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Economy

Implement the amended Indigenisation and Economic Empowerment Act [Chapter 14:33] to attract foreign investment into the mining sector while also promoting the local content policy.

In Progress

Partnership with the United Nations Development Program (UNDP) to support small scale mining.

Herald

    

Feb. 7, 2020

The United Nations Development Programme (UNDP) is conducting a needs assessment for the small scale mining sector in conjunction with the Ministry of Mines and Mining Development that will culminate in the development agency providing funding to address challenges bedevilling the sector. This was revealed by Mines and Mining Development Permanent Secretary Mr Onismo Mazai-Moyo on the back of the agency having signed a cooperating agreement with the ministry last year.

Previous Updates

Commencement of Operations at Great Dyke Investments

Herald

    

Jan. 31, 2020

Great Dyke Investments started mining on its Darwendale concessions after years of preparation.

The first box cut, a single rectangular hole made in the surface of the earth was made and this serves as the opening of most new mines.

The box cut provides a secure and safe entrance to an underground mine.
Great Dyke Investments is a joint venture between Russia’s Vi Holdings and Zimbabwe’s Landela Mining Venture (Pvt) Ltd.

 

Signing of a 30%/70% Diamond Mining Joint Venture between the Zimbabwe Consolidated Diamond Company (ZCDC) and Alrosa respectively

The Zimbabwe Mail

    

Dec. 2, 2019

The World's largest diamond producer by output, Russia's Alrosa has finalised a jount venture with the Zimbabwe Consolidated Diamond Company (ZCDC) for exploration of diamonds in the country. 

Expansion of Platinum Extraction.

Herald

    

Dec. 4, 2019

Targets set for the Karo Platinum Exploration Project in Mashonaland West Province have been met, and civil construction work for the establishment of the Jin An Low Carbon Ferrochrome Furnace in Midlands province is 80 percent complete. These are some of the projects aimed at achieving the one billion target for the ferrochrome industry.

Expansion of the granite cutting and polishing plant at Sure Win in Mashonaland East

Herald

    

Dec. 4, 2019

Expansion of the granite cutting and polishing plant at Sure Win in Mashonaland East is at 80 percent completion. Assessment for market pricing has been completed.

Prioritisation of Domestic Innovation by ZISCO Board

Chronicle

    

Sept. 20, 2019

Acting Zisco chairman, Dr Gift Mugano, says his board will work towards the resuscitation of the defunct steel manufacturing firm using local resources and innovations.

President E.D. Mnangagwa Commisions a USD$62 Million Smelter at Unki Mine

Chronicle

    

May 15, 2019

Unki Mine’s $62 million platinum smelting plant is now complete

Zimbabwe signs a Platinum mining deal with Bavura Holdings a Nigerian company.

Reuters

    

May 23, 2019

Zimbabwe has awarded a concession to explore for and mine platinum to a company linked to a Nigerian billionaire as the country speeds up investment in a mining sector it hopes will transform the country’s struggling economy. The information ministry said Bavura Holdings, in which Nigerian billionaire Benedict Peters is a major shareholder, signed an agreement to mine platinum on Zimbabwe’s mineral-rich Greak Dyke. 

The government of Zimbabwe signed a USD$5 billion dollar investment deal with a Chinese Steel Giant Tsingshan.

Herald

    

April 24, 2019

The government of Zimbabwe signed an investment deal worth over $5 billion with Chinese steel giant, Tsingshan, for the setting up of a steel plant in Mvuma and to bankroll a number of mining activities. The deal is expected to create at least 30 000 jobs. Tsingshan and Zimbabwe signed a memorandum of agreement, which served as an addendum to an initial agreement signed in June last year between the two parties. Mines and Mining Development Minister Winston Chitando and the firm’s chairman Mr Chen Shangsong, signed the documents as President Mnangagwa and other senior Government officials witnessed.

The Zimbabwean government and the Russian government signed a USD4 Billion deal to build new platinum mine.

Zimbabwesituation.com

    

April 11, 2019

A deal to develop a new platinum-group metals mine on a prospect held by Great Dyke Investment, a company jointly owned by a Russian state-controlled company and Zimbabwe’s government has been sealed, Polite Kambamura, the nation’s deputy mines minister said. The deal hadn’t progressed since an initial agreement in 2014, Kambamura said, declining to disclose the shareholding structure. He said the mine and associated infrastructure will cost $4 billion. The mine would be built on one of the largest platinum mining concessions in the country. Egypt-based Afreximbank may raise $2 billion to finance building the mine and a smelter at the project.

    

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