|Zimbabwe’s mining industry is emerging as a main source of investments after receiving project applications from foreign investors worth US$500 million in 2014.
There is a renewed positive investor sentiment for the resources sector with latest data from the Zimbabwe Investment Authority reflecting that several investors are scouting for fresh business opportunities in the resources industry.
The data, which also shows that mining investment applications accounted for 50 percent of the US$1 billion worth of foreign direct investments ( FDIs) last year, indicates that foreign investors are mainly interested in the gold, platinum, chrome, nickel, diamond and coal mining units.
While over half of the value for the mining sector’s investment applications for the year under review are becoming a reality, an economist Zacks Murerwa says Zimbabwe’s mining industry’s recovery will depend on the ability by the investors to inject funds on the establishment of refinery plants.
“More will have to be done as we seek to ensure that the projects are really implemented so it is a matter of time before we can see more,” said Murerwa.
Investors from Europe, the Middle East, Asia and South America are also understood to be finalising their project proposals to venture into the capital intensive but viable mining industry.
Some of the investors are looking at strategic alliances or joint ventures with existing mining firms to inject fresh capital in exchange for minority shares.