The Zimbabwean government has committed ZD$1.5 billion for exploration work in 2023 using satellite imagery and drone aerial photography.
Finance Minister Mthuli Ncube said in his 2023 budget message that the government has awarded 20 exploration orders to several companies this year.
“Mineral exploration is key to preparing feasibility studies, improving resource potential information and valuation to facilitate marketing, and accounting for revenue,” he said.
Among other things, the minister said that the mining sector is expected to grow by 10% this year, compared to an average annual forecast of 9.5%.
This is largely driven by expected increases in gold, platinum group metals, chromium, nickel, diamonds and coal production, underpinned by record high global commodity prices and increased investment in the sector, he said.
Ncube also said that the mining sector is expected to grow by 10.4% in 2023, supported by expected favorable global prices for minerals, as well as increased investment, especially in exploration, mining and mechanization.