World welcomed to invest in Zimbabwean mining: official
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Zimbabwe
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Economie et Finances
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Zimbabwe has so far discovered over 60 different minerals which are ready for exploration by all interested investors, a visiting Zimbabwean government official said on Tuesday.
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"Zimbabwe offers a huge opportunity for mining investors, including diamonds, iron, platinum, gold, nickel, coal and many others," Prince Mupazviriho, permanent secretary in the ministry of mines in Zimbabwe, told delegates at a two-day African Mining congress in Johannesburg.
The Zimbabwean government official said alluvial mining of gold in Zimbabwe has a potential for high returns at reduced costs since the gold deposits lie just beneath the surface.
Mupazviriho said the minerals are diverse enough to accommodate all types of mining investors. "We have a huge potential for the platinum. The geology of Zimbabwe is highly conducive to nickel deposits. There are also huge deposits of chrome. The country's coal deposits are estimated at 20 billion tonnes," said the government official.
He challenged those who want to invest in mining to grab the opportunities available in Zimbabwe.
However, the official alluded to the energy challenges to be faced in Zimbabwe, saying "the national electricity requirement is about 2,200 megawatts, but the country is only able to generate 1, 200 megawatts."
Mupazviriho called on those who want to invest in energy in Zimbabwe to take advantage of huge coal deposits and venture into thermal energy production.
He said Zimbabwe is also offering a number of incentives to mining investors. "There is 10 percent discount on mining taxes and rebate duty is guaranteed on all capital goods imported for mining development," he said.
The Chamber of Mines of Zimbabwe also called on international investors to bring the latest exploration technology to Zimbabwe.
"There is a lot of potential in the Zimbabwe mining industry. Zimbabwe has not been subjected to the latest exploration technology available and from that perspective there are a lot of opportunities in terms of exploration," said Winston Chitando, President of Chamber of Mines of Zimbabwe.
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