Bravura gets down to business
BRAVURA Holdings, an international mining company 70 kilometres south-west of Harare, says it will sink US$1 billion in their ambitious platinum project in the country, the Daily News report.
The mining venture, located in the Selous area on the Great Dyke in Mashonaland West, is one of the key projects earmarked to contribute to the country’s set target of a US$12 billion extractive industry by 2023.
Bravura Holdings was awarded the concession to mine platinum 15 months ago and sits approximately on 3 000 hectares.
Speaking during a tour yesterday to appraise the government, which was represented by Mines and Mining Development minister Winston Chitando and his deputy Polite Kambamura, country director Lionel Mhlanga said his group has approved US$1 billion for the development of the project.
“Where we are today is a culmination of an agreement that was signed between ourselves, the minister and our CEO Benedict Peters in June of 2019,” Mhlanga said
The ground-breaking ceremony was overseen by President Emmerson Mnangagwa and culminated in an exploration special grant being granted in July of last year.
“We immediately hit the ground running, barring delays that were inevitable due to the outbreak of the Covid-19 pandemic. However, we have managed to come to the ground and have since started work, we are doing exploration, and we are finding resources,” Mhlanga said.
“We are still to qualify the resources so that we can take this project to the next stage. Our group has availed US$1 billion from in-house sources for the development of this magnanimous project and we are very pleased that we are working here non-stop.
“That is the level of commitment we have. This is in line with the government’s 2023 vision to create a $12 billion dollar mining industry. We are very confident that we are going to contribute our fair bit to that vision.”
The mining consortium is aiming to become Zimbabwe’s fourth major platinum miner after Zimplats, Mimosa and Unki and preliminary indications have revealed three elements including gold grades of 3,3 grammes per tonne.
Chitando expressed confidence that Bravura would contribute to the government’s $US12 billion extractive industry by 2023.
“I’m extremely impressed with what we have seen and what we have heard. As was outlined by… Mhlanga, we signed an agreement with Bravura mid-last year and the progress which has taken place is really fantastic,” Chitando said.
“They have drilled close to 5 000m and they are targeting 15 000m as part of the first phase before proceeding to project implementation.
“What they are doing is resource confirmation to come up with the resource statement to enable the project to move to the next phase which is the mine modelling and firming up the road map for the implementation.
“I also like the way with which Bravura is taking the project seriously, they are drilling two by two of hour shifts 24 hours a day. It shows the seriousness in which they are taking this project and again they are very clear in terms of the timelines that they want to finish the first 15 000m by end of February and then move on to the next stage.”