Published: 06 April 2018

Global Platinum Resources and its Chinese partner, Wanbao Rexco, this week announced plans to revive operations at its 520 million ounces platinum reserves along the Great Dyke belt.

Parties to the $1,7 billion deal are pinning hope for revival of the project, that stalled for 14 years since the establishment of Global Platinum Resources (GPR) in 2004, to the visit by President Mnangagwa to China on a state visit.

The company believes President Mnangagwa's visit to China is expected to provide impetus for the firm to start exploiting the vast resources before year end.

The developments come barely a fortnight after Government penned a $4, 2 billion platinum deal in the Ngezi area with Cyprus based company, Karo Resources.

GPR technical manager Retired Brigadier General Livingstone Chineka, told Business Weekly that though the deal has stalled for years, President Mnangagwa's successful visit to China would be a game changer.
- Business Weekly

You might also want to read this

• Zimbabwe to unveil platinum policy
• Global platinum market headed for surplus
• $4.2bn platinum deal on schedule
• Govt steps up platinum value addition efforts
• Zimbabwe's $4,2bn game changer, 90 000 jobs
• Zimbabwe signs $4.2bn platinum deal
• $400m for Darwendale platinum project
• Great Dyke to build $400m processing plant in Zim
• Platinum output to remain stable
• Zim to introduce 15% penalty tax on platinum