Zimbabwe- Russia Platinum Project to Continue as Planned

The African Export-Import Bank has completed a due diligence study allowing it to proceed with a $500 million syndicated funding program.  Great Dyke Investments, owned by Russia’s Vi Holding and Zimbabwean investors, is seeking $2 billion project to complete the project.

The Darwendale project, which lies 65 kilometers (40 miles) from the capital Harare, is central to the Zimbabwean government’s plans to revive its stagnant economy. The country has the world’s third-biggest platinum reserves after South Africa and Russia.

Commissioning of the mine could begin in 2023 if they are able to obtain the necessary funding. The Great Dyke Project is expected to produce 860,000 ounces of platinum group metals and gold a year.