Zimbabwe exported nearly $1 billion worth of minerals in the five first months of 2010, Mines and Mineral Development Minister Obert Mpofu said.

In an interview with Herald Business, Mpofu said that the mining sector's performance affirmed projections by Finance Minister Tendai Biti, that Harare's mining industry would add some 40% in 2010.

Mpofu said gold and other precious minerals, especially those in the platinum group of metals, drove the increase in the value of mineral exports.

The estimated value of mineral exported by Zimbabwe since January, however, excluded potential foreign exchange inflows from diamond exports, which remain banned over smuggling concerns.

Zimbabwe produces diamonds in Murowa in the southern part of the country, River Ranch in Beitbridge and Chiadzwa-Marange in Manicaland.

Since early 2009, the value of Zimbabwe's mineral exports doubled when compared to the past two years. Harare's Finance Ministry originally projected a 7% growth for Zimbabwe's economy, but later revised forecasts to 4.8%, amid concerns that a worsening balance of payments position, unsustainable civil service salary bill and lack of investment capital would conspire to choke economic growth.

The mining sector is expected to leverage economic growth this year, riding on increased investment and favorable macro-economic policies, although optimum production potential is still constrained by shortage of capital.