‘Grab the low-hang­ing fruits’

The Sunday Mail (Zimbabwe) - - NEWS - Sun­day Mail Re­porter

MINES and Min­ing Devel­op­ment Min­is­ter Mr Win­ston Chi­tando has urged in­vestors to swoop on re­dun­dant and moth­balled mines, which present low-hang­ing op­por­tu­ni­ties for brown­field in­vest­ments.

At the Min­ing In­vest­ment Round­table themed “Zimbabwe: Min­ing list­ings — the new chap­ter”, hosted by Fi­nan­cial Mar­kets Ind­aba in part­ner­ship with Thomp­son Reuters in Lon­don last week, Min­is­ter Chi­tando also out­lined plans to in­crease an­nual gold pro­duc­tion from 27 tonnes to 100 tonnes.

“The min­is­ter de­liv­ered a pre­sen­ta­tion which high­lighted the pos­i­tive pol­icy changes im­ple­mented so far by the Gov­ern­ment in the min­ing sec­tor.

“In this pre­sen­ta­tion he stressed that Zimbabwe was ready to en­gage the in­ter­na­tional in­vestor com­mu­nity and de­scribed the quan­tum size of min­ing op­por­tu­ni­ties across the dif­fer­ent com­modi­ties.

“The min­is­ter also noted that re­dun­dant and moth­balled mines are an im­por­tant op­por­tu­nity for cap­i­tal re­quire­ments. He high­lighted that Joint ven­tures with ZMDC have so far proven to be suc­cess­ful,” said Mr Pa­trick Mu­zondo, busi­ness devel­op­ment ex­ec­u­tive for Fi­nan­cial Mar­kets Ind­aba.

Min­is­ter Chi­tando was ac­com­pa­nied Zimbabwe’s Deputy Am­bas­sador to the UK Mr Ce­cil Chinenere.

The meet­ing pro­vided the min­is­ter with the op­por­tu­nity to dis­cuss key is­sues on reg­u­la­tion, pol­icy, gov­er­nance and the ease of do­ing busi­ness with in­vestors.

The round­table hosted other no­table speak­ers such as Rhona O’Con­nell, head of met­als re­search and fore­casts for Thom­son Reuters, who pro­vided a view on the out­look of min­ing com­modi­ties; and Mr Roy Pitch­ford, ex­ec­u­tive chair­per­son of Con­tago Hold­ing plc, who spoke on lisitng Zimbabwe min­ing com­pa­nies on for­eign bourses.

Emer­gent Cap­i­tal Man­age­ment, host of the min­ing round­table through sub­sidiary Fi­nan­cial Mar­kets Ind­aba, is an in­vest­ment ad­vi­sory and pri­vate man­age­ment firm with of­fices in Harare, Johannesburg and Lon­don.

The Fi­nan­cial Mar­kets Ind­aba is an in­vest­ment con­ven­ing plat­form that con­nects project de­vel­op­ers, lenders, in­vestors, pro­mot­ers and busi­nesses to pro­mote in­vest­ment in Africa and Zimbabwe.

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