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No handouts to investors in Zimbabwe, says Mutsvangwa
18 Mar 2023 at 06:31hrs | Views
Under President Mnangagwa, there are no handouts to investors, who are all welcome from any part of the world at own risk, Zanu-PF Secretary for Information and Publicity Cde Christopher Mutsvangwa has said.
Addressing a press conference at the revolutionary party headquarters yesterday, Cde Mutsvangwa said although Zimbabwe is focused on attracting investors, there is no free lunch.
"Zimbabwe has since focussed on attracting private capital of intrepid Chinese businessmen, who include the leading global billionaires in lithium, ferrochrome, steel and coal are all in Zimbabwe at own risk. No handouts by President Mnangagwa. Rather these are mining claims publicly traded in Sydney ASX and Toronto TSX," he said.
Zimbabwe, said Cde Mutsvangwa, landlocked as it is, cannot compete with other countries with access to the seas, hence it had to innovate.
"Furthermore, inland locked Zimbabwe can never compete in exporting raw ores of chrome or iron ore with sea blessed countries like Australia, Brazil, South Africa, Indonesia, India or Turkey.
"That's why it has opted for a Carbon Steel Ecosytem at Manhize. Wherein the close parameter co-location of iron ore, chrome, coking coal and limestone give issue to globally most affordable carbon steel.
"It‘s a no brainer that this is the highest form of value addition of ores. No ore is destined for offshore destinations for pure costs of business logistics," he said.
On the other hand, Cde Mutsvangwa said lithium, which is dubbed as the white gold has attracted billionaire global majors.
"They are advanced in setting up processing ore to battery grade lithium carbonate, hydroxide or sulphate. It‘s more advisable for American Congressmen to atune themselves to mining realities in Zimbabwe.
"Stereotype yarns steeped in prejudices of discredited ‘yellow peril‘ diatribes will only serve to disinform their otherwise competent and enterprising entrepreneurs," he said.
Addressing a press conference at the revolutionary party headquarters yesterday, Cde Mutsvangwa said although Zimbabwe is focused on attracting investors, there is no free lunch.
"Zimbabwe has since focussed on attracting private capital of intrepid Chinese businessmen, who include the leading global billionaires in lithium, ferrochrome, steel and coal are all in Zimbabwe at own risk. No handouts by President Mnangagwa. Rather these are mining claims publicly traded in Sydney ASX and Toronto TSX," he said.
Zimbabwe, said Cde Mutsvangwa, landlocked as it is, cannot compete with other countries with access to the seas, hence it had to innovate.
"Furthermore, inland locked Zimbabwe can never compete in exporting raw ores of chrome or iron ore with sea blessed countries like Australia, Brazil, South Africa, Indonesia, India or Turkey.
"It‘s a no brainer that this is the highest form of value addition of ores. No ore is destined for offshore destinations for pure costs of business logistics," he said.
On the other hand, Cde Mutsvangwa said lithium, which is dubbed as the white gold has attracted billionaire global majors.
"They are advanced in setting up processing ore to battery grade lithium carbonate, hydroxide or sulphate. It‘s more advisable for American Congressmen to atune themselves to mining realities in Zimbabwe.
"Stereotype yarns steeped in prejudices of discredited ‘yellow peril‘ diatribes will only serve to disinform their otherwise competent and enterprising entrepreneurs," he said.
Source - The Herald
