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Mining investment indaba on

by Staff reporter
11 Feb 2018 at 07:45hrs | Views
ZIMBABWE will this month hold a mining indaba, which will be attended by major mining global players from America, Europe, Asia and Russia as the country continues to sell its potential to international mining investors, President Emmerson Mnangagwa has said.

Addressing multitudes of Zanu-PF supporters at Mvuma Stadium yesterday, President Mnangagwa said the country will host a mining indaba where it has invited major global players in the mining sector to explore opportunities in the country. President Mnangagwa said the country has so far attracted more than $2 billion of Foreign Direct Investment (FDI) in the mining sector. He said the mining sector was poised for a significant growth.

"I appointed Minister Winston Chitando in the Mining and Mining Development Ministry. He is an expert in that field and so far he has made significant strides in the sector. He was recently in Cape Town for a mining indaba. When he returned he informed me that he is organising a mining indaba that would be attended by investors from all over the world; from Russia, America, India and many others," said President Mnangagwa.

"So far for the two months that he has been Minister, he has brought Foreign Direct Investment of over $2 billion in the mining sector. We are now saying Zimbabwe is open for business. We want the skills that were acquired by Zimbabwean nationals who are in the diaspora to be applied in the country."

President Mnangagwa said the country continues to attract foreign investors who are keen to invest in the country.

"We have so far received $400 million from our people in the diaspora that have invested in the National Railways of Zimbabwe. Recently a Russian billionaire was in the country and is willing to invest in the country and now Aliko Dangote a Nigerian billionaire is back in the country, he came yesterday and he wants business. We were at Davos and we told them that we are open for business. We are also saying in as much as we are open for business pasi ne corruption," he said.

Mr Dangote is a Nigerian billionaire, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries, including Benin, Ethiopia, Senegal, Cameroon, Ghana, South Africa, Togo, Tanzania, and Zambia.

Minister Chitando, in an interview on the sidelines of the event, said all was set for the mining indaba. "The mining indaba will be a two-day event which will start on the 27th of February to the 28th February in Harare. We expect, like the President has said, to have investors from the whole world- East, West and also from Europe. When myself and the team from the ministry went to Cape Town recently we met a number of investors who are coming to the country for the indaba. We expect it to be fully subscribed," he said.

Minister Chitando said the first ever mining indaba was a stepping stone into unlocking investment for the sector and the country at large.

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