Mining was expected to be the bedrock on which Zimbabwe built its recovery. The early months of President Emmerson Mnangagwa’s leadership saw strong international interest in Zimbabwe’s largely untapped resources.
A mining investment conference held in Harare in February 2018 was oversubscribed, while a survey measuring local executives’ confidence turned positive for the first time in years.
However, foreign exchange shortages, crippling power cuts, currency policies and the slow pace of political reforms have tempered many of those hopes.
Zimbabwe’s Ministry of Finance expected the mining sector to fall by as much as 12.3% in 2019, with a recovery of 4.7% projected in 2020.
Despite concern over the sector, 2020 will be a key year for many of the companies operating in Zimbabwean mining, with several investment projects expected to move into development stages during the year.
This report details the main factors and companies to watch in Zimbabwean mining in 2020.
2020: Companies to watch
While the outlook remains largely pessimistic for Zimbabwean mines, there are plans for investment among companies that have invested in Zimbabwe over the past two years, and those that already had a long-term presence in the country.
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