Russia eyes Zimbabwe mining industry

Russian investors said they are interested in investing in Zimbabwe’s mining industry, particularly the platinum sector.
Russians were currently mining gold and diamonds in Zimbabwe.
“We already have a number of Russian companies operating in the country concentrating mostly in the mining sector. We have a lot of areas where we feel we can partner the Zimbabwe government by investing in such as platinum mining,” said Russia’s Industry and Trade Minister Denis Manturov who led a business delegation from his country to Zimbabwe.
Zimbabwe's Ministry of Mines and Mining Development minister Obert Mpofu confirmed that the Russians had enquired about platinum mining in Darwendale.
“They also have an interest in the energy sector where they would like to set up power stations. So we discussed about those opportunities and some of the challenges involved and how to resolve them,” he was quoted as saying by a state radio.
A Bilateral Investment Protection and Promotion Agreement (BIPPA) between the two countries was also signed last Sunday.
This was expected to further stimulate investment and trade between the two countries.
Trade between Russia and Zimbabwe increased from $1.5 million in 2009 to $5.5 million last year.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished