The agreement on the operation of the mine within the framework of the joint Russian-Zimbabwean project Great Dyke Investment was reached back in 2014, but the plan did not come to fruition then, explained Polite Kambamura, a spokesman for the mining ministry of the African country.
“Two weeks ago, we finally agreed on the terms of the contract and the Russians are ready to immediately start implementing it,” the functionary said.
Kambamura refused to disclose the ownership structure of the project, noting only that the cost of the mine together with the associated infrastructure is at least 4 billion US dollars.
Egypt-based Afreximbank will finance the construction of the mine. According to sources from The Herald, the lending institution is ready to invest about 2 billion US dollars in the project. The money will go to finance the construction of the mine itself and the accompanying metallurgical plant.
