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Mining, which is forecast to grow by 44 percent this year, has become central to the economy, emerging as the axis upon which economic growth rests.
Chamber of Mines president Mr Victor Gapare said against this background, efforts would be made to ensure that a draft policy on mineral development is crafted.
“The country is operating in the absence of an elaborate mineral development policy. If it is available the policy document is not widely accessible to operators in the industry and potential investors,” said Mr Gapare.

The Chamber of Mines said a well designed mineral development policy will “clearly outline the current status of the industry and lay out a roadmap of where it will be and what will be done to get the industry to the desired state”.

Said Mr Gapare: “We have engaged a number of stakeholders and during the year efforts to develop a draft will be made.” The call for a mineral policy comes as the Ministry of Mines and Minerals Development is working to finalise amendments to the Mines and Minerals Act.
Amendments to the Act would give an elaborate position on the security of tenure, administration and compliance with mining title management requirements, among others.

The new Mining Act, said the Chamber of Mines boss, would give an elaborate position regarding compliance with sound environmental management practices.
In efforts to assist with a detailed account on the mining industry, the Chamber of Mines said it would commission a study on the platinum group of metals and base minerals with particular emphasis on chrome and nickel.

The study would also cover diamond mining in Zimbabwe, which has become a key sub-sector since the discovery of alluvial diamonds in Marange.
“This will give policymakers in Government and investors good information on some of the most important minerals for Zimbabwe. In the end, we will also cover coal and diamonds but these will be done a little bit later.”

The chamber said it was looking forward to the ultimate resolution of a number of factors that affected mining operations and investment in 2010. Among major issues that affected mining operations last were  crippling power shortages, uncertainty over indigenisation and the high cost of funding.
Government has since identified potential investors to increase power output, but only one of the projects would be operational by 2014 at the earliest, hence the need for bridging measures.
A final position on indigenisation would be known once Cabinet reviews recommendations from sector-specific committees commissioned by the indigenisation body to craft implementation modalities of the Indigenisation Act.

Mining houses face an uphill task to raise funding to recapitalise operations after it emerged the sector requires an estimated US$5 billion to retool.
Mining is central to the economy as it contributes about 65 percent of exports and over 5 percent to the value of goods and services produced in Zimbabwe. Mining firms claim the sector contributes over 16 percent.-The Herald