By Shadreck Gurenje
President Mnangagwa has said government will continue fostering a conducive operating environment for investors.
Giving his keynote address at the launch of the Palm River Energy Metallurgical Special Economic Zone in Beitbridge, President Dr Emmerson Mnangagwa said government is dedicated to prioritising enhanced investments in exploration and most importantly value addition of minerals driving towards industry development and economic growth.
“Government will continue fostering a conducive operating environment for investors. We are dedicated to prioritising enhanced investments in exploration and most importantly value addition of minerals driving towards industry development and economic growth.
“In line with the Africa Mining Vision, mineral value addition ensures that our great motherland, Zimbabwe, derives maximum benefits from our abundant natural resource endowments.
“To this end, the promotion of revenue from exports; job creation; economic diversification; industrial development; reduced dependence on raw commodity prices; technological advancement; and improved local infrastructure development should be scaled up, ”said President Mnangagwa.
President Mnangagwa also reiterated that the mining sector plays a crucial role in fostering economic development.
“As you are aware, the mining sector plays a crucial role in fostering economic development. It is a major creator of both direct and indirect employment opportunities, which significantly impact local communities. Through investments by industry players, mining operations can improve infrastructure such as roads, schools, and healthcare facilities.
“ In our economy, the sector not only contributes through exports revenue and taxes, but also supports ancillary businesses of related downstream industries and services, further driving economic activity. In this regard, it is my expectation that the Palm River Energy Metallurgical Special Economic Zone project will play its part as a critical block for our nation’s industrialisation and modernisation.
“We look forward to this project helping to drive our national economy forward and unlocking unprecedented opportunities for employment, technological progress and social development, as we march towards the attainment of Vision 2030,”said President Mnangagwa.
President Mnangagwa also said upon completion the project targets the production of 2 million tons of chromium-based materials and one million tons of coke per year.
President Mnangagwa also commended the Zimbabwe Xintai Resources (Pvt) Co. Ltd, under the investment entity Xinganglian (Shanxi) Holding Group Co. Ltd, for their bold decision to invest into this metallurgical and energy hub.
“I applaud the fact that the project targets the production of 2 million tons of chromium-based materials and one million tons of coke per year. While the growing demand for minerals and metals provides economic opportunities, significant challenges are likely to emerge if the climate-driven clean energy transition is not managed responsibly and sustainably. “The planned construction of a 1 200 MW green power and integrated power generation plant by Zimbabwe Xintai Resources (Pvt) Co. Ltd is a welcome initiative.
“The first phase has already been completed, with a 100 MW thermal power generation plant currently being commissioned, which should produce 50 MW by the end of March.
“The coal wash plant, with a 160 000 tons per year capacity, has been completed as well as the Chrome smelting plant,”said President Mnangagwa.
As you are aware, the mining sector plays a crucial role in fostering economic development. It is a major creator of both direct and indirect employment opportunities, which significantly impact local communities. Through investments by industry players, mining operations can improve infrastructure such as roads, schools, and healthcare facilities. In our economy, the sector not only contributes through exports revenue and taxes, but also supports ancillary 3 businesses of related downstream industries and services, further driving economic activity. In this regard, it is my expectation that the Palm River Energy Metallurgical Special Economic Zone project will play its part as a critical block for our nation’s industrialisation and modernisation. We look forward to this project helping to drive our national economy forward and unlocking unprecedented opportunities for employment, technological progress and social development, as we march towards the attainment of Vision 2030. Ladies and Gentlemen. I commend the Zimbabwe Xintai Resources (Pvt) Co. Ltd, under the investment entity Xinganglian (Shanxi) Holding Group Co. Ltd, for their bold decision to invest US$3.6 billion into this metallurgical and energy hub. Well done. 4 At the heart of this Special Economic Zone lies the integration of energy and metallurgy, two critical sectors that have the potential to redefine our industrial landscape. These integrated systems and processes highlight the drive towards issues of sustainable mining, low greenhouse gas emissions, low waste production and energy self-sufficiency through recycling of the resultant waste. I applaud the fact that the project targets the production of 2 million tons of chromium-based materials and one million tons of coke per year. While the growing demand for minerals and metals provides economic opportunities, significant challenges are likely to emerge if the climate-driven clean energy transition is not managed responsibly and sustainably. The planned construction of a 1 200 MW green power and integrated power generation plant by Zimbabwe Xintai Resources (Pvt) Co. Ltd is a welcome initiative. 5 The first phase has already been completed, with a 100 MW thermal power generation plant currently being commissioned, which should produce 50 MW by the end of March. The coal wash plant, with a 160 000 tons per year capacity, has been completed as well as the Chrome smelting plant. Ladies and Gentlemen; In order for mining houses to attain the social licence to operate, they should engage in practices that actively manage and mitigate the social and environmental impacts of their operations on local communities and the environment. This is through active engagement with local communities to understand their needs and concerns, as well as incorporating their input into project planning and decision-making.