BRAVURA Holdings Ltd., owned by Nigerian billionaire Mr Benedict Peters, has US$1 billion available for the development of a platinum mine in Zimbabwe, its country manager said.<\/p>\n
The 3 000-hectare (7,413-acre) concession where it plans to dig the mine is in Selous, 80 kilometers (50 miles) south of Zimbabwe\u2019s capital Harare and close to existing platinum mines.<\/p>\n
\u201cFrom where we are now, we will go to resource definition, after that we will go to resource modeling, after mine development and then mine construction,\u201d Lionel Mhlanga, Bravura\u2019s manager in the southern African country, said in a recent interview at the mine.<\/p>\n
\u201cThose are all things that should happen in the next 18 months.\u201d<\/p>\n
Bravura is one of a number of little-known companies that have secured platinum concessions in Zimbabwe as the Government seeks to kick start its stagnant economy. Still, established platinum miners have not announced plans to expand their operations.<\/p>\n
While Zimbabwe has the world\u2019s third-largest platinum group metal reserves, investors have been deterred by frequent changes to mining laws and currency policies. In addition to Bravura, Russian and Cypriot companies have announced plans to invest in Zimbabwean platinum mines.<\/p>\n
Peters owns Aiteo Eastern E & P Company Ltd., Nigeria\u2019s biggest domestic oil producer, but has little experience in mining. Still, the group also intends to explore mining lithium, rare earth minerals and tin in Zimbabwe, Mhlanga said. It is also seeking to mine cobalt in the Democratic Republic of Congo, copper in Zambia, gold in Ghana and iron ore in Guinea, he said. Namibia and Botswana could also be options for the company, he said.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
BRAVURA Holdings Ltd., owned by Nigerian billionaire Mr Benedict Peters, has US$1 billion available for the development of a platinum mine in Zimbabwe, its country manager said. The 3 000-hectare (7,413-acre) concession where it plans to dig the mine is in Selous, 80 kilometers (50 miles) south of Zimbabwe\u2019s capital Harare and close to existing […]<\/p>\n","protected":false},"author":84,"featured_media":30002,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[239],"class_list":{"0":"post-30001","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-economic-chaos"},"yoast_head":"\n