MUTARE - Chiadzwa diamond mine has great potential when it reaches its peak, the minister of Mines and Mining Development, Obert Mpofu In his speech at Zimbabwe National Chamber of Commerce (ZNCC) business awards last week, Mpofu said: “The potential diamond field in Marange are vast and in extent about 70 000 hectares but much of it is yet to be explored and exploited.
Mpofu told the local business community that there were huge opportunities and the country was in over drive to pursue investors to exploit this resource. Meanwhile, the ministry of Mines and Mining development has issued eight special grants for exploration and mining coal while another batch is in the final stage of being granted in an effort to meet current challenges in power supply.
Mpofu said the huge backlog of more than 450 of exclusive prospecting orders was being processed and would result in the creation of more space for claims and further exploration applications. “The mining sector is in growth mode with most mines including those, which had been under care and maintenance recording increase in capacity,” Mpofu said.
He also said Platinum production was expected to double current figures after Zimplats commissioned the US$350 million expansion project in the last quarter of 2009. Mpofu said the deregulation of the gold sector last year, and the improvement in the prices, stimulated gold production by 35 per cent from 3,1 tonnes in 2008 to 4,2 tonnes in 2009.
Post published in: Economy