By Chathushka Perera
Kabuja, Nigeria (CWBN)_BRAVURA Holdings Ltd., owned by Nigerian billionaire Benedict Peters, has committed US$1 billion to invest in a platinum mine in Zimbabwe, its country manager said.
The 3 000-hectare (7,413-acre) land, the planned site of the mine is situated in Selous, 80 kilometers (50 miles) south of Zimbabwe’s capital Harare and which is closer to existing platinum mines.
“From where we are now, we will go to resource definition, after that we will go to resource modeling, after mine development and then mine construction,” Lionel Mhlanga, Bravura’s manager in the southern African country, said in a recent interview as quoted by a local newspaper.
“Those are all things that should happen in the next 18 months.”
Bravura is one of the lessor- known companies that has secured platinum concessions in Zimbabwe since the Government aims at kick starting its stagnant economy. Still, the established industry players have not announced their intentions to expand their mining operations in the area.
Although Zimbabwe has the world’s third-largest platinum metal reserves, investors have been reluctant to make substantial investments in the industry due to the prevailing mining legislations and present policies. Besides Bravura, other companies such as those from Russian and Cypriot have revealed their plans to invest in Zimbabwean platinum mines.
Nigeria’s biggest domestic oil producer
Peters owns Aiteo Eastern E & P Company Ltd., Nigeria’s biggest domestic oil producer. However it has very little experience in the Mining Industry. Despite being a newcomer, the company is willing to explore mining lithium, rare earth minerals and tin in Zimbabwe, Mhlanga said. The company is also to mine cobalt in the Democratic Republic of Congo, copper in Zambia, gold in Ghana and iron ore in Guinea, he said. Namibia and Botswana could also be some of the options for the company, he said.
Edited by Elishya Perera
