Zimpapers Logo

Mr Wilson Muza (right) looks on as workmen assemble an excavator in Rugare recently

Fortious Nhambura
It is a hot Sunday afternoon and five workmen are assembling a giant excavator in unison. It is a well choreographed play. Each of them has to perform his part with precision because mistakes can be costly. Any blunder can result in serious injury to a colleague or even death. The work has to be done and already one has been assembled.
The machines belong to William and Mark Economic Corporation, a mining company involved in the extraction of base metals in Zimbabwe with operations in Mberengwa, Mt Darwin and Odzi among other areas and specialises in the extraction of antimony, cassiterite, tantalite, niobium and beryllium mainly used in the manufacture of high friction resistance implements such as rockets, aerospace, automobiles, computers, oil and gas drilling equipment and telecommunications.

“These machines have to be assembled today and will go to the mines. They must start working because the minerals are in high demand on the global market.

Sure the base metals are not talked of in the same manner like gold, diamond and platinum, but they have a growing market.
“We are increasing our capacity after looking at the political and economic climate prevailing in Zimbabwe. With the global demand of minerals surging it is time for Zimbabwe mining companies to shine. Let those who choose to remain behind get lost forever,” the company’s executive chairman, Mr Wilson Muza, said.

He said his company had no second thoughts about increasing investment in its operations because Zimbabwe was heading for a mining boom.

“The move is a sign of confidence in the country’s indigenisation and empowerment laws and shows that we are here to stay. This is no mean investment and is part of more equipment to come as we seek to increase our operations and benefit from the existing economic and political climate.

Each of these three excavators costs US$220 000. We are importing more machinery from China and it is expected in the country in two months’ time.

“Given the inquiries we are getting, investors are flocking to try and enter into this lucrative mining sector. It is critical that when you get an opportunity to be involved in mining in Zimbabwe you don’t lose it. Those who are fighting against investing in Zimbabwe will be left out,” he said.

Following the successful hosting of the harmonised elections and United Nations World Tourism Organisation General Assembly, Zimbabwe has shown that it is a safe investment destination.

Add that to the abundance and value of Zimbabwe’s minerals, there is nothing to stop the country from a big say on the world market. It is encouraging that the peace that exists in the country comes in the wake of Government’s move to increase exploration work to determine the extent of Zimbabwe’s mineral wealth.

This should, however, be carried in a comprehensive manner to ensure that Zimbabweans get the correct value of their natural resources. The future of the sector is very promising that it is expected to generate nearly US$6 billion in revenue in the coming five years.

Mineral exploration is meant to determine commercial concentrations of mineral resources as a way of giving value.
As rightly put by President Mugabe during one of his addresses: “It must re-ignite that economic miracle. We need to explore new mineral deposits and with this mining must become the centrepiece of our development endeavours.”

As Zimbabwe works on the deposits in its major mines, the discovery of new sites is paramount if the country is to continue satisfying the world growing appetite for mineral resources.

Already confirmed as a nation with one of the world’s largest diamond reserves, second largest platinum reserves and over 40 exploitable minerals, a good climate and abundant tourist attraction centres, Zimbabwe is fast becoming the jewel of Africa.

Political analyst Mr Edward Tome said Government should ensure that it creates a conducive investment climate by removing unnecessary bottlenecks in approval of mining ventures.

He said any serious mining company will not think twice about investing in Zimbabwe because the country has a huge unexploited resource base.

“Zimbabwe has all the minerals needed by the world manufacturing industry and no one can take the country out of the radar that is why Britain’s quest to export a bilateral disagreement to the world no longer find takers. With cracks beginning to show in the EU over continued sanctions on Zimbabwe those who do not come to Zimbabwe now are lost and Belgium has seen that,” he said.

After losing on vast business opportunities in Zimbabwe for the past decade, Belgium and Germany are right in questioning London’s motives.

Mr Tome said news for the removal of ZMDC from the sanctions had opened the mining sector’s path to development and soon the world will notice.

In his inauguration speech President Mugabe set the tone saying the mining sector would be the centrepiece of our economic recovery and growth and should generate growth spurts across sectors, re-ignite that economic miracle.

He said the country has barely scratched its mineral worth hence the need to intensify the exploitation of existing deposits.
“More mineral deposits remain unknown, unexplored. We need to explore new deposits, developing new greenfield projects in the mining sector.

“Where we can, we can go it alone. Where we cannot do so, we seek partners on a 51/49 percent shareholding principle. Genuine partners should find this acceptable.

“We reject totally as skewed the economic principle which puts capital, technology or expertise before natural resources. It is a principle of imperialism, the source of un-      equal agreements which have been the bane of our ever exploited Africa,” President Mugabe said.

William and Mark Economic Corporation boss Mr Muza said: “The benefits outweigh losses and that is the whole essence of business. A serious investor has to take advantage of the environment before others have ventured into the same business. You do not need second thoughts when investing in Zimbabwe.

“That is what has pushed us to plough in the millions to equip our mines. The years of policy uncertainty associated with the inclusive Government are over and it’s time to make money.”

Former Zimbabwe Miners Federation chief executive and current Zimbabwe Artisanal and Small-Scale Miners Council president Mr Wellington Takavarasha said potential investors were flocking to Zimbabwe for mining opportunities and the trend was going to rise.

“Zimbabwe does not only have vast mineral resources, but has one of the best, if not best, mineral reserve and people are flocking into the country seeking investment opportunities in the sector.

“Our members are getting many inquiries from potential investors. The Mining Indaba set for the end of the month will clearly show the increased interest in Zimbabwe mining sector.

“With Government engaging an exploration company that is working with Zimbabwe Mining and Development Company to explore the country’s mining green belts the potential for country’s mining sector is great as new sites are opened. Lack of exploration had retarded the development of the sector,” Mr Takavarasha said.

He said other countries should not be dissuaded from investing in Zimbabwe by the sanctions saying the British and Americans were trying to increase investment in Zimbabwe through third parties.

Even the African Development Bank has already advised Zimbabwe to consolidate the gains made in the sector.
According to the Chamber of Mines, Zimbabwe witnessed a surge in earnings from three major minerals, that is, gold up by 19 percent, platinum production reached 4,5 tonnes in April while operations in Marange produced eight million carats last year and generating US$685 million inexports.