Zimbabwe Economic News: Zimplats New Mine, $400 mln Solar Plant, Pungwe Hydro Seeks $18 Mln Offshore

Zimplats Conducts Study For New Mine

The country's largest platinum miner Zimplats is conducting a bankable feasibility study for its new Portal 5 mine  scheduled for completion by 2019. Exploration stage for the new mine has been completed and Zimplats is still evaluating the actual cost of the mine but sources close to the development estimate the cost to be in the same region with the current phase two project which cost over $460 mln. Zimplats head of corporate affairs Busi Chindove confirmed the development - Herald, Friday April 18

Read more: Zimbabwe Economic News: Zimplats New Mine, $400 mln Solar Plant, Pungwe Hydro Seeks $18 Mln Offshore

Zimbabwe Economic News: $210 Mln Invested in ABC Bank, Derbyshire Quarry Bought, NMB Funds Infrastructure Projects

International investor pours $210 mln into ABC Holdings

The banking sector yesterday witnessed the biggest equity transaction since dollarisation when a high-profile foreign investor, Atlas Mara Co-Nvest, moved to inject $210 mln into ABC Holdings to acquire a majority stake in the banking group. This is a strong sign of confidence in efforts by the Government to turnaround the economy.

Read more: Zimbabwe Economic News: $210 Mln Invested in ABC Bank, Derbyshire Quarry Bought, NMB Funds...

Zimbabwe Economic News: $100 Mln Indian Facility, Cam & Motor to Start Operations, Agribank Microfinance, Turnall US$8m SA Deal

Zim to Benefit from $100 Mln Indian Facility

Zimbabwean companies will be able to purchase equipment from India through a $100 mln credit facility that the Asian country has availed. Industry and Commerce Minister Mike Bimha said the Zimbabwe government would be the guarantor to the local companies seeking to utilise the facility.

Read more: Zimbabwe Economic News: $100 Mln Indian Facility, Cam & Motor to Start Operations, Agribank...

Zimbabwe Economic News: Mwana Ramps up Nickel Sales, ZTA Hosts UK Media Delegation & Natfoods Reopens Mutare Mill

Mwana Ramps up Nickel Sales

Pan African miner Mwana Africa Plc (Mwana) says nickel in concentrate sales from its Zimbabwe-based Trojan miner went up 76% more to 2 651 tonnes in the quarter ended December 2013. During the period under review, Trojan owned by the group's subsidiary Bindura Nickel Corporation (BNC) - recorded a 74% growth in revenue to $24.5mln, driven by the enhanced sales volumes.

Read more: Zimbabwe Economic News: Mwana Ramps up Nickel Sales, ZTA Hosts UK Media Delegation & Natfoods...