Zimbabwe’s Ministry of Mines Faces Budget Crisis

by Oluwatosin Alabi

Zimbabwe’s Ministry of Mines and Mining Development’s operations are significantly hampered this year due to a constrained budget amid a challenging economic environment, the Parliamentary Portfolio Committee reported.

The Ministry, initially allocated ZWL12 billion, has seen its budget swell to ZWL27 billion as of September 2023. Despite the increase, there remains a substantial shortfall. For the upcoming fiscal year, the Ministry requested ZWL696 billion but is set to receive only ZWL94 billion from the Treasury.

During a recent pre-budget seminar themed ‘Consolidating Economic Transformation,’ Committee Chairperson Remigious Matangira addressed the funding gaps. He urged the Treasury to provide sufficient funds, as the Ministry now depends on unallocated reserves.

Matangira pointed out that critical activities, including mine inspections and audits, are on hold. He noted a significant backlog in rapid clearance and a delay in the capacity building of the Metallurgical Laboratory. The lack of essential resources such as operational vehicles and adequate tools of trade further complicates the Ministry’s functions.

Stakeholders have highlighted that the funding for the Gemology Centre and the Mining Promotion Corporation’s exploration program is insufficient.

Looking to 2024, Matangira emphasized the need to curb mineral losses. This entails equipping the Minerals Flora and Fauna Unit and enhancing the mining loan fund to support small-scale miners.

The Ministry aims to upgrade provincial business premises and secure land for new mining offices. Safe mining practices and mineral accountability programs are also on the agenda.

Matangira concluded that the proposed 2024 budget is grossly inadequate, missing the Ministry’s requirement by ZWL601 billion. He recommended that the Treasury should allocate an additional ZWL300 billion for crucial areas, including the Mining Cadastre Information Management System, strengthening the Metallurgical Department, reducing mineral leakages, supporting the Mining Industry Loan Fund, and acquiring provincial office spaces.

You may also like

white logo with motto

The Zimbabwe Advocate is more than just a news outlet. We are a movement, a symbol of resistance against misinformation.

Latest News

© 2024 The Zimbabwe Advocate. All Rights Reserved.