Breaking News

Zimbabwe geared for fresh phase of Australian investment

by Yolanda Torrisi - Chairperson of The African Mining Network
07 February 2013 | 3295 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 

Australia Mining Yolanda Investment

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.



News Updates


Latest News

Mugabe, Malema: The lions of Africa - DOES Africa have artificial hum...

by Mutumwa Mawere | 01 December 2015 | 952 Views

Advocate Steve Nkiwane is no more - Zapu (SA)

by Zapu RSA Province | 01 December 2015 | 1646 Views

ORAP donates to schools in Nkayi - Children need to be motivated to wo...

by Bongiwe Nkomazana - ORAP | 01 December 2015 | 634 Views

Entertainment galore at Zanu-PF People's Conference - Ten groups from ...

by Leonard Ncube | 01 December 2015 | 1467 Views

ZTE to set up solar factory in Zimbabwe - ZTE Corporation of China has...

by Staff reporter | 01 December 2015 | 1413 Views

Zanu-PF, MDC-T share $6 million - ZANU-PF and MDC-T will share $6 mill...

by Zvamaida Murwira | 01 December 2015 | 1804 Views

Police arrest, detain five human rights activists in Harare - Police i...

by Stephen Jakes | 01 December 2015 | 959 Views

Minister, MP in near fist fight

by Patrick Chitumba | 01 December 2015 | 2647 Views

Stanbic bank Zimbabwe introduces mortgage loans - STANBIC Bank Zimbabw...

by Brighton Gumbo | 01 December 2015 | 2486 Views

Pensioners pay dates moved again - THE government has moved pay dates ...

by Staff reporter | 01 December 2015 | 1480 Views

High Court stops cops hearings - The Bulawayo High Court has stopped p...

by Mashudu Netsianda | 01 December 2015 | 1152 Views

Bulawayo gets first solar traffic light

by Whinsley Masara | 01 December 2015 | 1428 Views

'Minister a dog' war vet in court - A GWANDA war veteran has been arre...

by Marvelous Moyo | 01 December 2015 | 1422 Views

Chinese billionaire to explore opportunities in Bulawayo - CHINESE bil...

by Innocent Ruwende | 01 December 2015 | 973 Views

Pomp, fanfare for Xi's Zimbabwe visit - CHINESE President Xi Jinping a...

by Nduduzo Tshuma | 01 December 2015 | 803 Views

Zahara to launch new album 'Country Girl' in Zimbabwe - South African ...

by Arts Correspondent | 01 December 2015 | 455 Views

Zanu-PF destroy SDA Church precast wall - Six Zanu-PF members in Chitu...

by Lovemore Meya | 01 December 2015 | 1308 Views

Zanu PF repeated endorsement of Mugabe madness

by Stephen Jakes | 01 December 2015 | 1062 Views

'$100 traffic fine will promote corruption' - Motorists have castigate...

by Abigail Mawonde | 01 December 2015 | 1304 Views

MLF demands intervention of Britain in Matabeleland state issue

by Stephen Jakes | 01 December 2015 | 793 Views

Zimbabweans support Mugabe's govt clampdown on gays - A section of Zim...

by Online Reporter | 01 December 2015 | 563 Views

2016 National budget has nothing for workers - The Zimbabwe Congress...

by Stephen Jakes | 01 December 2015 | 472 Views

Mugabe accused of changing Airport road's name from Joshua Nkomo Express

by Stephen Jakes | 01 December 2015 | 1990 Views

Zanu-PF (UK) asks for more arrest of corrupt public officials

by Stephen Jakes | 01 December 2015 | 421 Views

PDP is not tolerant to violence - People's Democratic Party led by Ten...

by Stephen Jakes | 01 December 2015 | 349 Views

Minister flees angry Mnangagwa allies

by Staff reporter | 01 December 2015 | 1649 Views

Eto'o snubs Zimbabwe invite - Global football star Samuel Eto'o, who w...

by Staff reporter | 01 December 2015 | 1496 Views

Mugabe lashes out at 'miserly' West - President Robert Mugabe yesterda...

by Staff reporter | 01 December 2015 | 700 Views

Chinese courier company to deliver mail in Zimbabwe - ZIMBABWE's State...

by Staff reporter | 01 December 2015 | 591 Views

Fidelis Fengu challenges court's restitution order

by Court Reporter | 01 December 2015 | 650 Views


Zimbabwean comedian launches his new late night show

by Staff reporter | 01 December 2015 | 1102 Views

Bulawayo rapper guns for 7 Awards - The announcement of the 2015 Zimba...

by Showbiz Correspondent | 01 December 2015 | 881 Views

Black Opal Face of Zimbabwe search begins - The search for Black Opal ...

by Showbiz Reporter | 01 December 2015 | 471 Views

Diana Ross's daughter Tracee Ellis Ross joins her on stage at Vegas

by Stephen Jakes | 30 November 2015 | 1261 Views

DJ Sticha drops a national anthem 'Ndiyoyika', sends fans in SA into f...

by Stephen Jakes | 30 November 2015 | 1714 Views

DJ Sticha produced a scintillating hit track for Team Bulawayo

by Stephen Jakes | 29 November 2015 | 1638 Views

Bob Marley family confront Zimbabwe Music Awards

by Bongani Ndlovu | 25 November 2015 | 5176 Views

Hp Omen 15-5116tx – The Next Generation Gaming Laptop

the hp omen 15-5116tx is being targeted at the performance hungry gamers. it comes in a single variant boasting an eye-catching attractive design. the notebook offers a slim, lightweight chassis and appears like a piece of art than an actual gaming... Read More
Sergey 11 June 2015 ago

Five Reliable Outlook Pst File Repair Tools

Outlook pst files can become corrupted -- and when that happens, work grinds to a halt. if your organization relies on outlook, one of these tools could save the day. outlook is the industry standard groupware tool. let's take a look at five that can... Read More
ITnews 04 May 2015 ago