Russia, Zimbabwe to Develop Nation’s Biggest Platinum Mine

via Russia, Zimbabwe to Develop Nation’s Biggest Platinum Mine – Bloomberg 15 September 2014 by Godfrey Marawanyika and Brian Latham

Russia and Zimbabwe will jointly mine platinum in the African country’s Darwendale district, Russian trade minister Denis Manturov and Zimbabwean foreign minister Simbarashe Mumbengegwi said in a joint statement.

“The priority for us is the Darwendale Platinum Project,” Manturov said in Harare today, adding that the agreement to dig the metal in Zimbabwe was the “beginning of our bi-lateral cooperation.”

In August Zimbabwe’s Mines Minister Walter Chidakwa said Russia’s OOO VI Holding and state corporations Rostec and Vnesheconombank would invest $1.6 billion in the project, about 40 kilometers (25 miles) north of Zimbabwe’s capital, Harare. At an eventual production capacity of 600,000 ounces per annum it will be the country’s biggest mine for the metal.

Currently South African companies Impala Platinum Holdings Ltd. (IMP), Aquarius Platinum Ltd. (AQP) and Anglo American Platinum Ltd. (AMS) are the sole miners of platinum in Zimbabwe, which has the world’s second-biggest deposits of the metal after South Africa. Russia’s OAO GMK Norilsk Nickel is the biggest producer of the metal not based in South Africa.

The venture will be officially opened tomorrow with Russian Foreign Minister Sergei Lavrov expected to officiate.

“We are proud that Russia has been chosen to develop on of the richest platinum deposits in Zimbabwe,” Manturov said.

Helicopters, Trucks

Russia’s OMZ Group has signed an agreement with the state-owned Zimbabwe Mining Development Corp. to supply equipment for the platinum mine, Manturov said.

The Darwendale platinum project was identified at a meeting between Zimbabwean and Russian officials in Moscow in April, Mumbengegwi told reporters.

“This will go a long way towards fulfilling our natural desire to elevate the level of our economic cooperation to the same level as our diplomatic cooperation,” the Zimbabwe foreign minister said.

Russia would also like to supply military hardware, helicopters and trucks to Zimbabwe, Manturov told reporters.

“A good foundation has been laid,” Manturov said. “We have to look for more opportunities for both of us to enter regional markets.”

To contact the reporters on this story: Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net; Brian Latham in Harare at blatham@bloomberg.net

To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net; Nasreen Seria at nseria@bloomberg.net Ben Holland

COMMENTS

WORDPRESS: 16
  • comment-avatar

    Does Zim really need more military hardware?

    • comment-avatar
      Swagman 7 years ago

      Of course they do – 2018 will
      see an uprising and they want
      to be ready to slaughter their
      own people – with Russia’s help!

  • comment-avatar
    John Thomas 7 years ago

    The Russians will not be giving anything away on concessional terms. They will extract their pound of flesh and then a lot more

  • comment-avatar
    Ndebvu Mukomichi 7 years ago

    Its ok. that is the inivhesitimendi that we all need. Dazimata what colour the cat is, as long as it catches and brings investment. Good on you Zimbos! Military hardware ndizvo- the nations must always be ready to defends itself against its foes home and away!

  • comment-avatar
    Tiger Shona 7 years ago

    Let us see how much that will benefit Zimbabwe.

    And we already know that.

  • comment-avatar
    ntaba 7 years ago

    This will be a good pocket liner for Vladimir and one SAF – (Senila Old Fart) Diamonds and now Platinum to buy Imelda Mugabe more shoes.

  • comment-avatar

    Bartering our minerals for weapons to oppress. How much swag will the mafias deposit off shore. Lavrov is a kunt anyway

  • comment-avatar
    nyoni 7 years ago

    The key question is “DOES THE MONEY BENEFIT THE PEOPLE OF ZIMBABWE” SO FAR WE HAVE BENEFITED ZERO FROM THESE TURDS ZANU PF. Pasi ne Zanu post fools.

  • comment-avatar
    Tinomunamataishe 7 years ago

    The country is not at war and there is no immediate need for military hardware and yet this what Zanu PF wants.

    Why can’t this government see what’s on the ground and see where the real needs are?
    The country needs up to date modern medical equipment in hospitals, needs to update schools with modern technology like all other schools around the world today etc.

    I think their priorities are on things that secure their power and not the welfare of the people. They have zero interest in the people of Zimbabwe. This will in turn be just like the diamonds scenario with the money benefiting the ruling elite and nothing for the rest of the population.

  • comment-avatar
    Justice 7 years ago

    How did the tender go and on what basis was this co chosen? Who are the shareholders?

  • comment-avatar
    munzwa 7 years ago

    China has seen through the old fart and so now he plays on the rift between russia and the west over ukraine….rogue govts. attract each other…

  • comment-avatar

    We pray and ask the Lord to expose and nullify every evil plan. When will ZPf learn that the war finished a long time ago.

  • comment-avatar
    Rwendo 7 years ago

    Supping with the Russians. Times are hard.

  • comment-avatar

    Arms hey? why oh why do we need arms.? Does the government ever prioritise what the people really really need as opposed to what keeps them firmly in power?

  • comment-avatar
    bruce Koffe 7 years ago

    Why Russia when there are other peacefull investors. Russia helped the ZANU PF to expel Smith regime. Now they want Russia to deal with the local opposition, its pay back time for Bob. Any way there is no chance, the economic status of the country will drive Russia out, it took 34 years to undo the investment and infrustructure left by the Smith regime, and who ever want to harvest should be prepared to undo that plunter by ZANU PF. Chinese are failing already

  • comment-avatar

    Over these years of political typhoon in our Beloved Zim little was done about roads countrywide. Most roads were relegated to dongas of which i wish the platinum proceeds be channelled to roads surfacing and resurfacing,allweathering of our roads.Shendebvu Tiriwatewe