Zimbabwe's Finance and Economic Development Minister Patrick Chinamasa and Mines and Mining Development Minister Walter Chidhakwa are in Moscow this week seeking investors for Zimbabwe's mining sector. The visit is in response to invitations from the Russian authorities, reports the state-run Herald cited by Diamondintelligence.com.
A number of Russian companies operate in Zimbabwe's mining and extractive sectors. One company, DTZ-OZGEO (Private) Limited is jointly owned by the Development Trust of Zimbabwe (DTZ) and a Russian company, Econedra Limited, and is involved in gold mining in Penhalonga and diamond mining in Chimanimani. Russian diamond conglomerate Alrosa is also reportedly seeking a joint-venture partner to carry out geological explorations in Marange.
A number of other Russian firms are also involved in Zimbabwe's platinum, gold, nickel and copper sectors.
Minister Chinamasa told The Herald Business before he left that while they are in Russia they will also explore joint venture opportunities in mineral exploration.
This comes as government is in the final stages of reviewing and reforming the 2004 guidelines on joint ventures so as to avoid uncertainties and delays in the processing of projects and to instill confidence in foreign investors that want to partner with local companies, said Minister Chinamasa while addressing members of the Institute of Chartered Accountants of Zimbabwe (ICAZ) last week.
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