GDI, Afreximbank project financing agreement at advanced stage

By ZBC Reporter
THE Great Dyke Investments platinum mine is on the verge of finalising an agreement with Afreximbank for financing the project at a total cost of 500 million United States dollars.
Speaking to ZBC News this Monday, Great Dyke Investment chief executive officer, Mr Alex Ivanov confirmed that, while talks on the deal are in progress, construction work is already underway at the site.
“The project is on course and it is however subject to current talks with the bankers. If all goes well nothing will stop us from forging ahead with the entire project by January 2021,” he said.
The project is a joint venture between two private firms Landela of Zimbabwe and Afromat from the Russian Federation.
The Great Dyke Platinum project feeds into the country’s envisaged target of achieving a 12-billion-dollar mining industry by 2023.
Great Dyke Investments started cutting the box cut in January this year which served as the opening of most new mines. The box cut provides a secure and safe entrance to an underground mine.
Platinum is expected to contribute US$3 billion to the export target with the coming on board of Great Dyke Investments and Karo Resources, which will augment production from Zimplats and Mimosa mines that are already operational.

The post GDI, Afreximbank project financing agreement at advanced stage appeared first on ZBC NEWS.

Leave a Reply

%d bloggers like this: