Zimbabwe Economic News: Batoka Gorge Hydro-Electricty Project, Mwana Africa considers restarting nickel smelter, Nestle injects $14 mln into Zim business

AfDB to finance Zim power project

The Batoka Gorge hydro-electricity project has been given priority status and will tap into the $20 bln vehicle set up by the African Development Bank to finance key infrastructure projects on the continent, the regional bank has said. The vehicle will be unveiled during the bank's annual meetings in the Marrakech this week - NewsDay, Thursday May 30

Mwana considers restarting nickel smelter

Mwana Africa Plc, a producer of nickel, gold and diamonds, is considering restarting its nickel smelter in northeastern Zimbabwe after a drop in prices eroded profit margins on supplying the metal as concentrate.

Mwana's Bindura site is the only integrated nickel mine, smelter and refinery operation in Africa, according to the London-based company's website. The price of nickel for delivery in three months has dropped 13% to $14 840 a metric tonne since the start of 2013 in London Metal Exchange trading - NewsDay, Thursday May 30

Nestle injects $14 mln into Zim business

Swiss-based food giant Nestle has injected $14 mln into its Zimbabwean operations which will go towards new and ongoing capital projects this year. Head of corporate communications Farai Munetsi said the capital expenditure includes the construction of a new building to accommodate offices and a quality assurance laboratory at its Harare factory - Fingaz, Thursday May 30