Zimbabwe, Russia Sign $4 Billion Platinum Mine Deal
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Zimbabwe has signed an agreement with Russia to build a new platinum mine in the southern African country, finalizing a deal that’s stalled since 2014.
A deal to develop a new platinum-group metals mine on a prospect held by Great Dyke Investment, a company jointly owned by a Russian state-controlled company and Zimbabwe’s government has been sealed, Polite Kambamura, the nation’s deputy mines minister said. The deal hadn’t progressed since an initial agreement in 2014, Kambamura said, declining to disclose the shareholding structure. He said the mine and associated infrastructure will cost $4 billion.