Zimbabwe's mining sector is optimistic of growth in 2010 following the stabilization of the economy since the signing of the Global Political Agreement, an official said on Thursday.
Chamber of Mines chief executive Chris Hokonya said the sector was confident that it will pick up. "We are hopeful that 2010 can be better for
the sector but we cannot disengage ourselves from the evils from 2009 because they spill over into 2010," he said.
"We are cautiously optimistic that the situation will be better, " he said.
Dr Hokonya said the sector expected to surpass the 78 percent capacity utilization the country realized in 1998.
He applauded government for providing a conducive environment for business, saying that the government liberalized the marketing of gold and
about seven organizations have been granted licenses to trade in the precious mineral date.
"Positive things that have happened in 2009 are critical for production, so we are not worried about next year," said Dr Hokonya.
He said there was need by banks to improve their lending capacity as most mining operations needed capitalization. Unavailability of long-term
finance, he said, was an area of major concern.
He also said that the sector should make use of the high global prices of minerals. "Prices may pick up globally, but until we are able to
manipulate that we will not benefit much," he said.