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Zimbabwe Mines See $10 Billion Funding Shortfall Over Five years

  • Chamber of Mines comments in commodity outlook report
  • Mining lobby says foreign-exchange rules pose risks to sector

Zimbabwe’s mining industry sees a funding shortfall of $10 billion over the next five years, a challenge compounded by erratic power supplies and exchange-rate volatility.

While Zimbabwe has the world’s third-biggest reserves of platinum-group metals, plus gold, diamond and chrome mines, development has been stymied by political instability, economic collapse and rules that deter foreign investment. While mining is projected to generate earnings of $5.5 billion this year, it faces a number of headwinds, the country’s Chamber of Mines said in its latest commodity outlook report.