Mining Sector requires US$5 billion for resuscitation

Posted by Maveriq

 Chamber of Mines of Zimbabwe  has said that the country’s struggling mining sector requires at least US$5 billion to resuscitate it.  The mining sector is one of the most taxed in the country  has been in decline recording negative growth in the last two years.

Isaac Kwesu, the chief executive of the Chamber of Mines of Zimbabwe said:

Our industry remains fragile notwithstanding output growth, we still have a high-cost structure compared to other mining jurisdictions, the operating costs characterised by a high electricity tariff, expensive funding and sub-optimal fiscal charges.

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