Breaking News

Zimbabwe Mining Development Corporation in bid to revive Shabanie Mashava Mine

by Staff Reporter
27 February 2013 | 4844 Views
Government's mining arm, the Zimbabwe Mining Development Corporation (ZMDC) says it has intensified the search for a strategic partner for the resuscitation of Shabanie Mashava Mine (SMM).

The parastatal, which took over the running of the asbestos mining concern, says it is in the process of scouting for equity partners for the resuscitation of the mine.

US$120 million is needed for the mine to become operational.

ZMDC General Manager, Engineer Jerry Ndlovu, who highlighted the strain by the asbestos mining company on the financial performance of the parastatal said ZMDC has no capacity to meet the capital requirements in the resuscitation process, hence the hunt for an investing partner.

"The parastatal has no capacity on its own to see the full operationalisation of the mining concern. Since we took over, we have attempted to bring sanity in the operations but the required amount is beyond the parastatal capacity and to that end, we are in the process of engaging strategic partners," he said.

Eng. Ndlovu said apart from engaging potential investors, the parastatal is also considering acquiring a credit line from both local and international financiers.

According to the ZMDC boss, the entity has however invested substantial amount in the upgrading of some section of the existing infrastructure including the refurbishment of the brittle plant at a cost of US$2 million.




Before suspending operations, SMM used to produce an estimated 200 000 tonnes of fibre every year.

If fully operational, SMM can employ thousands of people.


Shabanie Mashava Mine

Source: zbc

Does Prophet Magaya's anointing oil work?

Yes
17.51%
No
70.24%
Spiritual matters
12.25%
457

Comments

News Updates

Email:

Latest News

Nkosana Moyo joins Implats board - Former Industry and International T...

by Mafu Sithabile | 05 March 2015 | 1155 Views

Bulawayo commissioned a new suburb - Emhlangeni - BULAWAYO City Counci...

by Lulu Brenda Harris | 05 March 2015 | 1457 Views

Thieves wreck havoc eNkulumane - NKULUMANE residents are unable to res...

by Senzeni Ncube | 05 March 2015 | 1269 Views

Professor Jonathan Moyo on state of education sector - This week's Big...

by Professor Jonathan Moyo | 05 March 2015 | 820 Views

Bulawayo City Council to conduct own census - BULAWAYO City Council (B...

by Staff reporter | 05 March 2015 | 389 Views

Zimbabwe opposition must change from confrontation to cooperation - It...

by Dr Tapiwa Shumba | 05 March 2015 | 558 Views

Education Ministry explains Schools Performance Rankings - THE DEPUTY ...

by Staff Reporter | 05 March 2015 | 663 Views

Rapist pastor's trial opens - The trial of Abundant Life Global Minist...

by Staff reporter | 05 March 2015 | 729 Views

Mugabe pays tribute to resilient civil servants - President Robert Mug...

by Staff reporter | 05 March 2015 | 1139 Views

Tsvangirai engages Gweru - Movement for Democratic Change President...

by Luke Tamborinyoka | 05 March 2015 | 984 Views

Why was Trevor Ncube refused a radio licence? - THE MOVEMENT for Democ...

by Staff reporter | 05 March 2015 | 1207 Views

MDC-T calls for disbandment of BAZ over radio licensing scandal - THE ...

by Staff reporter | 05 March 2015 | 546 Views

Broadcasting Authority of Zimbabwe should immediately be disbanded ...

by Obert Chaurura Gutu | 05 March 2015 | 458 Views

50c bond coins expected by end of March - Reserve Bank of Zimbabwe (RB...

by Staff reporter | 05 March 2015 | 619 Views

ZUJ condemns death threats on NewsDay reporter - The Zimbabwe Union o...

by Staff Reporter | 05 March 2015 | 710 Views

Report govt vehicles abusers to police - Obert Mpofu

by Tholakele Zhou | 05 March 2015 | 1085 Views

Construction of $6,5 million Chipinge shopping mall commences

by Chris Chinamhora | 05 March 2015 | 946 Views

SA to suspend maize exports to Zimbabwe - Zimbabwe could be forced to ...

by Staff reporter | 05 March 2015 | 1557 Views

Not obtaining 5 O-Levels does not mean failure, Minister says - PRIMAR...

by Tholakele Zhou | 05 March 2015 | 2009 Views

BCC channel $200 000 to its soccer team - BULAWAYO City Council-sponso...

by Tholakele Zhou | 05 March 2015 | 1891 Views

Some Pentacostal churches are Satan's agents - I grew up knowing relat...

by T Musiyamwa | 05 March 2015 | 3558 Views

'ZBC licence inspectors unleashed near State House'

by Byo Resident | 05 March 2015 | 3121 Views

Bulawayo firms get debt extension relief

by Tholakele Zhou | 05 March 2015 | 1011 Views

BCC seek funding from Mauritius - BULAWAYO City Council has turned to ...

by Tholakele Zhou | 05 March 2015 | 948 Views

Adding 'ICE' to your cell phone can save a life

by Staff Reporter | 05 March 2015 | 1531 Views

Gamatox nonexistent party - The United Movement for Democratic Change ...

by Mandlenkosi Chinula | 05 March 2015 | 2081 Views

UMDC Provincial Launches to follow up - The United Movement for Democr...

by Mandlenkosi Chinula | 05 March 2015 | 604 Views

Why the United MDC? - The coming together of Green and Orange under th...

by Nqgabutho Mabhena | 05 March 2015 | 1085 Views

Entertainment

Skyz Metro FM promises to shake airwaves - SKYZ Metro FM, the newly li...

by Senzeni Ncube | 05 March 2015 | 558 Views

TV Programme Concepts Requirements - Dear independent producers,Thank ...

by Staff reporter | 03 March 2015 | 1679 Views

Fireworks expected on the Easter Weekend in UK

by Staff Reporter | 03 March 2015 | 1253 Views

DStv annual price increase effective 1 April 2015 - MultiChoice Afric...

by Mafu Sithabile | 02 March 2015 | 3882 Views

Popular Zim dancehall chanter arrested for fraud

by Liberty Dube | 27 February 2015 | 4671 Views

Group pens song for Mugabe - A 7-member group from Acturus has release...

by Staff reporter | 21 February 2015 | 2112 Views

Mathias Mhere saga takes new twist - Gift Mahlupeka, who allegedly che...

by Staff reporter | 20 February 2015 | 11161 Views
iBlog

The Nsa Gets An Ok For Telephony Metadata Collection Yet Again

As much as we’d like to forget about the national security agency (nsa) and its mass surveillance program, it seems that there is no distracting ourselves from this unnerving reality.missing from the news for quite some time now, the issue has resu... Read More
SecNews 09 July 2014 ago

Auslogics Boostspeed 7 - More Powerful And User-friendly Than Ever

Auslogics boostspeed 7 - more powerful and user-friendly than ever!wondering how to fix slow computer performance? experts recommend auslogics boostspeed 7 - the most comprehensive system optimization software! auslogics boostspeed 7 is here!the bran... Read More
ITnews 26 August 2014 ago