Page 75 - pd276-Oct19-mag-web_Neat

Zimbabwe was well represented in Perth
Zimbabwe sets big by government officials and stakehold-
ers in the mining sector. Zimbabwe Is
Open For Business (ZOB) hosted a panel
2023 ambition discussion addressing the state of play
in Zimbabwe. Moses Panashe from
Quadripoint hosted the session which
included thoughts from Stanbic Bank’s
Isabella Nyoka, Lavan, partner, corpo-
ews had just broken that former Zim- 2023,” Chitando said.
Nbabwe president Robert Mugabe had “The country is underexplored and we rate services team, Krista Bates, Zim-
passed away as the country’s Minister of are looking for capital to come in to under- babwe Minister of Mines Hon Winston
Mines Hon Winston Chitando and business take exploration in Zimbabwe. We have Chitando, Chamber of Mines President
leaders gathered to speak about investment over 40 minerals, but less than 10 are being Elizabeth Nerwande, Invictus Energy Ltd
opportunities in the southern African nation. extracted. managing director Scott Macmillan and
Respectfully, despite the high ranking “Those minerals have not been exploited, Zimplats Holdings Ltd chief executive
officials present for Africa Down Under in simply because the capital has not been Alexander Mhembere
Perth not receiving official confirmation of flowing.”
Mugabe’s passing on September 6, a mo- Investment from ASX companies in Zim- A review of the Mining Act is under way
ment’s silence was called during the Zimba- babwe’s resources sector has been steady, and the Chamber of Mines is not expecting
bwe Is Open For Business forum. with the likes of lithium hopeful Prospect any surprise moves to be made.
After serving as Prime Minister of Zim- Resources Ltd, Invictus Energy Ltd, Lati- “Things are improving well in terms of the
babwe from 1980-1987, Mugabe followed tude Consolidated Ltd and Zimplats Hold- dialogue between the chamber and gov-
on with a presidential reign that lasted until ings Ltd just some of the entities actively ernment. The 12 Billion Vision is a shared
2017. engaged in the country. value and it’s time for us and not them to re-
There were triumphant scenes in Zimba- Zimplats, market capped at $1 billion and alise that vision,” Chamber of Mines Presi-
bwe when Mugabe was deposed by now trading at $9.85/share on the ASX at the dent Elizabeth Nerwande said.
President Emmerson Mnangagwa and the time of print, is committed to Zimbabwe, Chitando said the Government was de-
Zimbabwe is open for business theme be- with chief executive Alexander Mhembere termined to deliver policy consistency and
gun. telling delegates the platinum-focused clarity and welcomed ongoing communica-
Mining is an industry Zimbabwe has high company was looking for further opportuni- tions with all relevant stakeholders in Zim-
hopes for, with the Government setting it- ties in the country. babwe’s mining sector.
self ambitious targets with its 12 Billion Min- The positive sentiment expressed by While there is progress being made in
ing Industry Vision 2023 policy. Mhembere was repeated by Invictus man- Zimbabwe, Chitando also acknowledges
“We made $US2.7 billion in 2017 [from aging director Scott Macmillan who said the issues that must be faced.
mining] and we want $US12 billion by there was dynamic change occurring in Delivering a sustainable currency to the
Zimbabwe. economy is one such challenge as is pro-
Invictus is an oil and gas ex- viding security of power, to which Chitando
ploration company, which has made assurances.
250,000 acres in the Cabora “Suffice to say that the issues of power
Bassa basin, northern Zimba- will be a thing of the past,” Chitando said.
bwe, previously explored by Mo- Power shortages and load shedding are
bil Oil. current day-to-day concerns in Zimbabwe
“There has been great cultural with the impact of drought crippling the use
and legislative change, which of hydropower.
has made it easier to invest in Chitando said there were measures in
Zimbabwe,” Macmillan said. place to ensure that Zimbabwe would be
The Government has recog- self-reliant for power by 2023.
nised it must provide investors
with an enabling environment – Mark Andrews
and indications are that it is on
the right path.
Hon Winston Chitando
aUSTRaLIa’S PaYDIRT OCTOBeR 2019 Page 75