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Zim looks to negotiate at Arab-African mining conference

The herald

Enacy Mapakame
Mining stakeholders will meet in London in June for the third Arab-African Mining Conference Exhibition, in which Zimbabwe hopes to make major deals for the mining sector.

The conference, which will be held June 25-26 at the Queen Elizabeth II Conference Center, will provide a unique platform in London for Arab and African countries to market mining projects to a high-level audience of mining companies and institutional investors.

This will be a frank platform for government officials, mining companies and potential investors from around the world to discuss opportunities as well as policy issues with the ultimate goal of attracting investment in the mining industry.

Co-organizers of the conference, the Financial Markets Indaba (IMF) indicated that Zimbabwe would be on the agenda as one of the main countries in southern Africa making presentations on mineral wealth in southern Africa on important commodities like platinum, gold, diamond and metal batteries. .

"By giving presentations behind closed doors, customers can get firsthand information about what foreign investors are looking for in Zimbabwe's investment space. Investors are pre-selected and pre-qualified for their active interest in Zimbabwe.

"The opportunity to present an investment case to a group of capable and potential investors with the benefit of feedback is invaluable. The opportunity to have an exhibit booth, give presentations and demonstrate thought leadership increases the time of contact with potential partners and investors, "said IMF business development executive Patrick Muzondo.

He added that Zimbabwe, with its geological setting, has the potential to host numerous styles of mineral deposits in some of the world's least explored plots.

As co-organizers of the conference, the IMF will be facilitating a special session on Zimbabwe, which will feature senior government officials and executives from the mining company.

The session will address Government policy, monetary policy, investment and policy environment in Zimbabwe, new mining developments in the country and why Zimbabwe is the most promising destination for mining and business investment in Africa.

Mining is one of the main economic drivers for Zimbabwe and should boost the economy going forward.

The global think tank, Fitch Solutions, has designed Zimbabwe to become a mining giant in Southern Africa, based on its vast mineral deposits and large investments that favor the growth of the sector.

Zimbabwe has vast mineral deposits ranging from gold, platinum, diamonds, nickel and chrome. The country is home to the world's second largest known platinum deposits after South Africa, while its gold reserves are among the largest in Africa.

Diamond reserves are estimated to be the second largest after Russia.

"Zimbabwe is emerging as an important mining center in Southern Africa as foreign investment drives growth in the production of minerals and metals," Fitch said in its recent country publication – Zimbabwe Country Risk Q1 2019.

"In terms of global platinum production, Zimbabwe is challenging the world's largest platinum producers, Russia and South Africa, while gold production is also expected to increase in the medium term," Fitch Solutions said.

The government is also working to improve the business environment to attract foreign direct investment in all sectors, with several reforms being undertaken.

The government has already amended the indigenization laws, which will allow foreign investors to obtain full ownership in all sectors except for platinum and diamond, where the government will hold 51% of the shares.

Zimbabwe's participation in the Arab African Mining Conference is expected to be the starting point for increasing the country's appetite for investments in the mining sector by global players.

The annual conference is the only event held in Europe that allows participants

hears new mining projects firsthand and connects directly with government decision makers.

Among other issues to be presented at the conference are new opportunities for Arab and African governments, including new exploration opportunities, licensing rounds, and the production of mine investments.

Understanding the geological potential of neglected mining countries, including the West African Sahel countries, the Horn of Africa and the Nubian Shield of Arabia, as well as Sub-Saharan Africa, will also be discussed.

The IMF is an investment platform that connects capital providers, allocators and operators with a view to promoting investment agreements and activities in Zimbabwe and Africa.

"The platform gathers in keen panel discussions, presentations and conversations in the three most important cities for the capital markets of Zimbabwe: Harare, Johannesburg and London," Muzondo said.

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