Zim secures diamond, platinum investments

The Minister of Mines and Mining Development, Mr Winston Chitando says diamond mining in Chiadzwa is set to commence within the next six months, with the US$300 000 platinum mining project by Great Dyke Investments of Russia set to start soon in Norton.

The two projects are taking off as a result of the signing of mining agreements in the just ended visit by President Emmerson Mnangagwa to Eastern Europe.

Minister Chitando outlined some of the agreements and memoranda of understanding (MOUs) that were concluded in the mining sector.

“Within the next six months diamond mining by a Russian company will commence to the initial value of not less than US$50 million. The second agreement relates to the Great Dyke Investment Company which should start platinum mining in Norton in a couple of months. The company has accessed some US$300 million for the first part of the project,” he said.

In Azerbaijan, discussions centred on the sovereign fund to help Zimbabwe finance mining projects, while in Kazakhstan, some 50 business leaders with some from the mining sector and shareholders of Total, who have an interest in platinum, assured Zimbabwe that they would fund its platinum project.

In Belarus, Zimbabwe secured funding for establishment of 10 gold centres initially.