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Kuvimba s US$5 2m dividend payout shows mining giant s growing influence
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Gold mine hits 300kg mark in one month - Zimbabwe Situation
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State pushes ahead with its toxic zone
COMMENT
The flawed public participation process of the proposed mega-toxic Musina-Makhado Special Economic Zone (MMSEZ) left people in the dark about its negative livelihoods and environmental risks.
The dirty energy metallurgical cluster centres on a huge coal plant for mineral extraction and processing, of which, according to the MMSEZ’s master operational plan, 70% of what is produced is destined for China. The list of proposed industries includes a coal washery, a coking plant, a thermal plant, a ferrochrome plant, a ferromanganese plant, stainless steel, high manganese steel and vanadium steel plants as well as lime and cement plants.
There are big plans for two mining interests in Zimbabwe; GDI and Kuvimba.
David Brown’s association with Zimbabwe’s mining sector dates to his six years as CEO of Impala Platinum (Implats), which ended in 2012. During that time, he met with then president Robert Mugabe to end a dispute between the government and Implats regarding certain mineral rights.
Brown is now back in the country as non-
executive chairman of Great Dyke Investments
(GDI), a company backed by private Russian
interests that is hoping to raise $550m for a
platinum group metals (PGM) mine, Darwendale.
His day job, however, is with another entity, an emergent gold miner, Kuvimba Mining House, a rather grandiloquent-sounding company that has the support of Zimbabwean President Emmerson Mnangagwa.
Mineral exports surge 27pc to surpass target
Ishemunyoro Chingwere
Zimbabwe’s mineral exports, excluding gold and silver, for the year 2020 surged by 27 percent, earning the country US$2,4 billion, the Minerals and Marketing Authority of Zimbabwe (MMCZ) has said.
“Up to December 2020, we managed to surpass target; we had a total sales value of US$2,4 billion against a budget of US$1,86 billion,” MMCZ general manager said in an interview.
“We have done relatively well. We are 29 percent above budget for this year and compared to 2019 we are 27 percent better off.”
This sets Zimbabwe on course of achieving a US$12 billion mining economy in the next two years, said Mr Muzenda.
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