EXPLORATION and feasibility studies are complete at the new platinum mine owned by Great Dyke Investments in Darwendale and production is due to start soon with.
It was reported on 16 September 2014 that Zimbabwe’s Pen East Investments had teamed up with Vi Holdings through its JSC Afromet subsidiary, to form Great Dyke Investments (GDI), which planned to develop a $3 billion platinum mining project in.
The Zimbabwe Independent
GOVERNMENTâs move to grant tax exemptions to the Russian-controlled platinum mining house, Great Dyke, was this week roundly condemned by experts who described it as âopaqueâ.
The broadsides followed Finance minister Mthuli Ncubeâs announcement last week that Great Dyke, which is developing a US$3 billion platinum mine in Darwendale would be the beneficiary of five-year tax exemptions, which could give it a huge windfall.
Great Dyke, one of the biggest such investments in the past decade, is being developed through a joint venture between the Russians and Landela Mining Venture, which is believed to be owned by controversial oil mogul Kuda Tagwirei.
How Zimbabwe’s cartels extract ‘rent’ from Zimbabwe’s poorest and make the elites richer
Source:
MAVERICK CITIZEN EXCLUSIVE, PART TWO
Illustrative image | Sources: Zimbabwean President Emmerson Mnangagwa. (Photos: Waldo Swiegers / Getty Images | Flickr / Elena Kis | EPA-EFE/AARON UFUMELI | Luke MacGregor/Bloomberg via Getty Images | Cynthia R Matonhodze/Bloomberg via Getty Images
The publication by Maverick Citizen of the Report on Cartel Power Dynamics in Zimbabwe has raised some important questions about the presence and impact of cartels in Zimbabwe in particular and Southern Africa in general.
The report finds that there is consensus across political parties, academics, and wider society that cartels “go against the public interest” and are characterised by collusion between the private sector and influential politicians to attain monopolistic positions, fix prices and stifle competition.