Scheme for miners

The Reserve Bank of Zimbabwe and the Ministry of Mines and Mining Development are working together to establish a mining mechanisation programme for small to medium scale miners.

Speaking on the sidelines of the Economic Empowerment and Prosperity Symposium recently held in Harare, RBZ Governor, Gideon Gono, said the sector needed $50 million for the importation of mining equipment.

The symposium was organised by the Affirmative Action Group in collaboration with the Bankers Association of Zimbabwe.Gono said the initiative would enable the sector to turn the economy around within nine months, and had the potential to generate between $2 billion and $3 billion within a year.

“We will allow those with mining claims to utilize the equipment along the same lines with what we did with the agricultural sector,’’ said Gono.

The farming mechanization programme was, however, dogged by controversy. There are fears that the mining mechanization programme will be used tobenefit miners on partisan grounds.

Post published in: News

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