ZMDC investment, technical teams tour closed mines

The Zimbabwe Mining Development Corporation has dispatched technical and investment teams to tour closedportable salt milling machine mines and assess what could be expected from would-be investors.

ZMDC says it wants to resuscitate Kamativi, copper miner Mhangura and two mines in Mashava and Zvishavane that fall under SMM, the empire seized from businessman Mutumwa Mawere eight years ago. Godwills Masimirembwa, ZMDC board chairman, told Standardbusiness last week that there were investors who had shown interest in the closed mines. He said the teams would make a report to be presented to the ministry in the shortest possible time. The tour comes soon after Mines and Mining Development minister, Obert Mpofu, revealed recently that ZMDC had been given the mandate to revive the mines through partnerships with investors. Masimirembwa said ZMDC had shortlisted three investors for Mhangura; three for Kamativi and two for SMM’s two mines in Mashava and Zvishavane. The investors are drawn from South Africa and the Far East. According to the proposals, investors would work with ZMDC on a 50-50 joint venture to...