YMED partners Chinese firm on thriving chrome project, empowering youth, communities

By Senior Corrospondent

The Young Miners for Economic Development (YMED) has achieved a significant milestone in Zimbabwe’s mining sector through a successful partnership with a Chinese firm, focusing on chrome mining operations.

The project has not only boosted the country’s mineral output but has also empowered local communities, particularly the youth, through skills transfer, employment opportunities, and community share ownership.

According to YMED President Nyasha Magadhi, this initiative reflects Zimbabwe’s broader goal of becoming an upper-middle-income economy by 2030, with mining playing a crucial role in driving economic growth, attracting foreign investment, and increasing foreign currency reserves.

YMED, an organization committed to fostering youth participation in Zimbabwe’s economic development, has expressed deep appreciation for the collaboration with the Chinese firm.

Magadhi said the joint venture has seen young Zimbabweans gain hands-on experience in mining, learning vital skills that will secure their future in the sector and ensure sustainable growth for the country.

“At YMED, we are proud of the strides we are making alongside our Chinese partners. This collaboration is more than just a business venture; it’s about building a future for our young people. Through skills transfer and capacity building, our youth are gaining the knowledge and expertise necessary to lead Zimbabwe’s mining industry in the future.

“We believe that empowering young people is key to unlocking Zimbabwe’s full potential, and this partnership is an example of how international cooperation can benefit our nation,” Magadhi said.

Additionally, youth have benefited through community share ownership, with many now holding stakes in the project. As part of the initiative, the two organizations have offered youth a 20% free ownership stake in the project as part of their commitment to youth economic empowerment, reflecting the support they have received from the government under President Emmerson Mnangagwa’s leadership.

Mr Cheng Hangjian, a Director of DAWORLD LTD, the Chinese firm involved in the project, has also expressed satisfaction with the progress, emphasizing the importance of skills transfer and community development.

“Our investment in Zimbabwe is long-term, and we are pleased with the results so far. The local communities are benefiting, and we are proud to see the youth taking leadership roles in the operations. This project is a win-win, not just for the investors, but for the people of Zimbabwe,” said Hangjian.

According to Magadhi, the partnership has also had a profound impact on local communities, particularly in terms of job creation and infrastructure development. He highlighted that all employees at the project, especially those in leadership positions, are local young people, directly benefiting from the employment opportunities created by the venture.

“The surrounding areas have seen improvements in living conditions, thanks to the opportunities generated by the chrome project,” said Magadhi.

Community leaders have expressed their gratitude for the project, acknowledging how it has brought hope to their region.

“Since YMED and DAWORLD LTD started working together, our community has seen a positive transformation. Jobs have been created, and the youth are gaining valuable skills. We are grateful for the opportunities that have come to our area, and we look forward to seeing continued growth and development,” said Tatenda Marume a local youth.

In line with Zimbabwe’s Vision 2030, which aims to transform the country into an upper-middle-income economy, the mining sector remains a key pillar of economic growth. Mining accounts for 70% of the country’s export earnings, making it a major contributor to foreign currency generation. Additionally, the sector continues to attract significant foreign direct investment, helping stabilize Zimbabwe’s economy and fund critical national development projects.

YMED took the opportunity to praise President Emmerson Mnangagwa for his unwavering support for youth initiatives and investment in the mining sector. The President’s vision for empowering young people has been instrumental in creating opportunities like the YMED-Chinese partnership.

“We are extremely grateful to His Excellency, President Emmerson Mnangagwa, for his support of the youth and for creating an environment that attracts investment. The President’s focus on youth empowerment is clear in the policies that encourage international partnerships, and this chrome project is proof that the future of Zimbabwe is bright under his leadership. We believe that with his continued support, more young people will be able to participate in driving the nation’s economy forward,” Magadhi said.

DAWORLD LTD echoed this sentiment, commending the Zimbabwean government for its pro-business environment and support for foreign investors.

“We appreciate the Zimbabwean government’s commitment to making the country an attractive destination for investors. The policies implemented under President Mnangagwa’s leadership have made it easier for us to operate and invest in Zimbabwe. This project is just the beginning of many opportunities that lie ahead for both our company and the people of Zimbabwe,” Hangjian added.

As Zimbabwe aims to diversify its economy and increase its foreign currency earnings, partnerships like the one between YMED and DAWORLD LTD are essential for boosting mining production. The chrome project, in particular, contributes significantly to the country’s export earnings, helping Zimbabwe reach its target of becoming a key player in the global minerals market.

The mining sector’s contribution to the country’s foreign exchange earnings cannot be overstated. By generating more than 70% of Zimbabwe’s export revenue, the sector provides a steady influx of foreign currency, which is crucial for stabilizing the economy and supporting key infrastructure projects. Additionally, the presence of international investors brings in much-needed foreign direct investment (FDI), helping to spur growth in other sectors of the economy.