Mashaba Mine secures $14m for reopening
MASHABA Asbestos Mine in Mashava is set to reopen after the firm managed to mobilise $14 million for recapitalisation, amid indications that more than 1 400 direct jobs will be created when operations reach full throttle.
The company is part of Shabanie-Mashaba Mine, which was Zimbabwe’s sole asbestos producer before operations stopped more than 10 years ago.
The new administration led by President Mnangagwa has been working round the clock to re-open big companies such as Mashaba Mine that have potential to earn millions of dollars in hard currency through exports and creating thousands of jobs directly and indirectly.
Mashaba Mine chief executive Mr Chirandu Dhlambeu last week revealed they had secured part of the $53 million required to fully recapitalise the mine.
He was addressing a delegation led by Masvingo Provincial Affairs Minister Senator Josaya Hungwe that toured the mine.
Mr Dhlambeu said Mashaba Mine’s reopening would contribute immensely to the economic development of Masvingo and the national economy at large once full operations resume.
He said demand for asbestos remained high on the international market after some traditional fibre producers stopped output of the mineral.
“We only need $20 million to kick-start operations at Mashaba Mine, said Mr Dhlambeu.
“We would be operating at 50 percent capacity due to financial constraints, then increase as we are fully recapitalised.
“Before any further exploration, the ore at King Mine here in Mashava will enable us to produce 75 000 tonnes of fibre per year.
“The ore that is there can sustain the mine for the next 17 years. We are confident that the new political dispensation will allow Mashaba Mine to return to its yesteryear glory.
Mr Dhlembeu said the asbestos ore at Mashaba Mine had many other minerals that could be tapped to support its recapitalisation.
Some of the minerals were being sold to sustain the skeletal staff presently working at the closed mine.
“We have nickel, chrome, manganese seams within Mashava,” said Mr Dhlambeu.
“We also have our dump site where we can produce the fibre that we want and we will be able to export it to get the muchneeded foreign currency.
“We have also raised some of the required capital from our tenants such as the Great Zimbabwe University. We have so far raised $4 million and we are planning to raise more money through sale of residential land here in Mashava.’’
Masvingo Provincial Affairs Minister Senator Hungwe hailed Mashaba Mine staff for their efforts towards the resuscitation of the mine.
“I am happy with the strides that you are making to see our mine working again, said Minister Hungwe.
“President Mnangagwa has asked us to identify sectors we feel need to be urgently resuscitated for our people to get employment here in Masvingo and Mashaba was our first company.
We also have Cold Storage Company that is lying idle in Masvingo city.”
Sen Hungwe said CSC would be recapitalised by the National Social Security Authority soon.
“NSSA will pour money into CSC and I am told by the management of the company here that it needs about $14 million to resume full operations,” he said.
Mashaba Mine is undergoing de-watering to enable production to resume in the waterlogged shafts.
Ndou picked a rock and tried to hit Mutileni again, but was restrained.
Mutileni was taken to Dhavata Clinic and was referred to Chikombedzi Mission Hospital where he died on the following day.