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ZIMBABWE'S MINERAL RESERVES
Investment opportunities in the mining sector.

Mining Sector

  • The mining sector has vast untapped potential.
  • Mining accounted for 4.9% of Zimbabwe's GDP in 2009, about 4.5% of employment and a third of total foreign exchange earning based on 2007-2008 output.
  • Major minerals are gold, platinum, chrome, iron ore, platinum group metals, nickel, copper and coal.


Mineral
Reserve
Current Annual Extraction Rate
Future Years of Extraction at Current Production Levels
Chromites 930 million tons 700,000 tons 1300 yrs
Coal 11 billion tons 4.8 million tons 2300 yrs
Coal bed Methane 39 billion cubic meters Nil The sky is the limit
Copper 5.2 million tons Nil Many years
Diamonds 16.5 million tons Infancy +300 years
Gold 13 million tons 20 tons 650,000 yrs
Iron Ore 30 billion tons 300,000 tons 100,000 yrs
Nickel 761 million tons 9,000 tons 500 yrs
Platinum 2880 million tons 2396,000 tons 1200 yrs
Uranium (TBA) tons Nil Many years
Source: Ministry of Mines, Chamber of Mines

Zimbabwe's Challenges in the Mining Sector

Significant realisation of the potential of the country's mining industry will require up to US$3-5 billion investment towards the recapitalisation of mining houses over the next 3-5 years.


Real Sector Growth Rates
Sector 2008 2009 2010 2011
Agriculture -36% 10% 33.9% 19.3%
Manufacturing -12% 8% 2.7% 5.7%
Mining -30% 33.3% 47% 44%
Tourism 9% 6.5% 9.1% 8.7%
Source: Ministry of Finance
Growth Opportunities in the Mining Sector

  • This sector has been the fasts growing since 2009;
  • This after having taken advantage of positive policy measures under the Short-Term Emergency Recovery Programme (STERP).
  • Such measures include the removal of forced foreign exchange surrender requirements and;
  • The full retention of export proceeds.
  • Mining grew by 47% in 2010 and expected to stabilize to about 44% in 2011 compared to a decline of -30% in 2008.
  • The growth will be underpinned by a 24.6% increase in gold production, 9% increase in diamonds, 8.7% increase in platinum, 6% increase in chrome, 5.7% increase in nickel and 3.9% increase in coal production.
 


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