WASHINGTON DC —
Players in the key mining sector on Wednesday opened a three-day mining indaba in Harare focusing on mining, infrastructure and finance, which are crucial for the success of any economy that is driven by the mining sector.
The conference this year has a regional focus, with prominent speakers and stakeholders from Southern African Development Community (SADC) and the rest of Africa.
The event has attracted top national and international mining decision makers from exploration and mining companies, fund managers and private equity funds from Africa, USA, Europe, Australia and around the globe. Mining is the country’s major export earner but it has recently been taking a hit.
Industrial-grade diamonds sales in Zimbabwe sharply declined to $188 million in 2013 from nearly $658 million in the previous year due to weakening demand from the United Arab Emirates, China and Belgium as mining companies in Marange scaled down operations, according to trade data.
The country’s gold output fell 26 percent to 6 tones during the January-July period this year. This is attributed to power outages, the unclear black empowerment law and lack of capital.
Kimberly Process Certification focal point member in Zimbabwe, Shamiso Mtisi, told VOA Studio 7 he hopes operations will improve in the diamond sector as the ministry is introducing a raft of changes.