Zim, Russia sign $3 billion platinum mine deal

Sep 16, 2014 12:00 AM

Zimbabwe and Russia have signed a $3 billion deal to develop a platinum mine in Darwandale, targeting production of 250,000 ounces annually within three years, a presentation by the Zimbabwean ministry of mines ministry showed.

The presentation said the mine would have peak production of 800,000 ounces a year, which should help Zimbabwe produce 1 million ounces annually in five years time.

President Robert Mugabe and Russian Foreign Minister Sergey Lavrov oversaw the signing of the agreement in Darwendale, 70 kilometres west of Harare.

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