Maravi

(NEWZIMBABWE) Over 60 minerals discovered, official

Over 60 minerals discovered, official
17/07/2012 00:00:00
by Business Reporter

ZIMBABWE has so far discovered over 60 different minerals which are ready for exploration by all interested investors, a senior government official said on Tuesday.

"Zimbabwe offers a huge opportunity for mining investors, including diamonds, iron, platinum, gold, nickel, coal and many others," Prince Mupazviriho, permanent secretary in the ministry of mines in Zimbabwe, told delegates at a two-day African Mining congress in Johannesburg, South Africa.

Mupazviriho said the minerals are diverse enough to accommodate all types of mining investors adding that alluvial mining of gold, for instance, had a potential for high returns at reduced costs since the gold deposits lie just beneath the surface.

"We have a huge potential for the platinum. The geology of Zimbabwe is highly conducive to nickel deposits. There are also huge deposits of chrome. The country's coal deposits are estimated at 20 billion tonnes," said the government official.

He challenged those who want to invest in mining to grab the opportunities available in Zimbabwe.

Mupazviriho however, expressed concern energy supply challenges saying "the national electricity requirement is about 2,200 megawatts, but the country is only able to generate 1, 200 megawatts." Still, those who want to invest in the energy sector could take advantage of huge coal deposits and venture into thermal energy production.

The country’s also offering a number of incentives to mining investors. "There is 10 percent discount on mining taxes and rebate duty is guaranteed on all capital goods imported for mining development," he said.

The Chamber of Mines of Zimbabwe also called on international investors to bring the latest exploration technology to Zimbabwe.

[Bring it yourself. You don't need foreign investors or their money. You're sitting on trillions of dollars in mineral deposits. - MrK]

"There is a lot of potential in the Zimbabwe mining industry. Zimbabwe has not been subjected to the latest exploration technology available and from that perspective there are a lot of opportunities in terms of exploration," said Chamber president, Winston Chitando.

Labels: MINING

posted by MrK @ 3:19 PM