Diamond indaba key for economic growth

HARARE - The on-going second diamond conference presents a huge opportunity for Zimbabwe to harness international experience and grow its economy.

We must take seriously experiences from diamond and mineral experts drawn from various countries such as South Africa, United Arab Emirates and Belgium who have managed to harness the gems for the benefit of their people.

Mines minister Walter Chidakwa was spot on yesterday when he said Zimbabwe has been producing minerals to drive industries of other nations at the expense of the country’s own industrialisation.

We must put it upon ourselves to seek various ways to develop robust mining activities which may become the backbone of our own growth and development.

The best way forward for Zimbabwe to develop its mining sector, and other related industries, is by investing in new technologies.

New and innovative technologies will increase effective control of access and present the sector with the prospect of more efficient ways to conduct daily operations, ultimately saving mining companies millions of dollars.

These customised technologies also help mining companies improve on corporate governance with respect to processes such as safety procedures, and keep these processes within the parameters of mining legislations, allowing the company to focus on the business aspects of what they do best – mining.

To determine what needs to be done to achieve the best results for mining businesses and of course the sector, a technology audit is the best way to start.

Through such an audit, a mining company can determine their specific technological needs that fit in with the way their business functions, and then upgrade technology and software accordingly.

Making the decision of when and how to go about implementing the required technology and equipment needed in the mining industry is a complex process involving both business and technical insight, but one that needs to be done.

The potential for customised technology solutions to positively change the way in which mines operate is enormous and best yet, yields a positive return on investment from a financial, regulatory and operational framework perspective.  

President Robert Mugabe succinctly put it when he said that mining development in the country was being limited by factors such as power shortages, technology gap and uneven market conditions.

It is known that Zimbabwe is endowed with vast mineral resources and it only makes sense to fully utilise these resources for the benefit of everyone in the country.

 

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