Zimbabwe: Mining firm seeks foreign investment

Published Jan 28, 2015

Share

ZIMBABWE’S state-owned mining company is in negotiations to persuade foreign investors to inject $50 million (R571.75m) into three of its gold mines. “We’re still talking to investors; nothing concrete has been finalised,” mining development general manager Wilson Chinzou said yesterday. “Maybe within a month or two we should have concluded something.” Chinzou’s comment comes after Harare-based news agency, the Source, reported that ZMDC expects to close two deals next month to raise $50m. The investment would recapitalise ZMDC’s Jena, Sabi and Elvington gold mines, the agency said. The state-owned mining company, which has gold, diamond and copper operations, is also talking with a potential investor to revive the Kamativi tin mine, closed about 20 years ago. – Bloomberg

Related Topics: