The petroleum industry dominant player and ally to President Emmerson Mnangagwa, Kudakwashe Tagwirei has become a new joint venture partner with Afromet JSC in the Darwendale platinum mine project.
Afromet JSC is a Russian Investment which has been in charge of the Darwendale platinum mine project since 2013.
In a statement released by the company incharge, Great Dyke Investments (GDI) stated that Landela and Afromet JSC have equal stakes in the project.
“The 2019 year is marked for the project and GDI by the arrival of a new strong Zimbabwean shareholder, Landela Mining Venture which is part of the bigger experienced multinational commodity trading group Sotic International Ltd with business interests in minerals and oil trade in the SADC region,” said GDI.
The project is expected to be implemented in three phases with the first phase expected to cost US$500 million whilst 860, 000 ounces of PGM and gold are expected on a yearly basis.
Tagwirei is also a shareholder in the African Chrome Fields and Fossil Contracting in which the Managing Director Obey Chimuka now sits on the GDI board.