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Oliver Kazunga, Senior Business Reporter
PRESIDENT Mnangagwa would soon commission the Blanket Gold Mine central shaft project in Gwanda, Matabeleland South, which is one of the flagship mining investment projects towards achievement of a US$12 billion mining economy by 2023.

Mines and Mining Development Minister Winston Chitando revealed this yesterday during a tour of the Caledonia Mining Corporation-owned mine and said his trip was a precursor to President Mnangagwa’s visit.

The giant mining firm recently operationalised its new Central Shaft after pouring in US$67 million into the project which it started working on in 2015.

“These are the fruits of the ‘Zimbabwe is open for business’ mantra. Some people have often said that the US$12 billion is not going to be achieved, its being achieved. It’s a process and that process encompasses growth in various sectors of the mining industry,” he said.

Minister Chitando said the development at Blanket Mine will contribute significantly to the US$12 billion mining revenue by 2023.

Although Caledonia production took a slight slump to 13 197oz in the first quarter of this year, the company remains on track to achieve its full year production guidance of between 61 000oz and 67 000oz. Last month, the mining firm posted strong recovery of 5 470oz. “It’s on public record that this mine is targeting to produce more than two tonnes of gold this year and it’s a major contributor to the economy,” said Minister Chitando.

He said he was very impressed by the development at the mine and his visit was part of the preparations ahead of the coming of the President Cde Mnangagwa to officially commission the shaft.

Under the US$12 billion mining roadmap, gold is expected to contribute US$4 billion, platinum US$3 billion while chrome, iron, steel, diamonds and coal will contribute US$1 billion. Lithium is expected to contribute US$500 million while other minerals will contribute US$1,5 billion.

“Just coming to the gold sector, His Excellency commissioned the re-opening of Shamva Mine, which is targeted to produce more than four tonnes per annum. We have Eureka, which should be commissioned in the next two months.

“We also have this mine here (Blanket Mine new Central Shaft). If you look at just these three mines on their own, they will be doing close to 10 tonnes about 10 percent of the target of 100 tonnes per annum,” said Minister Chitando.

He said the developments are the fruits of ‘Zimbabwe is open for business’ mantra.”

Zimbabwe has set sights on attaining an upper middle-income economy by 2030.

“We have the 2030 Vision, which the President has set for the country and that will be achieved through increased production by various sectors of the economy including mines,” said Minister Chitando. — @okazunga.