Zimbabwe awards concession for platinum exploration
Bravura Holdings, in which Nigerian billionaire Benedict Peters is a major shareholder, will mine platinum on Zimbabwe’s mineral-rich Great Dyke
Harare — Zimbabwe has awarded a concession to explore for and mine platinum to a company linked to a Nigerian billionaire as the country speeds up investment in a mining sector it hopes will transform the country’s struggling economy. The concession comes just over a year after President Emmerson Mnangagwa’s government signed an agreement with Cyprus-based Karo Resources to develop a $4.2bn integrated platinum mine. Zimbabwe is seeking to quickly exploit its reserves of platinum, which is used in catalytic converters for limiting emissions at a time when vehicle manufacturers are moving to electric cars powered by lithium batteries. The information ministry said Bravura Holdings, in which Nigerian billionaire Benedict Peters is a major shareholder, would, on Thursday, sign an agreement to mine platinum on Zimbabwe’s mineral-rich Great Dyke. It did not give details.
Peters, who is based in Ghana, is the founder of Aiteo Group, which has interests in oil.Mines minister Winston C...