Zimbabwe’s mining sector has generated US $1.1Bn in the first seven months of 2019. This is quite a leap from the projected target of US $1.2Bn, according to the Minerals Marketing Corporation of Zimbabwe (MMCZ).
MMCZ, which falls under the Ministry of Mines and Mining Development, is an exclusive agent for marketing and selling of minerals produced in Zimbabwe except silver and gold. The corporation’s general manager Tongai Muzenda, said mineral earnings for the period under review slightly missed target due to a number of challenges cripppling the mining sector.
According to an interview released by the local media, Muzenda said that the total sales for the period January 2019 to July 31 were US $1.1Bn compared to US $910m during the comparable period in 2018.
Muzenda further added that the mineral earnings for the period January to July 2019 were off MMCZ’s target of US $1.27Bn and the biggest challenge being the prevailing power cuts facing the mining sector and the country at large, as power cuts deterred production.