HARARE – The mining in- dustry is one of the major economic mainstays to an- chor the country towards an upper middle-income society by 2030.Zim mining sector seeks to maintain profitability According to a recent sur- vey by the Chamber of Mines of Zimbabwe (CoMZ), 52 percent of the respondents project that their businesses’ profitability would improve next year.“Mining executives are confident about the prof- itability prospects of their businesses in 2022, albeit lower than 2021 citing oper- ating costs, which they an- ticipate to increase,” said the chamber of mines.A total of 28 percent of the respondents from the recent survey conducted across the country project that profit- ability prospects would re- main the same as this year while 20 percent predict that the situation will worsen next year.Major cost drivers iden- tified by CoMZ were large- ly to do with procurement, labour, and electricity. “Among other costs were amortisation, external contractors, and Statuto- […]
Zim mining sector seeks to maintain profitability
