By Tendai Chisiri
President Emmerson Mnangagwa commended the signing of Memorandum of Understanding (MoU) between Caledonia Mining Corporation and the Government of Zimbabwe at the State House on Monday.
“This ceremony is a milestone achievement towards our quest to attain the 12 billion USD mining sector by 2023”, he said.
“Recently I am informed that Caledonia Mining Corporation has investment interests in government’s mining projects”. “Such expression of interests reflects private sector’s determination to explore opportunities and partner with my administration”, he added.
The mining sector contributes to the economic development of Zimbabwe with about 60% of export receipts and more than 50% foreign direct investment.
Caledonia Mining Corporation chairman Steve Curtis was delighted by the government support in achieving their targets.
“I very much look forward to continue working with the Ministry of Mines and all other essential structures like the Reserve Bank that
we work with on a daily basis”, he said. Curtis also looked forward to a long and mutual benefit relationship.
Minister of Mines and Mining Development Winston Chitando said the MoU entails Government working with Caledonia Mining Corporation to achieve the production of 18 tonnes by 2030.
“The MoU amongst other provisions, “subject to fulfilment of terms contemplated herein, Caledonia hereby declares and affirms its intention to increase its gold out put in excess of the set target of 500 000 ounces by the year 2030, for that happen the Ministry will continue to work with Caledonia to achieve taxes and intended targets by the year 2030”, he said.
The mining sector has huge potential to support down stream industry and move the economy up the value chain.
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