Survey paints rosy picture of Zimbabwe 's mining industry next year

09:42, December 14, 2010      

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Zimbabwe's mining industry is likely to be ranked the top performer among all sectors in terms of productivity next year as business confidence in the country has increased on the back of the stable economic climate, a recent survey has showed.

According to the latest National Industrial Production Census carried out by the Zimbabwe National Statistics Agency (ZIMSTAT), the mining sector has operated above market expectations, registering a 51 percent increase in terms of productivity since January this year.

This was followed by food production, which accounted for 48 percent, services industry 46 percent, agriculture 44 percent, manufacturing 43 percent, among other key sectors of the economy.

The survey, which focused on the general business operating climate, investment trends, changes in capacity utilization and production constraints, has revealed that business confidence in the country has increased on the back of the stable economic climate.

ZIMSTAT Director James Takavarasha was quoted by the national broadcaster ZBC News as saying while there has been a marked improvement in terms of business conditions within the economy, concern has been raised about cash-flow challenges, weak domestic demand, breakdown of machinery and shortages of raw materials.

"The survey has revealed that the mining sector is on top, remember this is a process that we carried around the country to assess the volume of industrial indices and we hope our findings are a true reflection of the situation within the ground," said Mr Takavaraha.

Findings by ZIMSTAT showed that while there has been a fall in cost per unit and an improvement in profit margins, respondents are calling upon the government to mobilize adequate funding to revive industrial operations.

Source: Xinhua


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