Total Zim increases exposure to mining

HARARE - Total Zimbabwe, the country’s largest fuel distribution firm, has increased its support to the mining sector by offering a diversified range of products range besides fuel and lubricants, an executive has disclosed.

The strategy of the company over the past six decades in Zimbabwe has been distribution and retail of petroleum products and lubricants.

Speaking at a corporate dinner in Harare recently, Total Zimbabwe’s managing director Ronan Bescond said experience had helped the company to adjust to consumer needs in different sectors.

“Total has diversified its product range, offering more than just fuel and lubricants. This year Total wanted to do more in the mining sector by offering value added services to different supplies required by the mining industry,” Bescond said.

The mining industry is the major foreign currency earner in Zimbabwe, contributing about 70 percent of the country’s foreign currency earnings.

“To this end we successfully sponsored the mining industry suppliers’ forum in Bulawayo in October 2018. As Total, we are driven by the goal to enhance the growth of Zimbabwe’s mining sector through offering the ‘Total Mining Solutions’, uniquely developed by the Total Group to offer production and services adapted to the mining sector, whilst reducing fuelling and lubricant costs,” he said.

According to the 2019 National Budget, the mining sector is expected to grow by 7,5 percent next year.  For improved performance of the mining sector, the minister proposed some deliberate policies across the sector.

“The thrust is to add value and beneficiate more through processing and refining of minerals and link processed and refined minerals to the manufacturing sector in order to industrialise,” Finance minister Mthuli Ncube said.

 

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Comments (1)

Zimbabwe is blessed with all sorts of minerals but nobody knows much about the sale proceeds from these minerals. Who is really benefitting? Are the minerals being stolen? What happened to diamonds at Chiadzwa in Manicaland? We need a Commission of Inquiry. Too many people died there and the diamonds were stolen by foreingners.

Ndiani Ndiani - 7 December 2018

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