Deputy Minister of Mines and Mining Development, Dr. Polite Kambamura, has revealed plans to introduce a new policy that will mandate mining companies to adhere to Environmental, Social, and Governance (ESG) principles.
Speaking at the 11th Mining Media Awards ceremony in Harare, Dr. Kambamura highlighted the importance of aligning the country’s mining sector with global standards and addressing climate change concerns.
He noted that while some companies have already embraced ESG practices, others prioritize short-term profits over long-term sustainability.
“Currently, there is no policy that forces companies to comply with ESG and that’s why the Government is thinking of coming up with a policy which speaks to ESG. People should be cognisant of the environment in which they are operating, so we are considering coming up with a prerequisite requirement to issuing of mining titles, which will be an ESG that will speak to the environmental, social and governance issue of a company.” Kambamura said
He stressed the significance of the mining sector as a key driver of economic growth and industrialization.
He highlighted the sector’s contribution to employment, both formal and informal, and its role in realizing the government’s vision of a prosperous Zimbabwe.
“The mining sector is not only the backbone of our economy but also a key a key catalyst for development and industrialization the industry sustained over 45,000 formal s and over 1.5 million other people who are in the former sector or small sector is actually essentially, the President’s call for determined growth ‘Nyika inovakwa nevene vayo/Ilizwe lakhiwa ngabanikhazi balo’ serves as a powerful reminder that we must build our nation through collaborative efforts,” he said.
The proposed ESG policy is seen as a crucial step towards ensuring sustainable mining practices in the country.
By incorporating ESG principles into the mining industry, the government aims to mitigate environmental damage, promote social responsibility, and enhance corporate governance standards.
Kambamura paid tribute to journalists for a tremendous job they are doing in reporting issues in the mining sector.
