January vol 30 2011, Featured Articles, Business , Financial and Property Indaba
Massive mineral wealth exposed
HARARE - Beneath Zimbabwe’s blood-soaked soil lies fabulous wealth which, if transparently and expertly exploited, could put an end to unemployment, poverty and disease and turn the country into one of the most prosperous on the African continent. A secret document in our possession, prepared by the Zimbabwe Investment Authority (ZIA), shows that the country is sitting on 2.8 billion tonnes of platinum, 26 billion tonnes of coal and 30 billion tonnes of iron ore, not to mention extensive diamond deposits. The document has been distributed secretly in an attempt to woo international investors. Despite this huge wealth, investors are still hesitant to put their money into Zimbabwe because of Zanu (PF)’s continued anti-western rhetoric, the indigenisation law, disregard for the rule of law and property rights, and massive corruption. According to the document, Zimbabwe also has a staggering 16.5 million tonnes of diamonds especially in the Chiadzwa area in Manicaland, Murowa Diamonds and at the controversial River Ranch near Beit Bridge. There are 13 million tonnes of gold deposits in Bindura, Kadoma, Mudzi, Mvuma and Kwekwe. "Opportunities exist throughout the whole mining cycle from exploitation, mining production, marketing and downstream activities," the document says. "There are also opportunities for joint venture partnerships in existing low capacity running projects as well as new ventures.”. The country has the largest methane reserves in southern Africa as well as 5.2 million tonnes of copper, 930 million tonnes of chromite and 4.5 million tonnes of nickel.
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MINERAL WEALTH IN AFRICA
Saturday, January 22, 2011 ALBERT
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