HARARE-- The Zimbabwe Mining Development Company (ZMDC) says it is on the hunt for investors to partner it in four multi-million dollar projects to mine gold, coal-bed methane, graphite as well as emerald, tantalite and lithium.
The company owns massive resources which have not been fully exploited because of its limited investment resources while some of its subsidiaries have in the past struggled over governance issues.
For the coal-bed methane project, the ZMDC is targeting a joint venture. The firm has two coal-bed methane special grants covering a combined 630,000 hectares in northwestern Zimbabwe.
Regional reconnaissance geological work was done over the area, the company said Thursday. ZMDC would like to engage reputable companies to partner it in exploration, development, mining, processing and beneficiation ofcoalbed methane in one or both of these special grants.
The ZMDC said it was also searching for partners for two gold mining projects -- Jena Mines, measuring 3.974 hectares in Silobela in Midlands Province and Elvington Gold Mine, a 473-ha site near Chegutu in Mashonaland West Province. Both mines are under-capitalized.
The third project entails exploration, development, mining, processing and beneficiation of emerald, lithium and tantalite. ZMDC owns Sandawana Mine, which has a lease which, apart from the three mentioned minerals, also covers gold, iron ore, silver, niobium, lithium, chrome, tin and slate.
The last project is ZMDC's lynx graphite mine, and will specifically entail exploration, development, mining, processing and beneficiation of graphite from lynx. The mine, which is on a 570-ha site near Karoi in
Mashonaland West province, is currently under care and maintenance.
Geological reports, feasibility reports and business plans are available, the ZMDC said. The deadline for submission of expressions of interest for all the projects has been set for Feb 15, 2018.
Source: NAM NEWS NETWORK