A Nigerian billionaire is planning to mine platinum in Zimbabwe

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A Nigerian billionaire is planning to mine platinum in Zimbabwe 53 shares ABU MUBARIK Nov 12, 2020 at 11:30am  SHARE November 12, 2020 at 11:30 am | MONEY MOVES Abu Mubarik ABU MUBARIK  FULL BIOCLOSEFacebook Twitter LinkedIn EmailNovember 12, 2020 at 11:30 am | MONEY MOVESSupport Pan-African Journalism SUBSCRIBE FULL BIO MOST POPULAR RECENT ARTICLES FULL BIO Abu Mubarik is a journalist with years of experience in digital media. He loves football and tennis.  MOST POPULAR RECENT ARTICLES A Nigerian billionaire is planning to mine platinum in Zimbabwe New fund to invest $250 million in Black-owned banks Former presidential candidate Kanye West sued for $1 million in unpaid wages Kenya beats South Africa to be named Africa’s leading tourist destination 53 shares Bookmark Facebook Twitter LinkedIn Pinterest WhatsApp Email Comment 53 shares  Nigerian oil tycoon to invest $1 billion in Zimbabwe platinum mine. Photo: benedict-peters.com Bravura Holdings Ltd., owned by Nigerian billionaire Benedict Peters, plans to invest $1 billion in a platinum mine in Zimbabwe. The 3,000-hectare platinum concession is located in Selous, south of Zimbabwe’s capital Harare, according to Bloomberg.  The country manager for Bravura in Zimbabwe, Lionel Mhlanga, said the company is undertaking pre-mining works and that actual mining will commence in the next one and half years.  “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,” he said. “Those are all things that should happen in the next 18 months.”  MORE ABOUT THIS Morris Brown set to become first HBCU to earn its accreditation back 20 years after losing it Former presidential candidate Kanye West sued for $1 million in unpaid wages Kenya beats South Africa to be named Africa’s leading tourist destination After becoming a millionaire in June, Tanzanian miner earns $2m for another rare gem He added that the group intends to explore mining lithium and tin in Zimbabwe as well as cobalt in the Democratic Republic of Congo, copper in Zambia, gold in Ghana, and iron ore in Guinea. He added that Namibia and Botswana could also be options for the company.  Platinum, which currently trades at $889, is used in making jewelry and electronics. It is a traded commodity on various commodity exchanges worldwide.  Zimbabwe has the world’s third-largest platinum group metals in the world. The administration of President Emmerson Mnangagwa has been keen to revive the country’s mine sector which saw little investment in the last days of former President Robert Mugabe. Frequent change in mining laws in the southern African country has also deterred investors.  “Zimbabwe is open for business and whoever stands in the way, hurting business in this country, will fall. It is not business as usual anymore, things have to change,” Mnangagwa declared in 2018.  Nigerian billionaire Peters also owns Aiteo Eastern E&P Company Limited that manages integrated energy companies. The company focuses on refining, supply, and marketing of petroleum products, exploration, production, bulk storage, as well as offers power generation and distribution services.  In 2018, Peters was presented with the illustrious ‘Africa’s Oil and Gas Leader of the Year’ award at the 2018 Forbes’ Best of Africa Gala held in New York. The award was given to Peters in recognition of his distinguished service to the African oil and gas sector.  Forbes also acknowledged the commitment Peters has shown to improve the lives of citizens of local communities through his philanthropic projects.  You May Also Like:   Want more Global Black News? Click Here to Subscribe to our Youtube Channel for Video Interviews and Features! Enter email address to receive updates from Face2face Africa Enter email address to receive updates from Face2face Africa SUBSCRIBE JOIN THE CONVERSATION SHARE YOUR THOUGHTS  YOU MAY ALSO LIKE  A Nigerian billionaire is planning to mine platinum in Zimbabwe  New fund to invest $250 million in Black-owned banks  Kobe Bryant: Late basketball star’s childhood home sold for $810K  Layla Wallace, the 15-year-old whose cupcake shop is making a big difference in Michigan

Nigerian oil tycoon to invest $1 billion in Zimbabwe platinum mine. Photo: benedict-peters.com

Bravura Holdings Ltd., owned by Nigerian billionaire Benedict Peters, plans to invest $1 billion in a platinum mine in Zimbabwe. The 3,000-hectare platinum concession is located in Selous, south of Zimbabwe’s capital Harare, according to Bloomberg.

The country manager for Bravura in Zimbabwe, Lionel Mhlanga, said the company is undertaking pre-mining works and that actual mining will commence in the next one and half years.

“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,” he said. “Those are all things that should happen in the next 18 months.”

He added that the group intends to explore mining lithium and tin in Zimbabwe as well as cobalt in the Democratic Republic of Congo, copper in Zambia, gold in Ghana, and iron ore in Guinea. He added that Namibia and Botswana could also be options for the company.

Platinum, which currently trades at $889, is used in making jewelry and electronics. It is a traded commodity on various commodity exchanges worldwide.

Zimbabwe has the world’s third-largest platinum group metals in the world. The administration of President Emmerson Mnangagwa has been keen to revive the country’s mine sector which saw little investment in the last days of former President Robert Mugabe. Frequent change in mining laws in the southern African country has also deterred investors.

“Zimbabwe is open for business and whoever stands in the way, hurting business in this country, will fall. It is not business as usual anymore, things have to change,” Mnangagwa declared in 2018.

Nigerian billionaire Peters also owns Aiteo Eastern E&P Company Limited that manages integrated energy companies. The company focuses on refining, supply, and marketing of petroleum products, exploration, production, bulk storage, as well as offers power generation and distribution services.

In 2018, Peters was presented with the illustrious ‘Africa’s Oil and Gas Leader of the Year’ award at the 2018 Forbes’ Best of Africa Gala held in New York. The award was given to Peters in recognition of his distinguished service to the African oil and gas sector.

Forbes also acknowledged the commitment Peters has shown to improve the lives of citizens of local communities through his philanthropic projects.




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