ZMF gets strategic mining partnerships – The Herald

The Herald

Ishemunyoro Chingwere Business Reporter
The Zimbabwe Miners Federation (ZMF) has signed three strategic partnerships aimed at capacitating small scale miners in their quest to ramp up production in line with the Government’s vision of growing mining to a US$12 billion industry by 2023.

The partnership deals saw the small miners body signing agreements with the country’s largest commercial bank, the Commercial Bank of Zimbabwe (CBZ), Ali Japan786 – a company that is in the automobile industry the Central Mechanical Engineering Department (CMED).

CBZ are coming on board as a banking partner have committed to cover the funding gap that has for long dogged the small scale mining sector.

The Ali Japan786 deal will see small scale miners getting access to motor vehicles mobile mining machinery on flexible payment terms.

The signing of the deal immediately saw the Japanese investor committing to ship in at least 200 vehicles for distribution to the small scale miners these will be delivered before the end of this year.

With power challenges identified as one of the biggest challenges bedevilling the sector, CMED are coming on board as a partner in the provision of fuel on flexible terms that will ensure miners can get on with production with minimum disruptions.

Mines Mining Development Minister Winston Chito who is also ZMF patron graced the signing ceremony on Friday said it was a step in the right direction towards addressing some of the biggest
Source…