Online Reporter
Business Reporter
The Minerals Marketing Corporation of Zimbabwe (MMCZ) has expanded its mineral product exports to new markets in Asia, Australia, South America and Africa under its export market development drive.
The diversification strategy moves beyond traditional markets such as in Europe and the Middle East.
“The corporation managed to create additional markets for mineral products in destinations such as Australia, China, Colombia, Burundi and India,” said MMCZ chairman Mr Jemister Chininga.
MMCZ is the exclusive Zimbabwe’s agent for marketing and selling of all minerals except for gold and silver. It plays a critical role in developing new markets for Zimbabwean minerals.
Minerals constitute the bulk of Zimbabwe’s export basket, accounting for roughly 83 percent of foreign exchange earnings.
Zimbabwe recorded a 21 percent increase in mineral sales of US$2,6 billion in the first 11 months of 2024 from mineral sales of 3,9 million tonnes.
Platinum Group Metals (PGMs) remains Zimbabwe’s biggest mineral export, excluding gold, after accounting for 50 percent of the shipments.
Lithium exports realised a total of US$457 million while high carbon ferrochrome raked in US$311,5 million.
In addition to export market development, the corporation has also made significant strides in research and development, curbing mineral leakages as well as value addition and beneficiation.
MMCZ established a gemstone cutting and polishing training centre at the Zimbabwe School of Mines.
During 2024, the corporation also invested in equipment for local government laboratories to enhance assay and characterisation processes for curbing mineral leakages.
MMCZ is also working on plugging mineral leakages and enhancing its gemstone value addition and beneficiation initiatives as it pushes to grow gemstone export revenue.
The move is a strategic plan that aligns with the broader objectives of the National Development Strategy 1 (NDS1), which emphasises the importance of mineral beneficiation in bolstering the local economy.
In pursuit of these goals, the corporation in 2024 forged a partnership with the National University of Science and Technology (NUST) to deepen the understanding of Zimbabwe’s lithium resources.
The collaboration is a vital step towards the value addition of local lithium resources, facilitating improved mineral resource accounting and management, which is essential for informed decision-making in the mining sector.
This week, MMCZ appointed Dr Nomusa Moyo as the substantial MMCZ general manager with immediate effect.
Dr Moyo comes in to fill the vacancy following the death of Tongai Muzenda who died in a car accident in April 2023.
Dr Moyo, who has been serving as the corporation’s acting general manager since July 2023 has a cumulative acting experience in the role spanning four years, inspiring the board’s vote of confidence in her appointment.
Mr Chininga said the board recognised Dr Moyo’s leadership in guiding the corporation toward maximising returns by effectively accounting for and marketing mineral resources.
“Dr Moyo brings in 24 years of public entities experience having worked for Zimbabwe Revenue Authority for eight years, the Grain Marketing Board for one year and MMCZ since December 2009,” said Mr Chininga in a statement released yesterday.
“She has worked as a board member in a number of private and public institutions . . . (and) has extensive corporate governance experience as a writer, lecturer and presenter of papers on corporate governance at local and international fora.”
Mr Chininga said Dr Moyo will lead MMCZ’s strategic direction, drive growth, and oversee day-to-day operations, while fostering strong relationships with stakeholders and industry partners.
“We are confident that her leadership and expertise will guide the corporation towards continued success, creating value for all stakeholders,” Mr Chininga said.
Dr Moyo is a lawyer with a Doctorate of Law specialising in corporate governance. She also holds a Master of Laws degree, a Bachelor of Laws degree, full Chartered Institute of Secretaries (CIS) member and possesses a Bachelor of Science Honours degree in Economics.
She is a member of both the Law Society of Zimbabwe and the Chartered Governance and Accountancy Institute of Zimbabwe.
