Minister: Zimbabwe Diamond Mining to Expand in 2012

Zimbabwe’s Mines and Mineral Development Minister announced last week that the southern African country’s diamond industry has been steadily growing for the last two years and that it is projected to continue to grow significantly in the coming year, boosting the national economy as a whole, according to Mining Weekly.

diamondMinister Obert Mpofu told a Chamber of Mines meeting in Harare that despite having to confront obstacles such as energy shortages, insufficient funding and out-of-date equipment, Zimbabwe’s diamond mining industry would continue to show gains. The mining industry as a whole was expected to grow by 15.8% in 2012, mineral exports would grow by 13.3% this year, and diamond mining would grow by 3.3%, Mpofu said.

The minister noted that Zimbabwe’s that two years ago, mineral exports grew by 138%, generating $1.6 billion, and that last year exports grew by 39%, generating $2.6 billion, Mining Weekly reported.

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