Nigerian billionaire owner of Bravura Holdings Ltd, Benedict Peters, will invest $1bn in the development of a platinum mine in Zimbabwe, the company said.
Bravura Holdings Ltd Manager, Lionel Mhlanga, said the project would be executed over the next 18 months.
Mhlanga said, “From where we are now, we will go to resource definition, after that we will go to resource modeling, after mine development and then mine construction.
“Those are all things that should happen in the next 18 months.”
The company received a concession from the Zimbabwean government, while it plans to carry out the activity in 3,000 hectare in Selous.
The location is about 80 kilometers from the capital, Harare and close to established platinum miles.
The Nigerian billionaire who also owns Aiteo Eastern E and P Company Ltd, also eyes exploring mining lithium, rare earth minerals and tin in Zimbabwe.
The company said it will venture into mining copper in Zambia, cobalt in the Democratic Republic of Congo, gold in Ghana, also iron ore in Guinea.
Mhlanga said the company sees Namibia and Botswana as another mining option.
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