Bravura Holdings, owned by Nigerian billionaire Benedict Peters, is to invest $1bn to develop a platinum mine in Zimbabwe.
The company plans to mine the mine at Selous, 80km (50 miles) south of Harare, covering 3, 000 hectares (7, 413 acres), close to existing platinum mines.
Bravura's country manager in South Africa, Lionel Mhlanga, said in an interview at the mine on 6 November: "From where we are now, we will go to the resource definition phase, and then we will go to the resource modeling phase, then the mine development, then the mine construction.
"These are things that should happen in the next 18 months."
Bravura is one of a number of little-known companies to have acquired platinum franchises in Zimbabwe as the government tries to jumpstart the country's stagnant economy.
But established platinum miners have yet to announce plans to expand their operations.
Although Zimbabwe has the world's third-largest reserves of platinum metals, frequent changes in mining regulations and currency policy have put investors off.
In addition to Bravura, Russian and Cypriot companies have announced plans to invest in A Zimbabwean platinum mine.
Mr. Peters owns Aiteo Eastern E & P Company Ltd., Nigeria's largest domestic oil producer, but he has little experience in mining.
Mhlanga said it also intended to explore for lithium, rare earth and tin deposits in Zimbabwe.
It is also seeking cobalt in the Democratic Republic of Congo, copper in Zambia, gold in Ghana and iron ore in Guinea.
Namibia and Botswana are also possible options.
PUDA mine packing machine:
PUDA is specialized in automatic quantitative packaging machine for powder, granule, particle, pelleted, sliced, flaked, bulk materials.
Qinhuangdao Puda Electronic Co., Ltd , which provides automatic intelligent packaging solutions, is an automatic equipment manufacturing enterprise integrating R&D, manufacturing and sales of equipment. With a high-tech team engaged in the research and development and manufacturing of automation equipment, adhering to the concept of knowledgeable and dense, sincere service, from design and development, production and manufacturing to after-sales service, to professional technology, first-class quality service in all industries; Up to now, the strength and product quality of the company have been highly recognized by the industry. Welcome friends from all walks of life to visit, guidance and business negotiations.
PUDA machinery has been exported to more than 50 countries and regions.
Our customers are from different industries from mineral, metallurgy, agriculture, Industrial chemical to food.
We have built long-term cooperation with many of those leading brands with our service.
