Government is on the overdrive to attract investment to stimulate desperately needed socio- economic development. Since Zimbabwe is endowed with huge mineral wealth, mining is the heart beat of the “Zimbabwe is open for business” mantra.
By nature, mining is a capital-intensive business. Attracting investments, therefore, is critical to turn mineral wealth into modern schools, hospitals, roads and water infrastructure. Care must be taken, however, to choose investors that do not swindle citizens of their right to get a fair share of benefit from mining.
So far, there has been strong public disquiet on mining mega deals that are being sealed by government. Since the contracts are not publicly available, citizens’ radar cannot detect how the mega deals are primed to dig Zimbabweans out of poverty.
Government’s move to select Anjin Investment (Chinese) and Alrosa (Russian) as the two foreign companies that will explore, and mine diamonds escalates cynicism on mining mega deals. Anjin Investments is not a new investor. Has government “learnt nothing and forgotten nothing” from fresh saga on “missing $15 billion” from Marange…