Tag: Zimbabwe

Industry and Commerce Minister Mr Welshman Ncube said that there are no sticking issues to the transfer of mining rights to Essar Global which acquired a 60% stake in Ziscosteel from the Zimbabwean government. However, Minister Ncube said that it was only a matter of time before the government transferred the mining and prospecting rights over Ripple Creek and Mwanesi Range to the Indian steel company. He said that “As far as I know there are no sticking points because all the matters are covered by specific Cabinet resolutions, the mining claims whether it is on the Ripple Creek or Buchwa, they agreed they have already written letters for the transfer of those.

Essar plans to spend up to USD 4 billion in constructing a steel plant to process iron ore from Zimbabwe's Mwanesi resource within the next five years. According to Welshman Ncube, the industry and commerce minister of Zimbabwe said that this would be the biggest single foreign investment 

Niger Uranium Limited will invest ZAR 25 million for nickel exploration in South Africa and Zimbabwe in order to garner substantial, low grade but lucrative, open-pittable sulphide nickel mineralization.