Zimbabwe gold and platinum
by Tawanda Karombo
A Chinese delegation visiting
Zimbabwe was keen to invest in the
almost-bankrupt country's gold and platinum
sector according to reports.
China is courting Zimbabwe for investment and
exploration opportunities in the gold and
platinum mining sectors following a visit there
by the Chinese deputy minister of Commerce and a
22 member delegation comprising experts in the
mining, exploration and trade sectors.
The delegation, led by Deputy Minister Gao
Hucheng met Zimbabwe's cabinet yesterday.
Sources who attended the meeting said the
Chinese deputy minister expressed China's
interest and capability to pursue exploration
activities in Zimbabwe, especially in the area
of gold and platinum.
"Amos Midzi, (Zimbabwe's Mines and Mining
Development minister) was delighted after
meeting the delegation from China as he told the
mining and exploration experts from the visiting
Chinese delegation that government would be
delighted to forge partnerships in the mining
sector," a source who attended the meeting said.
Contacted for comment, Midzi said: "The visit
has been very helpful as we have agreed to what
the delegation has asked for from us. They want
gold and platinum mining exploration and
investment opportunities and we are willing as
government to partner them because they are
sincere investors," he said.
President Robert Mugabe, who attended the
signing, hailed the Chinese for standing by his
government, which has been shunned by Britain,
the United States and other Western nations,
which accuse him of human rights abuses, rigging
elections and ruining the economy.
"This friendship is rooted in a formidable
relationship ... but we now need to embark on
developing this relationship of co-operation
with programmes that would enhance and continue
what we have built over the years," Mugabe is
reported to have said during the meeting in
The Chinese have already entered into Zimbabwe's
mining sector after a Chinese mining and trading
group Sinosteel Corp bought a stake in Zimasco
Consolidated Enterprises Ltd, the holding
company for Zimbabwe's largest ferrochrome
Zimasco produces 210,000 tonnes of high carbon
ferrochrome annually, accounting for about 4
percent of global ferrochrome production.
State-owned Sinosteel and Zimasco inked the deal
on Sept. 19 last year.
"The deal will benefit the trade cooperation
between the two countries, and help local
economic development, create employment
opportunities, and promote social stability in
Zimbabwe," Sinosteel said at the time when the
deal was struck.
China's investment invasion of Africa has been
met with widespread reaction, with some doubting
the sincerity of China's spending on African