Breaking News

Zimbabwe geared for fresh phase of Australian investment

by Yolanda Torrisi - Chairperson of The African Mining Network
07 February 2013 | 4678 Views
One of Africa's most promising mineral states, Zimbabwe, has urged Australian mining companies to lift their exposure to the southern African province where only 40 of its known 60 mineral commodities have been commercially exploited.

The opportunity for Australia also rests with the potential to add to upstream and downstream processing sectors in Zimbabwe and in key areas for which Australian miners and resource investors are renowned, such as coal, gold, iron ore and uranium.

Zimbabwe's Deputy Mines and Development Minister, the Honourable Gift Chimanikire, who visited Australia in the second half of last year to attend the Africa Down Under conference in Perth, said the Zimbabwean economy was now recovering from its eight year slump and mining was now a key plank in driving the country's 9.3% growth last year. Mining contributed 13% in 2011 to Zimbabwe's GDP and more than 60% of its total earnings.

"For Australian investors, they need only look at mining's 25.8% growth in 2011 and an anticipated growth in the sector this calendar year of 16.7%," Gift Chimanikire said. "Yet despite our huge mineral endowment, upstream and downstream exploitation has been limited.

"Of our more than 4000 recorded gold deposits, nearly all are on ancient workings, revealing inherent investment opportunities in vastly under-explored areas away from the ancient workings. More than 90% of Zimbabwe's gold deposits are in greenstone belts associated with some of the richest gold mines in the world.

"If I look at Australia-Zimbabwe commodity comparisons, Zimbabwe hosts large reserves of thermal and coking coal with some 29 locations hosting estimated resources of more than 12 billion tonnes of coal – yet more require capitalisation and, therefore need a partner.

"We also have huge iron ore deposits, like Australia, with lead deposits estimated to host more than 30 billion tonnes of iron reserves – yet most await full exploitation. And in uranium, we have done some minor work in the Zambezi Valley and that at a time of low prices so the global market presents good opportunity for uranium upside."

The Zimbabwean Government is prepared to enter into joint venture partnerships with Australian investors and has an open door policy to such investment. Gift Chimanikire said: "While the Government has provisions for local empowerment as part of any new investment deals struck, it is in an environment of ensuring community participation in the exploitation of our natural resources.

"We provide for mining companions to have the right to market their mineral directly, and there is no restriction on the amount of foreign currency that can be brought into Zimbabwe to crystallise new resources investment."




Investments of more than US$100 million will qualify for special mining leases.

Particularly requiring Australian investment are the mining operations in Zimbabwe suffering from under-capitalisation, with most mines in need of such financial injection operating only slightly above 50% capacity.          
 
----------
Yolanda Torrisi is a much-respected mining industry leader who founded The ASIA Miner magazine. Now as Chairperson of The African Mining Network, Yolanda comments on African mining issues and the growing global interest in the African continent.  To contact Yolanda email yolanda@yolandatorrisi.com 


Australia Mining Yolanda Investment


Disclaimer:
All articles and letters published on Bulawayo24 have been independently written by members of Bulawayo24's community. The views of users published on Bulawayo24 are therefore their own and do not necessarily represent the views of Bulawayo24. Bulawayo24 editors also reserve the right to edit or delete any and all comments received.

Source: www.graphicmail.co.za

Could there be war if Grace Mugabe becomes President?

Yes
75.91%
No
9.12%
Who cares?
14.96%
274

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

Mapostori erect blair toilet near borehole - AS HARARE is battling wit...

by Mirirai Nsingo | 23 October 2014 | 30 Views

Wife locked inside - A SEEMINGLY insecure husband has been accused of ...

by Blessing Masakadza | 23 October 2014 | 86 Views

Let's help Grace to destroy ZANU (PF) evil - The power of the people m...

by Vince Musewe | 23 October 2014 | 413 Views

Burglar removes asbestos sheets off the roof to gain entry

by Staff Reporter | 23 October 2014 | 422 Views

Grace Mugabe throws weight behind Mnangagwa?

by Staff reporter | 23 October 2014 | 1095 Views

So the So-Called Political Scientist Professor Was Lying to the Nation...

by Concerned Citizen | 23 October 2014 | 1018 Views

Malema caught on CCTV attacking a white man in a takeaway

by Staff Reporter | 23 October 2014 | 1526 Views

Grace drags Mugabe into 'dirty' Zanu PF factionalism

by Ndou Paul | 23 October 2014 | 1892 Views

Timeline of Zanu-PF bigwigs accidents - Zimbabwe's Justice minister Em...

by Staff reporter | 23 October 2014 | 1441 Views

Phillip Chiyangwa guns for Mliswa's job - ZANU-PF bigwigs, pushing for...

by Staff reporter | 23 October 2014 | 1078 Views

Mnangagwa in 'high spirits' after surviving a car accident - JUSTICE M...

by Staff reporter | 23 October 2014 | 1287 Views

Resign today or else..., Grace Mugabe warns Mujuru

by Staff Reporter | 23 October 2014 | 3889 Views

Chaos in the offing for MDC-T congress - ATTEMPTS to restructure the c...

by Staff reporter | 23 October 2014 | 1360 Views

'Jonathan Moyo is the inventor of Zanu-PF confusion' - Jealousy Mawari...

by Staff reporter | 23 October 2014 | 2522 Views

Grace Mugabe meets War Vets, as it happened - First Lady Dr Grace Muga...

by Staff Reporter | 23 October 2014 | 3827 Views

Prof Gatsheni's rendition on Mthwakazi's colourful history - Agenda4Ac...

by Thembani Dube | 23 October 2014 | 1555 Views

Crunch time for Mugabe

by Staff reporter | 23 October 2014 | 4013 Views

Highlanders slapped with $3000 fine

by Staff reporter | 23 October 2014 | 1490 Views

Tobacco farmers should opt for other crops

by Peacemaker Zano | 23 October 2014 | 1376 Views

Smear campaigns intensify ahead of MDC-T congress

by Staff reporter | 23 October 2014 | 1785 Views

Police assault, detain Newsday reporter - Police in Harare yesterday a...

by Staff reporter | 23 October 2014 | 2105 Views

'No death sentence on women' - Concourt yesterday admitted that death ...

by Staff reporter | 23 October 2014 | 1130 Views

Bhobho to replace Madzongwe - Zanu-PF wants Women's League deputy secr...

by Staff reporter | 23 October 2014 | 2767 Views

Temba Mliswa in no man's land

by Staff reporter | 23 October 2014 | 2728 Views

Bribery scam rocks Zanu-PF - In a dramatic twist to the worsening Zanu...

by Staff reporter | 23 October 2014 | 2714 Views

Stop abusing Grace Mugabe, says war vets

by Staff reporter | 23 October 2014 | 3013 Views

Panic hits Mujuru camp

by Staff reporter | 23 October 2014 | 4975 Views

Plumtree - Mutare highway almost complete - Rehabilitation of the Plum...

by Staff reporter | 23 October 2014 | 1488 Views

Entertainment

Carl Joshua Ncube to star in game show - Comedian Carl Joshua Ncube wi...

by Staff reporter | 23 October 2014 | 455 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 1082 Views

Zim representative in the Big Brother Africa survives eviction - Zimba...

by Staff reporter | 20 October 2014 | 2531 Views

Grace Mugabe's political comedy takes ZTV hostage - For the past two w...

by Staff reporter | 20 October 2014 | 4883 Views

Oliver Mtukudzi to deliver lecture at Musica 2014 - Zimbabwe's interna...

by Staff reporter | 19 October 2014 | 1446 Views

Gezha maoko - Ladybee (Official Video)

by Staff Reporter | 19 October 2014 | 2498 Views

Matebeleland Music & Arts Festival - Sivala umnyaka ngengoma lapho sit...

by Staff Reporter | 17 October 2014 | 1696 Views

Obediah Matulana releases Christmas DVD - Bulawayo-based musician Obed...

by Staff reporter | 16 October 2014 | 1977 Views
iBlog

Advanced Systemcare Free To Optimize The Os Still Support Xp

the update systemcare free 7.3.0.456 (a set of tools to optimize the operating system) – now available.advanced systemcare is a free package to optimize, tweak, fix bugs and improve the overall performance of the operating system.the program anal... Read More
ITnews 02 June 2014 ago

The Zero-day Vulnerability Cve-2014-4114 Impacting All Versions Of Microsoft Windows

new microsoft windows zero-day vulnerability - cve-2014-4114on tuesday, october 14, 2014, isight partners - in close collaboration with microsoft - announced the discovery of a zero-day vulnerability impacting all supported versions of microsoft win... Read More
SecNews 16 October 2014 ago