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Oliver Kazunga recently in Victoria Falls
FREDA Rebecca Mine executive director Toindepi Muganyi was on Thursday elected the new president of the Chamber of Mines of Zimbabwe during the chamber’s annual general meeting in Victoria Falls.

Muganyi, who was the first vice president of the chamber, takes over from Alex Mhembere, Zimplats chief executive officer.

The CMZ presidency would also comprise Bindura Nickel Mine executive director Batirayi Manhando and Mimosa Platinum Mines corporate affairs executive Elizabeth Nerwande, who were elected first and second vice presidents respectively.

Mhembere made the announcement while addressing delegates at their 76th annual conference that ended on Friday in Victoria Falls.

“I sincerely wish all the best and every success to the new chamber leadership. We’re particularly pleased to have a lady as a vice president of the chamber. I also want to express my appreciation for the support I received from all the members counsel, the executive and the secretariat during my tenure of office as the president of the chamber,” he said.

“Lastly but most importantly, I wish to acknowledge the ongoing co-operation and support that the chamber and its members continue to receive from the Ministry of Mines and Mining Development. The minister (Walter Chidhakwa) has consistently maintained his enthusiasm for the business of mining in our country and I know that his interest and approachability are appreciated by all members of the chamber.”

Mhembere told the delegates that this year’s conference was meant to build consensus on the kind of mining industry they aspired for and find conversion of critical aspects that drive the sector to desired levels.

He said Zimbabwe was a signatory to the African Mining Vision whose goal was to create a “transparent, equitable and optimal exploitation of Africa’s mineral resources to underpin broad based sustainable growth and socio-economic development.”

Mhembere added that within the context of the African Mining Vision, Zimbabwe needed to craft its own mining vision that was unique to the local mining sector, inspired by domestic values based on creating values and importantly sharing the benefits.

“Our conference comes at a time when the mining sector growth has significantly softened, and for the first time since 2009, the mining sector recorded negative growth rate around -2 percent in 2014. The sector continues to operate below capacity amidst a host of challenges, not restricted but including depressed metal prices, inadequate capital, high cost structure and suboptimal royalty, shortages and inconsistent supply of power.

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

He said total value of minerals fell from a peak of $2,2 billion in 2012 to $2 billion and $1,9 billion in 2013 and 2014 respectively.

Mhembere also said the share of mining to total exports fell from 57 percent in 2012 to 56 percent and 53 percent in 2013 and 2014 respectively.