Published: 12 September 2013

NEW Mines and Mining Development Minister Walter Chidhakwa yesterday said mining contributes significantly to the economic growth of Zimbabwe in a number of ways.

Speaking shortly after being sworn in, Chidhakwa said: "Mining contributes significantly to the economic growth of Zimbabwe from the point of view of investment generation in mining. Mining is nothing other than promoting investment into the sector. There is need for greater inflows of foreign investment.

"There is need to promote value addition to the greater benefit of the local economy. There also is need to create employment opportunities and increase foreign exchange inflows to feed into the balance of payment support," the new minister said.

However, Minister Chidhakwa said it was unfortunate that Zimbabwe and Africa at large had suffered the ignominy of foreign ownership that in most cases saw the repatriation of export proceeds for the benefit of foreign countries.

To that end, he said it would be critical to continue to broaden international economic relations and partnerships to attract fresh investment into the mining sector.

Former Mines and Mining Development Minister Dr Obert Mpofu, now in charge of Transport Communications and Infrastructure Development, said Government priority would be attending to issues surrounding transport, roads, airlines, poor infrastructure as well as the people's aspirations.
- herald

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