Mining attracts investors

11 Aug, 2015 - 00:08 0 Views
Mining attracts investors Deputy Minister Moyo

The Herald

Deputy Minister Moyo

Deputy Minister Moyo

Munesu Nyakudya Business Reporter
The mining industry in Zimbabwe is currently the biggest target for international investors.

Mines and Mining Development Deputy Minister Fred Moyo said the mining sector is the biggest drawcard to the country for foreign investors.

“Mining is currently Zimbabwe’s biggest target for international investors. Mineral exports account for over 50 percent of the country’s foreign exports earnings,” said Deputy Minister Moyo.

The mining sector has been declining since 2000 owing to mine closures due to viability problems, but is slowly being revived owing to raising global demand for minerals and high mineral potential of the geological environment.

The deputy minister said that coalbed methane is a potential resource which has been identified but the commercial viability of the gas is still to be assessed.

 

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