• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Eastern and Southern Africa Regional Business Councils on the AfCFTA Approved… rhetoric to action in carrying out the Trade Deal
    Zimbabwe’s President Emmerson Mnangagwa’s Government is hovered to Establish a Currency Board Subsidizing all Units of Domestic Currency in Circulation
    New Innovation Emerging in Africa- Report
    Ghana to Invest into Yam Production
    Africa Cloud Ecosystem Project: Phase one Launched
    Reserve Bank of Zimbabwe has Initiated Gold Coins to be Sold to the Public in a bid to Repress Uncontrolled Inflation
    Dangote Industries Completes Issuance of $452 Million Bond
    Over $1 billion Approved by the African Development Bank to Fast Track Food Production Plan
    Travel and Tourism Industry in Nigeria to Grow Exponentially Over the Next Decade, Report
    Foundation Improves Agricultural Productivity in West African Sub-Region

    $2.4 Billion Mineral Exports rose by 27% in 2020, the Minerals and Marketing Authority of Zimbabwe divulged

    Posted On 20 Jan 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    Photo Credit: Caledonia Mining Corporation

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The Zimbabwe mineral exports, ignoring gold and silver, in 2020 spurted by 27%, developing the country $2.4 billion, according to the Minerals and Marketing Authority of Zimbabwe (MMCZ).

    “Up to December 2020, we managed to surpass target; we had a total sales value of US$2,4 billion against a budget of US$1,86 billion,” MMCZ general manager said in an interview.

    “We have done relatively well. We are 29% above budget for this year and compared to 2019 we are 27% better off.”

    This puts Zimbabwe on course of attaining a $12 billion mining thrift in the following two years, told Muzenda. The mining sector is Zimbabwe’s hugest foreign dough earner, accounting for 70% of the nation’s export stubs. In two years heretofore, the administration of Zimbabwe initiated a roadmap to develop the mining sector to $12
    billion by 2023 through the leverage on the nation’s various mineral wealth. The mining roadmap, also perceived as “Strategic Road to Achievement of $12 billion by 2023” streaks gold earnings at $4 billion, platinum group metals at $3 billion, chrome, iron, steel diamonds and at $1 billion, lithium at $500 million, while additional minerals are
    predicted to allot $1.5 billion.

    The Zimbabwe administration, in coalition with foreign investors, has enhanced footprints in stimulating the mining industry with over $1billion anticipated to be subsidized in prevailing and recent mines. The administration clenches 65% in Kuvimba Mining House – a corporation it together retains with foreign investors. Kuvimba already has dividends in mining investments, including gold, chrome, nickel, gemstone, platinum group metals (PGMs) and chrome.

    It entirely regulates gold mines Freda Rebecca and Shamva. It has a 85% interest in Jena Gold Mine, 74 percent in Bindura Nickel Corporation and 47,8 percent in a multibillion-dollar platinum project, Great Dyke Investments. The group is reportedly pondering buying ZimAlloys and Sandawana Mine.

    Professor Mthuli Ncube – Finance and Economic Development Minister previously asserted the huger function being inferred by the Government, heeding the institution of Kuvimba Mining House was to assure that the country achieve the $12 billion target. A number of private investments are also in the channel in coal, diamonds, lithium,
    platinum and chrome sectors, which would help the government fulfill the target.

    Muzenda told, the possibilities for 2021 “look even brighter” as the nation expand importance to its minerals. “This year, we will continue to focus on value addition of all products,” announced Muzenda. “We also want to see numbers going up on gemstones; we want to see people buying value from their gemstones,” he meant.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    President John Magufuli to Venture on gigantic Projects in Kagera District of Tanzania

    Next Story

    Ecobank Transnational Incorporated Chief Executive Officer asserted…the PanAfrican Group is fostering expenditures across Africa since the enactment of the African Continental Free Trade Area Agreement open

    10 Comments

    1. Patrick January 20, 2021 at 3:37 am Reply

      Thank you for the newsletters. Love it. Nairobi Kenya. Patrick

      • New Africa Business News, Staff Correspondent January 20, 2021 at 3:42 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. John January 20, 2021 at 3:41 am Reply

      Good job, Zimbabwe and I hope you did sell these natural resources, with a great price, not a give away price. Lilongwe Malawi. John

      • New Africa Business News, Staff Correspondent January 20, 2021 at 3:42 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Folade January 20, 2021 at 3:46 am Reply

      Export increased by 27% but the key is price. Did Zimbabwe made good price? Thank you for the report. Lagos Nigeria. Folade

      • New Africa Business News, Staff Correspondent January 20, 2021 at 3:47 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Daniel January 20, 2021 at 3:49 am Reply

      I like to thank you for the daily newsletters. Fan of NABN. Berlin Germany. Daniel

      • New Africa Business News, Staff Correspondent January 20, 2021 at 3:50 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Rudo January 20, 2021 at 3:53 am Reply

      Thank you for covering our great Country. Zimbabwe, the current government is doing great job. Harare Zimbabwe. Rudo

      • New Africa Business News, Staff Correspondent January 20, 2021 at 3:54 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Eastern and Southern Africa Regional Business Councils on the AfCFTA Approved… rhetoric to action in carrying out the Trade Deal

    Posted On 16 Aug 2022

    Zimbabwe’s President Emmerson Mnangagwa’s Government is hovered to Establish a Currency Board Subsidizing all Units of Domestic Currency in Circulation

    Posted On 14 Aug 2022

    New Innovation Emerging in Africa- Report

    Posted On 12 Aug 2022

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Facebook

    Latest Posts

    Eastern and Southern Africa Regional Business Councils on the AfCFTA Approved… rhetoric to action in carrying out the Trade Deal

    Zimbabwe’s President Emmerson Mnangagwa’s Government is hovered to Establish a Currency Board Subsidizing all Units of Domestic Currency in Circulation

    New Innovation Emerging in Africa- Report

    Recent Posts

    • Eastern and Southern Africa Regional Business Councils on the AfCFTA Approved… rhetoric to action in carrying out the Trade Deal
    • Zimbabwe’s President Emmerson Mnangagwa’s Government is hovered to Establish a Currency Board Subsidizing all Units of Domestic Currency in Circulation
    • New Innovation Emerging in Africa- Report
    • Ghana to Invest into Yam Production
    • Africa Cloud Ecosystem Project: Phase one Launched

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.