Great Dyke

  • Business Briefs

    Russian-owned platinum venture sells shares to Tagwirei-linked firm

    GREAT Dyke Investments (GDI), a Russian-backed project planning to build Zimbabwe’s biggest platinum mine, has sold a 4.4% stake to Fossil Mines Ltd. as Covid-19 disrupted fundraising for the venture. Fossil, owned by Zimbabwe’s Obey Chimuka, will invest US$30 million in the Darwendale project, through a combination of cash and services, including for engineering, procurement and construction. Obey Chimuka, managing…

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  • Companies

    In-depth details of the Darwendale Platinum Project

    The Darwendale project, which lies 65 kilometers from the capital Harare, is central to the Zimbabwean government’s plans to revive its economy. The country has the world’s third-biggest platinum reserves after South Africa and Russia. The project cleared a significant hurdle last month when the African Export-Import Bank completed a due diligence study allowing it to proceed with a US$500…

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  • Business Briefs

    Zimbabwe’s largest platinum project to take off

    Russian-Zimbabwean platinum venture Great Dyke Investments (GDI) has cleared an important hurdle to develop what it would be the African nation’s largest mine of the precious metal. GDI, 50% owned by Russia’s Vi Holding and Zimbabwean investors, said the African Export-Import Bank had completed a due diligence study allowing it to proceed with a $500 million funding program for the Darwendale project’s…

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