The defunct Kamativi mines are set to be revived after South African investors agreed to enter into a joint venture with the Zimbabwe Mining Development Corporation (ZMDC), a senior government official has said.
Mines and Mining Development deputy minister Gift Chimanikire said besides the investors coming to revive the main mines. Other investors have expressed interest in reviving mines around Kamativi.
Chimanikire could, however, not give further details on the investors.
“The investors will revive tin and lithium production through the injection of R1 billion into Kamativi mines,” said Chimanikire.
“They have already given an update to ZMDC. I am supposed to meet the investors today.”
Kamativi mines were opened in 1936 in Matabeleland North Province, but were closed in 1994 due to viability problems after a slump in global tin prices.
In July last year, the government announced it had secured South African investors to invest in Kamativi mines, but NewsDay could not immediately ascertain if these were still the same investors the government was talking to now.
At the time the government said it had consulted at least 20 companies to engage into a joint venture with ZMDC on Kamativi mines.
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The mines have infrastructure, but what is now needed is the capital to start producing tin. Prices of tin reached the highest level of $26 790 per tonne last year before declining to the current levels of around $20 000 per tonne.
Tin is used to coat other materials to prevent them from corrosion and also for electro coating.
