By Own Correspondent

ZIMBABWE’s mining sector has expressed optimism on the possibility of hiring more employees going forward in 2023, a recent Chamber of Mines Zimbabwe commissioned survey has revealed.

The survey titled, “State of the Mining Industry Report 2022” shows that mining executives are generally optimistic about job creation in 2023.

“About 46% of respondent mining executives indicated that they will increase the number of employees in 2023, citing improvements in the Covid-19 situation and expansion projects to drive increased hiring. Analysis of respondent planned increase in employment show that formal employment in the mining sector is expected to increase by 9%,” the report said.

In general, the report establishes that mining executives are positive about the prospects for economic growth for 2023.

Approximately 60% of respondents expect the economy to grow, while 40% expect the economy to contract in 2023.

“Downside risks to the economic outlook identified by respondents are inflation, infrastructure and power deficit constraints and exchange rate volatility,” the report said.

The report observes that the mining industry continues to be an important sector in the Zimbabwean economy. The government’s economic blueprint, the National Development Strategy 1 (NDS1), accords the mining industry a central and important role.

Working under the guidance of the Ministry of Mines and Mining Development, the sector remains committed to enhancing the contribution of the mining industry to the economy.

Currently the mining industry contributes 73% to Foreign Direct Investment, 83% to exports, 19% to government revenues, 2% to direct formal employment, and 11% National Income (DGP and GNI).

“These levels of contribution are on the upper end of the contribution ranges for Middle Income and Lower Income economies. The Zimbabwean Mining Industry’s contribution to the economy is generally higher than the average for Sub-Saharan countries with significant mining activities,” the report added.