[miningmx.com] – ZIMBABWE’S mining industry will shrink for the first time in five years owing to falling metal prices, high costs and a lack of capital, said Bloomberg News citing the southern African country’s Chamber of Mines.
Commenting in a report responding the country’s 2015 budget, the chamber said that the industry may shrink about 2%.
“The sector continues to operate below capacity amidst a host of challenges, not restricted to but including depressed metal prices, lower capital and FDI inflows, high cost structures, sub-optimal royalties and shortages of power,’ it said, referring to foreign direct investment.
Click here to read the full article
