Mnangagwa calls for sustainable mining

PRESIDENT Emmerson Mnangagwa says miners should strive to build sustainable mining operations with environmental protection strategies in mind.

This follows after there has been an outcry in Zimbabwe that recent mining operations have been carried out without taking care of the environment. The President told an annual mining conference that he has noticed that several new miners have dug up holes which have been left without rehabilitation.

“The importance of the sustainable extraction of minerals in a manner that does not negatively impact communities and ecosystems cannot be overemphasised. It is my expectation that mining houses now begin to green their operations through responsible mining toward low carbon emissions and a sustainable mining sector,” Mnangagwa said as he officially opened the conference.

President Emmerson Mnangagwa

He said the emerging environmental social and governance (ESG) thrust in the mining sector, now demands that mining houses create real benefits for the communities in which they are operating.

ESG is a set of standards that govern how companies ensure that they are responsible in the way that they make profits. It is a variation of the stakeholder model that businesses are increasingly adopting, which is founded on the stakeholder theory. In the case of green investing, these other considerations revolve around stakeholders that are affected by a company’s carbon footprint, adherence to labour laws and support towards SDGs, as well as remuneration and corporate governance.

“Over and above supporting livelihoods, it is also necessary for you in the sector to increase investment in the protection of the environment, while building long-term resilience. In this endeavour, capacity building for mining sector professionals in environmental, social and governance matters must be given due attention,” he said.

“Meanwhile, I exhort the ministry of Mines and Mining Development and the Environmental Management Agency to ensure that mining houses abide by their commitments in their environmental impact assessments. Additionally, the mining sector must strive to be a model employer by rewarding employees at favourable levels.”

The President said the conference takes place at a time when Zimbabwe, as with many others across the world, is confronted with disruptions as a result of the Covid-19 pandemic, and other global shocks, which have seen mixed fortunes in the various sectors of the economy.

“I, however, want to commend the mining stakeholders in our country for the notable milestones realised across the key minerals such as gold, which rose 86 percent, diamonds increasing 51 percent, coal adding 21 percent and platinum by 13 percent,” he said.

He implored mining houses to scale up the implementation of robust and forward-looking strategies for accelerated and sustained growth.

“In this regard, it is imperative for the mining and metals industry to take advantage of the rebounding commodity prices and other developments such as a boom in the construction sector, demand for steel globally, as well as rising need for lithium among other minerals.,” Mnangagwa said.

The mining conference comes as authorities set out to drive mining revenue up to US$12 billion by next year, from about US$2 billion when the announcement was made in 2019.

The mining industry is on a recovery path, after recording a 3,4 percent growth in 2021 following a Covid-19-induced contraction of nine percent in 2020.