The Zimbabwean mining industry is desperately short of electricity and despite welcoming mining investment and expediting projects, it needs a fourfold increase in power. At the second annual Harare Indaba in Johannesburg, delegates heard the encouraging message of investment doors opening in Zimbabwe by Polite Kambamura, the country’s deputy minister of mines & mining development,  but there were deep-seated concerns among the 50 delegates about the local currency, the ability to expatriate profit, the inability to secure a full, market-related gold price and electricity supply. While Zimbabwe is host to the world’s second-largest known platinum group metal deposit after SA, the industry has remained constrained because of damaging government policies and actions under former president Robert Mugabe, but Kambamura spoke of new entrants wanting to start mines in the next few years. The deeply damaging indigenisation policy giving Zimbabweans, in the form of the government, investors...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now