Online Reporter
Business Reporter
MINERAL Marketing Corporation of Zimbabwe (MMCZ) is working on measures to plug mineral leakages and enhance gemstone value addition and beneficiation to grow export revenue.
This is a strategic plan that aligns with the broader objectives of the National Development Strategy 1 (NDS1), which emphasises the importance of mineral beneficiation in bolstering the local economy.
Notably, mining is Zimbabwe’s largest export earner, accounting for more than 90 percent of shipments from the country, led by gold, platinum and chrome.
The corporation this year forged a partnership with the National University of Science and Technology (NUST) to deepen the authorities’ understanding of Zimbabwe’s lithium resources.
This collaboration is a key step towards the value addition of lithium and facilitating mineral resource accounting and management, essential for informed decision-making in the mining sector.
In terms of capacity-building initiatives that are value addition-related, MMCZ procured advanced gemstone cutting and polishing equipment for the Zimbabwe School of Mines. This initiative not only promotes value addition but also aims to create job opportunities within the mining sector.
In addition, MMCZ has invested in the modernisation of local Government laboratories to improve assay and characterisation processes, further strengthening the integrity of Zimbabwe’s mineral exports.
As part of its technological advancement, MMCZ also funded the capacitation of a metallurgical laboratory after it acquired inductively coupled plasma optical emission spectroscopy (ICP-OES) equipment for the Department of Metallurgy.
ICP-OES is capable of measuring the concentration of various elements within a sample and can be applied across a range of materials, including liquids and solids.
This is expected to aid Government efforts in reducing mineral leakages that arise from inaccurate declarations regarding mineral exports. Installation of the equipment and training are expected to be completed before the end of this year.
To optimise its operational efficiency, MMCZ also adopted the enterprise resource planning (ERP) system Minerva, expected to integrate with various agencies, including the Reserve Bank of Zimbabwe (RBZ) and the Zimbabwe Revenue Authority (Zimra).
ERP is designed specifically for mining companies and is a comprehensive management tool that integrates core business processes into one unified system to help mining businesses manage their financial data, procurement, asset management and supply chain operations seamlessly.
The integration intends to enhance the tracking of mineral export consignments, thereby increasing transparency and accountability in the industry.
“Of course, going forward, we have plans to enhance research and development, upscale efforts to account for mineral resources and pursue development of new markets in uncharted territories. We have made significant strides in research and development, export market development, curbing mineral leakages, as well as value addition and beneficiation,” said MMCZ acting general manager Dr Nomusa Moyo.
“Our strategic plan for 2024 was aligned with the objectives of the National Development Strategy 1, particularly in promoting value addition and beneficiation, accounting for mineral resources and increasing revenue.”
In its commitment to combat mineral leakages, MMCZ has established a joint task force that includes key stakeholders such as the Zimbabwe Republic Police’s Minerals Flora and Fauna Unit, Zimra, the RBZ and Fidelity Gold Refinery.
The collaborative effort focuses on enhancing inter-agency cooperation to effectively mitigate mineral leakages and improve the overall ease of doing business in Zimbabwe. The collective efforts of the task force, aimed at curtailing mineral leakages, have resulted in several arrests tied to corruption, with cases currently being processed through the courts, highlighting a commitment to governance and accountability within the sector.
Regarding export market development, MMCZ identified and developed new market opportunities for Zimbabwean mineral products in several key international destinations, including Australia, China, Colombia, Burundi and India.
In the first 11 months of 2024, the corporation reported cumulative mineral sales of 3,9 million tonnes, valued at US$2,6 billion.
This marks a decrease compared to the previous year, where 3,2 million tonnes were sold for a total value of US$3 billion, attributable to the decline in both value and volume posed by depressed global mineral prices during the review period.
Platinum group metals (PGMs) and lithium continue to dominate Zimbabwe’s mineral exports after generating US$1,3 billion in the 11 months to November 2024.
Lithium exports were the second largest contributor, at US$457 million, while high carbon ferrochrome fetched US$311, 5 million during the same period.
These figures underscore the critical role that these minerals play in the Zimbabwean economy and the importance of continued efforts to enhance value addition and minimise export leakages.
