Breaking News

Zimbabwe geared for fresh phase of Australian investment

by Yolanda Torrisi - Chairperson of The African Mining Network
07 February 2013 | 4710 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
74.22%
No
9.06%
Who cares?
16.72%
640

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

The Rise and rise of 'Dr' Grace Mugabe

by Bokani Mlindelwa | 01 November 2014 | 758 Views

Biti, Ncube edging closer towards a merger - TWO splinter formations o...

by Staff Reporter | 01 November 2014 | 670 Views

'This is our last congress in opposition,' says Tsvangirai - THE MDC-T...

by Staff reporter | 01 November 2014 | 497 Views

Biti and his MDC-Renewal group cowards, says Tsvangirai - MDC-T leader...

by Staff reporter | 01 November 2014 | 491 Views

Tsvangirai parroting 'Mugabe's mentality' - MDC leader, Welshman Ncube...

by Staff reporter | 01 November 2014 | 602 Views

A Ten Trillion Zimdollar Bill auctioned for charity - The auction sale...

by Staff reporter | 01 November 2014 | 598 Views

Mujuru faction supporters fired - Alleged Vice-President Joice Mujuru...

by Staff Reporter | 01 November 2014 | 3069 Views

'Even marriages do fail' president Mugabe says - PRESIDENT Robert Muga...

by Staff Reporter | 01 November 2014 | 1398 Views

MDC-T will survive 'palace coup' unlike Zanu-PF's 'bedroom coup' Tsvan...

by Staff Reporter | 01 November 2014 | 1435 Views

State media rebuked for negative news on Mujuru - Zanu-PF secretary fo...

by Staff Reporter | 01 November 2014 | 1366 Views

Zanu-PF differences did not shake the house to its core - I think a qu...

by Nathaniel Manheru | 01 November 2014 | 1148 Views

Bosso forgives Charles Sibanda - CHARLES Sibanda has been given a lif...

by Ricky Zililo | 01 November 2014 | 768 Views

Bosso, Chiredzi match moved to Monday - HIGHLANDERS FC's league match ...

by Sikhumbuzo Moyo | 01 November 2014 | 471 Views

'Chiwenga is Grace Mugabe's brother': Claims

by Staff Reporter | 01 November 2014 | 2888 Views

Death threats over maintenance order - A Harare man is reportedly thre...

by Prosper Dembedza | 01 November 2014 | 531 Views

Macheso, hubby to have cellphone relationship - Sharon Macheso and her...

by Lovemore Meya | 01 November 2014 | 904 Views

Top cop resigns under unclear circumstances - Senior police officer Co...

by Staff reporter | 01 November 2014 | 1266 Views

Mugabe caps 1 063 at GZU - President Mugabe yesterday conferred degree...

by Staff reporter | 01 November 2014 | 373 Views

Woman lashes at magistrate over maintenance - A BULAWAYO provincial m...

by Lethokuhle Moyo | 01 November 2014 | 577 Views

Sugar mummy infects Ben10 with HIV - ONE of the boys who teamed up wit...

by Leonard Ncube | 01 November 2014 | 1375 Views

Prostitute jailed for false rape report - A GWANDA prostitute will spe...

by Marvelous Moyo | 01 November 2014 | 638 Views

Policeman assaults noisemakers - A POLICE officer based at Luveve Poli...

by Plaxcedes Hove | 01 November 2014 | 581 Views

Macheso, hubby officially separate - SHARON Macheso and her husband Ku...

by Lovemore Meya | 01 November 2014 | 643 Views

Granny granted maintenance - AN abusive 68-year-old Entumbane man was ...

by Lethokuhle Moyo | 01 November 2014 | 398 Views

Police raid squatter camp, 40 arrested - POLICE raided Killarney squat...

by Loveness Bepete | 01 November 2014 | 489 Views

Mugabe speech after Politburo - Audio - ...

by Staff reporter | 01 November 2014 | 765 Views

Mujuru on the ropes - Vice President Joice Mujuru's camp was left on ...

by Felex Share and Lloyd Gumbo | 01 November 2014 | 790 Views

Steward Bank lose $300,000 to robbers - STEWARD Bank formerly TN has l...

by Munyaradzi Musiiwa | 01 November 2014 | 707 Views

Tsvangirai confirms working with some in Zanu-PF - MDC-T leader Mr Mor...

by Staff reporter | 01 November 2014 | 1307 Views

Entertainment

Dr Zobha escapes jail by whisker over maintenance - Veteran radio and...

by Tendai Rupapa | 01 November 2014 | 904 Views

Our hands are clean, says DJ Munya

by Court reporter | 31 October 2014 | 2825 Views

Oliver Mtukudzi to get 'real' PhD - ICONIC musician Oliver Mtukudzi is...

by Staff reporte | 30 October 2014 | 3276 Views

Zimbabwe's JJ survives Big Brother Africa eviction... again - Zimbabw...

by Staff reporter | 27 October 2014 | 2245 Views

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

by Staff reporter | 23 October 2014 | 1655 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 4399 Views
iBlog

Those Behind Tb Joshua Watch Photo Proof!

when this couple (dave and angie) were indicted of being the masterminds behind tb joshua watch, the blog admins refuted it and denied any sort of connections with the couple, but that’s not what the facts portray as precisely every single one ... Read More
pointblank 13 July 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