Mark your dates for 4th Asia Pacific Precious Metals Conference on 07-09 June 2020 at Mandarin Orchard, Singapore..., Mark your dates for 17th India International Gold Convention on 03-05 Sept 2020 at Radisson Blu Resort & Spa, Udaipur...
 You are here : Home > Mining & Refining

Mining ministry confident of 2023 target

16 March 2020


Two gold mines have set a target to produce four tonnes of the yellow metal per year while a few more are expected to haul two tonnes annually as part of Government set targets towards the 2023 milestone of 100 tonnes.This was revealed by Mines and Mining Development Minister Winston Chitando in an interview with The Herald Finance &  Business on the progress towards the US$12 billion mining sector milestone.


Minister Chitando said Government is confident the target will be met and that activities on the ground all point towards success.He said Government has taken note of several gold mining projects, which are at project phase as well as several others that are on different stages of expansion to meet mining asset’s production potential.Under the “use it or lose it” regulations, mining title holders are expected to declare produce that is in sync with the potential of the title.


To this end, there are at least two gold miners which Government expects to produce over four tonnes per year by 2023 and a few others that will top the two tonnes mark and there are investments that will be coming to meet this target.“On gold we are coming up with further interventions that will be unveiled soon to stimulate gold production,” Minister Chitando said.


“The 100 tonnes by 2023 is premised on deliveries from large scale miners and small to medium scale miners. On the large scale miners we have a number of companies which are in project phase to expand and also to come into production.“We are targeting that we should have at least two companies producing over four tonnes (per year) by 2023 and then we should have a few more companies which should be producing over two tonnes,” he said.With the geology of the country making some gold deposits more amenable to small-scale mining operations as opposed to conglomerate mining, Government also continues to explore ways to boost production in small scale gold mining.


It is against this background that Government is now stepping up efforts to set up gold centres to facilitate the ease of doing business for small-scale miners and at least five of these are expected to start operating before end of June. Fifteen more are expected to come into stream before the end of the year.“At the same time, Government is rolling out a total of 20 gold centres to facilitate and promote small scale production of gold whereby these gold centres will play a facilitatory role in the operations of small scale miners,” said Minister Chitando. “The first five should be operational by June and the other 15 we are targeting November,” he said.