally.
Strong mining performance in 2021 generated US$4.4 Billion, an 18 percent growth from 2020 level of US$3.7 Billion.
With International commodity prices stable, Zimbabwe’s mining sector which is highly diversified, with close to 40 exportable minerals is expected to scale dizzy heights.
Development Economists are convinced Zimbabwe’s conducive mining environment is a stimulant to high productivity.
“Last year’s mining performance was encouraging and with commodity prices firming we are expecting the sector to reach unprecedented levels in 2022 towards realising the earmarked US$12 billion milestone by 2023,” said Investment Analyst Mr Kudakwashe Mugova.
“The current projection with respect to high prices coupled with good policies and incentives such as the Gold incentives and tax holidays given to some platinum miners will give the mining sector the impetus to grow and this will help Zimbabwe develop economically in the short term given that mining support several other sector directly and indirectly, “added another Development Economist Mr Titus Mukove
The strong performance in the mining sector is also expected to set the footpath for further growth prospects in 2022 as the economy targets a 12 billion mining industry next year. – ZBC