Zozodo Gemstone Consultancy and Mining Company Limited has set bold plans for its 2025 monetary 12 months, together with making large funding in quarry mining, gemstone worth addition and gemstone jewellery manufacturing in its efforts to enhance the earnings stability for the corporate.

Recently, the corporate held its annual basic assembly (AGM) to guage and assess its successes and challenges for the previous two years that it has been in operation.

Held beneath the theme “Planning is the base of success”, the AGM additionally appeared on the firm expenditures, earnings, achievements, challenges and advised options to the highlighted challenges.

Speaking in an interview with Nyasa Times, Zozodo Gemstone Consultancy and Mining Company Limited Chief Executive Officer (CEO), John Vasco Chidule, stated the assembly additionally enabled the administration and workers to plan for the 2025 monetary 12 months.

“After two solid years of operations, the company had no time to evaluate its works and projects. So, this was the most opportune time for the management and staff to meet and deliberate on the future of the company,” stated Chidule.

Among different successes because it was launched in 2022, Zozodo Gemstone Consultancy and Mining Company Limited has managed to buy workplace property akin to eight computer systems, printers, stationery supplies, and a plot to construct its workplaces.

It additionally bought two motorbikes for the mining subject officers and different mining instruments akin to petrol jack hammers which are fashionable and different hand instruments.

It explored numerous industrial minerals akin to beryllium, iron ore, tantalite, columbite and different gems with Mzimba and different districts throughout Malawi and employed locals in locations it carried out exploration other than bringing in traders.

And in its future plans, in accordance with Chidule, the corporate envisages to achieve a revenue of K50 million by 2025 having made a loss within the earlier 12 months.

Chidule added that the corporate will prepare youth within the mining sector at a free price in order to spice up mining information among the many youth.

“We also want to support women in the mining sector through a free gemstone value addition course and rewarding certificates of attendance and completion of basics,” he stated.

On challenges, Chidule highlighted lack of assist from authorities funding establishments to help them with loans to assist their investments akin to quarry mining funding, gemstone worth addition, delay in approval of mining licenses by the accountable ministry and lack of well-equipped geological labs as obstacles to their progress.

He additionally fingered out poor markets for the regionally sourced gems as one other barrier to the expansion of the corporate within the 12 months simply passed by.

“We appeal to the government to support us with financing so that we can grow our investment. We also recommend speedy license processing by the government under the Mining Regulatory Authority to enable our investors to pool their resources in the sector,” he appealed.

Chidule additionally requested the Minister of Mining to think about visiting their websites to understand developments going down there.

Zozodo Gemstone Consultancy and Mining Co. Limited is a non-public restricted firm by shares.

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