The Zimbabwean government has allocated Z$ 1.5 billion for 2023 exploration activities, using satellite imagery and drone aerial surveys.
Finance minister Mthuli Ncube said in his 2023 budget statement that the government had issued 20 exploration prospecting orders (EPOs) to several companies this year.
“Mineral exploration is key to pave way for feasibility studies, improve information on mineral potential and valuation for ease of marketing, as well as accounting for revenues,” he said.
Meanwhile, the minister said the mining sector is expected to grow by 10% this year, from the mid-year projection of 9.5%.
This, he said, is largely driven by expected increased output in gold, platinum group metals, chrome, nickel, diamond and coal underpinned by record-high international commodity prices and increased investments in the sector.
Ncube also said that the mining sector is expected to grow by 10.4% in 2023, underpinned by anticipated favourable international mineral prices, as well as an increase in investments, especially in exploration, mine development and mechanisation.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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