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February 2011
2011-02-05

The economic importance of the mining industry is highlighted...


Zimbabwe's Vast Mineral Wealth

A report taken from The Week in Mining, written by David Hargreaves, published on 5th February 2011, highlights the economic importance of the mining industry. Based on actual figures of production from Zimbabwe’s Ministry of Mines, past outputs and resource geology, show that mining expansion could generate vast revenues out to 2020 and beyond.

Mineral

2010 $M

(Estimate)

%

2015 $M

(Forecast)

%

2020+ $M

(Forecast)

%
Gold (1) 336 25% 640 19% 3,200 34%
Nickel 156 11% 240 7% 240 2%
Coal (2) 170 14% 300 9% 2,000 21%
Chrome 45 3% 70 2% 100 1%
Platinum 450 33% 900 27% 2,700 28%
Diamonds 100 7% 1,000 30% 1,000 10%
Others 100 7% 200 6% 300 4%
Total 1,357 100% 3,350 100% 9,450 100%

 

Source: Zimbabwe Ministry of Mines and D Hargreaves

1 Gold The known geological occurrences of gold in Zimbabwe are not dissimilar to those of Western Australia, now a prolific producing area. An eventual target of 100 tonnes per year is not unrealistic.
2 Coal This sector expansion would affect neither the regional nor global market but would doubly benefit the country by self sufficiency in energy as well as export revenues.

David Hargreaves is a Chartered Mining Engineer, Fellow of the Geological Society and the Institute of Mining, Minerals and Materials, and a Member of the Royal Institution. He was Head of Research at James Capel, London.

Mr. Hargreaves is a representative to the UK’s House of Commons Select Committee on Strategically Important Metals.