Zimbabwe’s Great Dyke platinum venture sells stake to Fossil
Fossil, owned by Zimbabwe’s Obey Chimuka, will invest $30m in Russian-backed project
07 December 2020 - 22:02
Great Dyke Investments, a Russian-backed project planning to build Zimbabwe’s biggest platinum mine, has sold a 4.4% stake to Fossil Mines as Covid-19-disrupted fundraising for the venture.
Fossil, owned by Zimbabwe’s Obey Chimuka, will invest $30m in the Darwendale project, through a combination of cash and services, including for engineering, procurement and construction. That leaves tycoon Vitaliy Machitski’s Vi Holding and Zimbabwe’s Landela Mining Venture each with a 47.8% stake. The sale values Great Dyke Investments at $680m...
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