Published: 10 June 2013

The Zimbabwe Mining Development Corporation (ZMDC) says it is in talks with several foreign investors to partner the newly set up Mining Promotions Corporation (MPC) in the exploration of the country's mineral wealth.

According to MPC parent company, ZMDC, there is growing interest by international investors who are eager to partner with the entity in the exploration of minerals through the availing of equity and the exchange of expertise.

ZMDC General Manager, Jerry Ndlovu confirmed the increased investors' interests in the project, adding that they are in talks with an established Chinese exploration firm which is eager to partner the mining promotion parastatal.

He said: "Many investors are approaching us on this project and there is excitement from international investors. We are ready for them as we seek to boost the equity and to tap into their vast experience."

Economic analysts believe that given the mining industry's positive momentum and increased contribution to the gross domestic product, there is need for significant investment in mining exploration.

They say despite having vast mineral deposits, the country has remained under-explored.

It is hoped the newly formed MPC will ensure an increased exploration and development of an inventory of bankable projects that can be marketed to potential local and international investors. 
- zbc

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