Zimbabwe attracts two new investors to develop platinum mining projects (Reuters U.S. – April 17, 2019)


MHONDORO-NGEZI, Zimbabwe (Reuters) – Zimbabwe will in coming weeks name two new investors who will develop separate platinum mining projects west of the capital as the country ramps up mining output in an attempt to ease a severe dollar shortage, the mines minister said on Wednesday

The southern African nation has the second largest platinum deposits after South Africa and hopes to transform its economy by boosting investment in the mining sector.

Winston Chitando said the two investors would be confirmed in the next few weeks, joining a sector where Anglo American Platinum and Impala Platinum already operate.

Chitando, who was speaking at a function in Mhondoro Ngezi, 100 km west of Harare, where Cypriot Investor Karo Resources was giving an update on its $4.2 billion mining project, declined to give details.

Zimbabwe has been introducing investor-friendly policies as part of President Emmerson Mnangagwa’s ambitions to transform the country into a middle-income economy by 2030.

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