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Mining deal signed

22 Mar 2018 at 15:57hrs | Views

Zimbabwe has signed $4,2 billion platinum  This is the largest investment structure in the country's mining industry. The landscape of Zimbabwe's mining industry will never be the same again.

Mines Minister Hon Chitando today said the new platinum venture will produce 1.4million ounces of PGMs at full capacity by 2023

Mines Minister Hon Chitando said Karo will be fully compliant with the indigenization and empowerment legislation from the start. Interestingly the deal could have been sealed in 2013.

Tharisa Plc came to set up the project but were frustrated by a number of things including corruption.

In January the Tharisa boss met President Mnangagwa and today they have penned the largest investment deal in the mining industry in Zimbabwe

Karo Resources Official said that this project has a potential to grow Zimbabwe's GDP by 20% and employ 15000 when fully operational.

Zimbabwe is  getting there slowly and going through a new economic phase. It is attracting more investors since the ouster of the former President Robert Mugabe. The government's commitment to nip corruption in the bud has also changed the face of the economy which has been spiralling downwards.

The country is rich in natural resources and can only find its economic prowness if it is run by trusted people. Corruption and looting of these natural resources has been the order of the day. It has been eating and shredding the moral fibre of the country.  

Facebook- Leonard Koni

Source - Leonard Koni
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