No need to panic, we have been at war for two decades but we are still standing- Mnangagwa

My recent meeting with representatives of World Diamond Council in Brussels showed a great appetite for our parcel.

Soon our Zimbabwe Consolidated Diamond Company will be in the market with several parcels.

All these good auguries in the mining sector make our US$12 billion target realistic and achievable by 2023, if not much earlier.

Well before the present conflict in Eastern Europe, we began reforming our mining sector, and all institutions which serve it.

It was a stroke of foresight, and one which is serving us quite well in these turbulent times.

The US$12 billion mining economy has thus become much more than an internal goal; it now is our veritable formulae for stabilising our economy against exogenous shocks which the unforeseen conflict in Eastern Europe has wrought upon us and upon the world.

What we lose on the swings of galloping fuel and cereal prices, we should be able gain on the roundabouts of windfalls from the mining sector.

It is important that our unsettled and panicky business leaders look at matters from that positive angle.

I am happy that our platinum sector has raised production, and is expanding investments. So, too, is our gold sector which continues to benefit from reforms we instituted.

A lithium policy is being worked on, with actors already recording progress on the ground.

The mining sector has a lot to do to cushion our economy against the ensuing turbulence.

We are looking at the whole duty framework to cushion our economy from shocks and pressures from galloping fuel prices.

There is no need for panic.

I have already directed the Ministry of Energy and Energy Development to review and reduce duty and surcharges on fuel, so the pump prices of petrol and diesel remain manageable.

We need stability in the fuel market so we minimise imported inflation for price stability in the economy.

Cabinet will be seized with this issue in days and weeks ahead.

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