Miners hail 2019 Budget
STAKEHOLDERS in the mining sector have hailed the 2019 Budget Statement, which is seeking to consolidate the positive contributions of mining in terms of GDP, foreign currency generation, employment creation and other benefits from value chains.
The sector was allocated $15,4 million in the 2019 Budget presented by Minister of Finance and Economic Development, Professor Mthuli Ncube in Harare last week.
Zimbabwe Miners Federation president Ms Henrietta Rushwaya hailed the Budget, saying it touches on main issues that have been affecting the sector and focusing more on production, which 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 to our call,” she said.
“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 on 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.”
Ms Rushwaya said the issuance of gold buying permits by Government will go a long way in plugging leakages in the marketing of gold and doing away with illegal buyers.
She said Government should go on to implement the Budget fully and properly to ensure maximum production by the sector.
Young Miners Federation chairperson Mr Payne Kupfuwa said the Budget managed to address a lot of young miner’s concerns.
“The mining Loan Fund goes a long way in addressing the concerns of us youths as we lacked capital in the sector,” he said.
“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.”
Mr Kupfuwa hailed Government on taking measures to ensure there is transparency in the mining sector.
He said the implementation stage was crucial for Government.
“Government should be cautious on the implementation of the Budget now, as it is the most important stage,” said Mr Kupfuwa.
In his presentation, Prof Ncube said the mining sector was expected to play a critical role in the realisation of the vision of an upper middle-income economy by 2030 through the value addition of the mineral resources.
In 2018 alone, foreign currency earnings from mining was US$2,3 billion for the first nine months and are expected to reach US$2,9 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,” said Prof Ncube.