Agriculture and Mining key drivers for economic growth in Zimbabwe in 2017
Agriculture and mining have been identified as key drivers for the overall economic growth of Zimbabwe in 2017, say business executives and economists.
Finance Minister Patrick Chinamasa identified that economic growth in Zimbabwe is expected to be around 1.7 percent in 2017, a significant increase from the 0.6 percent of 2016.
“Agriculture and mining are to driver overall growth, with sector growth of 123 eprcent and 0.9 percent respectively in 2017,” he said.
Zimbabwe is currently facing “strong headwinds” with regards to its current financial climate, though a focus on long term prospects and investments in the agriculture and mining sectors have allowed corporates to earmark boosted operations and a growth in productivity.
Two companies that have been identified as key players in 2017 are Impala Platinum and Bindura Nickel Corp (BNC).
Impala Platinum has two main operations across the Great Dyke in Zimbabwe through Zimplats and Mimosa. Zimplats is 87 percent owned by Implats and has four underground mines and a concentrator at Ngezi. Mimosa has reserves of around 1 million ounces of platinum with a production scale of 117,400 ounces per annum.
Through Zimplats, a joint venture with Aquarius, Impala has a shallow underground mine on the Zimbabwean Great Dyke close to Bulawayo. There are reserves of around 3.9 million ounces of platinum, with a production scale of 190,000 ounces of platinum.
Bindura Nickel Corporation
Bindura Nickel Corporation is 75.4 percent owned by Mwana Africa and has been listed on the Zimbabwean Stock Exchange since 1971.
The company owns and operates the Shangani and Trojan nickel mines, which have hoisting and treatment capacity of 1.0Mt and 1.1Mt a year respectively.
Shangani remains on care and maintenance. BNC also owns the large Hunters Road nickel deposit which is a pre-development nickel project.
BNC also owns the Bindura Smelter and Refinery complex which is being re-opened to produce high quality nickel cathodes, copper sulphide and cobalt hydroxide. Alongside material from the Trojan and Shangani mines, the plant has toll treated nickel concentrates and nickel matte from third parties to utilise spare capacity. Current smelter capacity is 17,000tpa and for the refinery 14,500tpa. Construction of an oxygen injection plant was completed in 2008.
BNC also owns the large Hunters Road nickel deposit which is a pre-development nickel project.
Batirai Manhando, Managing Director of Bindura Nickel Corporation, says the company is expecting to complete the smelter project in the next financial year.
The January 2017 issue of Mining Global is live!
Get in touch with our editor Dale Benton at firstname.lastname@example.org
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