October 4, 2022
Russia exits Zimbabwe's biggest platinum project

Russia’s Vi Holding has pulled out from Zimbabwean platinum company Great Dyke Investments, marking a new challenge for Zimbabwe’s biggest platinum project, reported Bloomberg News.

Located on the mineral-rich Great Dyke of Zimbabwe, the long-delayed project was expected to have a peak production capacity of 860,000oz of platinum group metals (PGM) a year.

The publication cited an email from Great Dyke as saying that the Russian company exited from the JV. However, the reason for the shareholding change remains undisclosed.

Meanwhile, Kuvimba Mining House also failed to attract fresh investment for the mining project as European buyers are considering moving away from projects involving Russian shareholders, reported Bloomberg News citing the people with knowledge of the matter.

» continue to Mining Technology