The Zimbabwean government has signed an agreement on promotion and marketing of coal exports with a Dubai-based company, Victoria Consultant.
The signing ceremony, which witnessed the presence of President Emmerson Mnangagwa, was held on Wednesday morning at the Office of the President and Cabinet (OPC) headquarters located in Munhumutapa Building in Zimbabwe’s capital city, Harare.
The Minister of Mines and Mining Development, Honorable Winston Chitando, signed on behalf of the Government while Victoria Consulting chief executive officer, Mr Vitor Oliveira Sousa, signed on behalf of his organization.
The agreement entails that the firm will assist Zimbabwe to find markets and promote the country’s coal to India and Japan — two of the largest coal importing countries in the Asia Pacific region.
During the signing ceremony, President Mnangagwa stated that there is huge potential in the coal industry that can be used in the development of the country [Zimbabwe] and, therefore, the need to increase the current extraction rate.
Further, the President added that Zimbabwe should capitalize on the good relationship with India to boost exports.
He also highlighted that “the country [India] only produces two million tonnes (MnT) of coal per annum against a demand of 52 MnT in the Indian market. The local [Zimbabwean] mining industry should aim and work on how to meet that demand by increasing production”.
Minister Chitando stated that the country [Zimbabwe] is endowed with an estimated 25 billion tonnes of coal reserves but currently mines between two and three million tonnes annually. He assured to ensure the optimum utilization of such vast deposits.
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