Great Dyke Investments (GDI) Ltd. said it will invest around 400 million dollars to build a precious metals and smelter mine in Zimbabwe as the country opens to international business. The joint venture between JSC Afromet of Russia and Pen's East Ltd of Zimbabwe, is hoping to produce up to 855,000 ounces (27 tonnes) of platinum group metals and gold per year from the Darwendale PGM project. Its deposit, with a total resource of approximately 1,300 tonnes of platinum group metals (PGMs), is part of the Great Dyke in Zimbabwe and the largest asset in the world of PGM, according to firms in a statement.


Zimbabwe is the third largest platinum producer at 445,000 ounces last year, behind South Africa and Russia, according to the World Platinum Investment Council.
GDI’s chief executive Igor Higer expects the project will double the production of PGMs in Zimbabwe. He is one of several investors who have spent more than 100 million dollars, which entitles them to special terms.
The mine life after project ramp-up to full capacity is estimated at 35 years.
“According to our estimates the investment in the first phase, the project construction is $400 million,” said Hepsina Rukato, chairman of the GDI board of directors.
The companies said that the initial infrastructure of roads, storage and residential facilities has been built.
The project is expected to create around 8,000 highly skilled jobs at full capacity.
PricewaterhouseCoopers and SFA Oxford provide analytical support to the project. Cresco Project Finance and EY have been engaged as financial advisers.Räägi sõbrale... #AFRICA ... spill TEA ABOUT THE TOPIC ABOVE.... Easy on Shade #jaiyeorie