HARARE, Sept 16 (AFP) : Russia's trade minister on Monday said his country is set to sign a major joint platinum mining deal with Zimbabwe as the two nations kicked off bilateral talks.
"The priority project for us is the Darwendale platinum project," Denis Manturov, Russia's industry and trade minister said in Zimbabwe's capital Harare.
The agreement is expected to be signed during a visit by Russian Foreign Minister Sergei Lavrov, who was expected to arrive in Harare on Tuesday.
Details of the platinum deal were not disclosed Monday, but in July, the Kommersant newspaper reported that Russia's Vi Holding, state technology group Rostec and investment bank Vnesheconombank had formed a consortium to jointly develop the Darwendale platinum field in Zimbabwe.
With proven reserves of 19 tonnes of platinum and 755 tonnes of platinum group metals, the fields in Zimbabwe's north are among some of the largest in the world.
The mine will reportedly have a capacity to produce up to 600,000 ounces of platinum a year, making it the largest in the country.
Zimbabwe is the third producer of platinum after South Africa and Russia, but has the second-largest known reserves after South Africa.
Manturov said Russia is keen to invest in several other sectors in Zimbabwe including agriculture, energy, infrastructure development, tourism, and health.
Russia to seal platinum deal with Zimbabwe
FE Team | Published: September 17, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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