Zimbabwe aims to more than triple diamond production by 2023 [Reuters]
IMPALA PLATINUM HLDGS ADR (IMPUY)
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Source: Reuters
Zimbabwe aims to more than triple diamond production by 2023 - Reuters 2 Min Read HARARE (Reuters) - Zimbabwe expects to increase diamond production to 11 million carats by 2023 from 3.2 million carats last year, the mines minister said on Monday, part of an ambitious plan to raise mining output and earn the country $12 billion a year. The mineral-rich southern African nation sees the mining sector as the main driver for reviving an economy crippled by triple-digit inflation and high unemployment. Still, many investors fret about whether they can take money out because of acute dollar shortages. Zimbabwe’s government has previously set ambitious targets on mining production but output has rarely met those goals because investors often cite archaic investment regulations and uncertainty over the safety of their investment. Under President Emmerson Mnangagwa’s Zimbabwe is “open for business” mantra, the government has promised more favorable terms for those investing in the country, but
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