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Mr Mhembere

Business Reporter
Mimosa Mining’s corporate affairs executive Ms Elizabeth Nerwande has broken new ground, having been elected as the first woman to the post of second vice president of the Chamber of Mines.

Ms Nerwande was elected at the Chamber’s annual general meeting in Victoria Falls last week.

Mwana Africa provided the Chamber’s new president and first vice president.

Freda Rebecca’s managing director Toendepi Muganyi was elected the Chamber’s new president, taking over from Zimplats chief executive officer Mr Alex Mhembere.

Another Mwana Africa company, Bindura Nickel Corporation’s managing director Batirai Manhando was elected as the first vice president while Mines Minister Walter Chidhakwa remains honorary vice president.

Outgoing president Mr Mhembere said the mining sector is forecast to grow 3 percent this year, recovering from a negative growth of 2 percent in 2014.

Mr Mhembere said the sector, which is currently contributing 15 percent to nominal GDP,13 percent to fiscal revenue and percent to national employment, saw its share to total exports fall to 53 percent in 2014 from 57 percent in 2012.

In 2014, the total value of minerals fell from a peak of $2,2 billion in 2012 to $1,9 billion in 2014.

Mr Mhembere said the mining sector is operating below capacity amid a host of challenges including depressed metal prices, inadequate capital, high cost structure and suboptimal royalty, shortages and inconsistent supply of power and low exploration activities.

“A number of gold and chrome companies continue to face viability challenges while key minerals such as platinum and diamond continue to record decline in output,” said Mr Mhembere.

“Notwithstanding the challenges, Zimbabwe’s mining industry remains a key driver to economic revival and its contribution compares favourably with both international and regional experiences,” he said.