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Michael Magoronga, Midlands Correspondent
STAKEHOLDERS in the mining sector have hailed the 2019 budget whose emphasis is on consolidating the positive contributions of mining to foreign currency generation and employment creation along the value chain.

The sector was allocated $15,4 million in the 2019 budget presented by Minister of Finance and Economic Development, Professor Mthuli Ncube, last Thursday.

In his presentation, Prof Ncube said the mining sector was expected to play a critical role in the realisation of the upper middle income economy vision by 2030 through the value addition of the mineral resources.

In 2018 alone, foreign currency earnings from mining were US$2,3 billion for the first nine months and are expected to reach US3 billion by year end.

“The thrust is to add value and beneficiate more through processing and refining of minerals, and link processed and refined minerals to the manufacturing sector in order to industrialise,” said Prof Ncube in his budget presentation.

He said amendments to the Mines and Minerals Bill will be expedited to ensure that the bill is passed into law in time.

“The amendments seek to align the old Act to the current developments and the international standards and norms that attract investment. The Government will therefore expedite the finalisation of the outstanding work and ensure that the bill is passed into law,” said Prof Ncube.

He said resuscitation of closed mines was also key to economic recovery as a number of investors had shown interest in re-opening some of the closed mines, particularly gold.

Without the criminalisation of small-scale and artisanal miners, Prof Ncube said, the 2019 budget embraces interventions to reduce environmental, social and health impact that arise from the sector.

Zimbabwe Miners Federation President Ms Henrietta Rushwaya hailed the budget saying it touches on critical issues that have been affecting the sector and focusing more on production and that has been the industry’s thrust.

“We have been making numerous requests to Government regarding claims that are being held for speculative purposes and we are glad Government has taken heed of our call.

“We also respect the fact that Government has realised how important the Mines and Minerals Bill is to the sector and hence they have decided to expedite its amendment.

“Allocation of funding for research, development and innovation is a positive move especially given that our sector lacks information on resource definition, which results in loss of potential revenue,” said Ms Rushwaya.

She said the issuance of gold buying permits by Government will go a long way in plugging leakages in the marketing of gold and do away with illegal buyers.

Ms Rushwaya, however, said the Government should implement the budget fully and properly ensure maximum production by the sector.

Young Miners Federation chairperson Mr Payne Kupfuwa said the budget goes a long way in addressing the concerns of young miners.

“The Mining Loan Fund goes a long way in addressing the concerns of us youths as we lacked capital in the sector.

“Value addition and beneficiation, which has been our main thrust, has also been addressed. We should have value addition and beneficiation plans that are clear and that benefit everyone from top to bottom and in line with the devolution idea,” he said.

Mr Kupfuwa also hailed Government for taking measures to ensure there is transparency in the mining sector. He, however, said the implementation stage was crucial.