Zida launches online platform… works on linking mining claim holders to potential investors
ZIMBABWE Investment and Development Agency (Zida) has launched an online platform that seeks to link mining claim holders and potential local and foreign investors to establish possible partnerships that could narrow funding gaps.
Mining is a strategically important sector to the Zimbabwean economy, accounting for over three quarters of export receipts and 16 percent of gross domestic product.
However, limited capital for long term capital projects particularly for artisanal minerals remain a significant stumbling block to initiatives aimed at sustainably growing the sector.
Zimbabwe’s mining sector generated more than US$5 billion in 2021, keeping the country on course towards achieving its target of a US$12 billion mining economy by 2023.
To narrow funding gaps in the sector, Zida has availed a mining claims matchmaking platform that allows investors to connect with holders of mining claims in Zimbabwe and express their interest in connecting and investing in them.
Zida said the mining claims matchmaking platform is a valuable resource for mining claim holders who are looking for assistance in developing and or expanding their claim operations.
The platform provides a convenient way to connect with potential investors with claim holders.
Added to that, mining claim holders are expected to have increased access to potential investors from all over the world, profiles the mining claims making them more attractive to investors and provides a transparent and secure way for claim holders to connect with potential investors.
“This is a platform developed to connect mining claim holders with local and international investors. The platform allows claim holders to register their claims, and specify the type of assistance they are seeking.
“This could be in the form of technical assistance, tributary partnership, joint venture partnership, debt funding, or a buyer for the mining claim,” information gleaned from Zida’s official website pertaining mining claim holders show.
It adds that Zida will then market the claims registered on the platform to potential investors. “The platform is open to all mining claim holders in Zimbabwe, regardless of whether they are individuals, companies, or syndicates.”
On the part of investors, Zida says to access the platform, investors are required to register and submit relevant information, such as contact details, investment objectives, and the type of mining claim they are interested in.
“Investors are also required to pay a registration fee to access the information on the matchmaking platform,” it said.
According to Zida, once an investor’s registration has been approved, they will be able to view registered mining claims and express their interest on the platform.
The investor will then be given further details to be able to contact and negotiate with the identified and selected claim/s holders on a one on one basis – subject to claim availability.
Artisanal and small-scale miners contribute over half the gold sold to Fidelity Printers, with over 23,3 tonnes of the 35 tonnes delivered last year.
This year, the Government is targeting production of over 50 tonnes to be delivered as a result of the support for artisanal and small-scale miners and the expansion of mines by the major mining houses.
Government recently launched a US$10 million gold fund targeting small-scale and artisanal miners, with half going towards loans and the other half to funding more processing and buying centres.
The revolving loan facility will be broken into two, with US$5 million set aside for the establishment of the artisanal gold and small-scale miners fund, while the remainder will be for the gold service centres recovery facility.
The US$10 million was drawn from the US$956 million Special Drawing Rights received by the country from the IMF as part of the US$650 billion disbursed by the global financial institution to assist member States recover from the effects of Covid-19.
Zida offers incentives to investors and undertakes all that makes Zimbabwe a safe investment destination.
It co-ordinates investment projects by taking advantage of existing national synergies. The agency provides a one-stop shop investment centre that facilitates, licences and operationalise investments.
The establishment of Zida is one of the success stories of the New Dispensation’s economic reforms aimed at rejuvenating the productive sector and creating more jobs.
The grand plan is to realise an upper middle-income economy by 2030.-chronicle
