By 
By Ross Moyo
Zimbabwe Vice President retired General Dr. Constantine Guvheya Nyikadzino Dominic Chiwenga has fired warning shots stating Zimbabwe is “open for business, not for extraction.”
The revered retired General was speaking at the recent Mine Entra held in Bulawayo where he represented his boss, President Dr Emmerson Dambudzo Mnangagwa’ and read his Principal’s speech at the City of Kings Mine Entra speaking Mnangagwa’s language to enforce mechanisms that fight corruption pushing
Mineral Processing and beneficiation instead.
Speaking from President Mnangagwa’s speech, Vice President Constantino Chiwenga told mining executives in the country’s second-biggest city, that Zimbabwe remains
“open for business, not for extraction.” He said corruption and illicit “leakages” were “cancers,” and that mining must drive industrialization and create jobs.
“To the processors and off takers, the era of raw mineral exports must give way to beneficiation and value addition,” Chiwenga said. “Government will implement strict regulations and oversight mechanisms to ensure that corruption within the mining sector is effectively addressed and eradicated.”
With Resource nationalism strengthening across Africa as governments seek a bigger share of the revenue and profits from resources mined by foreign companies, Mining contributes 70% of Zimbabwe’s export earnings through shipments of gold, platinum, lithium and chrome.
Treasury however loses millions of dollars in tax and royalty revenues from the smuggling of gold and other minerals. Most of Zimbabwe’s gold is produced by small-scale miners, who at times get paid late by the state’s sole authorized buyer, Mutapa Investment Fund State Entity, Fidelity Gold Refinery, pushing some to use other channels.
Making the bulk of Zimbabwe’s gdp, Mining contributes 70% of Zimbabwe’s export earnings through shipments of gold, platinum, lithium and chrome.
The Southern African nation pledged to crack down on illicit commodities trading and introduce rules to encourage downstream processing, as the nation seeks a greater share of the benefits from its natural resources.
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