Russian Investors Have Quit Zimbabwe Platinum Project

Workers survey the Portal One area of the Great Dyke Investments Ltd. Darwendale platinum mine project, near Harare, Zimbabwe, on Wednesday, Sept. 16, 2020. The so-called Darwendale project, which lies 65 kilometers (40 miles) from the capital Harare, is central to the Zimbabwean government’s plans to revive its stagnant economy. , Bloomberg

Felix Njini, Bloomberg News

Jun 6, 2022

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(Bloomberg) -- Russia’s Vi Holding has quit its involvement in Zimbabwe’s Great Dyke Investments platinum company.

The Russian company has ceded its 50% stake in the company to Zimbabwe’s Kuvimba Mining House Ltd., according to an email from Great Dyke, which didn’t give a reason for the change in shareholding. Igor Higer, who had served as Great Dyke chairman and is a represenative of Vi, said his company has exited the arrangement.

Great Dyke owns the Darwendale platinum deposit and has said it planned to build a $3 billion mine to extract the metal.

 

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