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Construction of the box cut at the GDI site at Darwendale, July 2020. The box cut is the first step in excavation, providing a portal into the underground mine HARARE (Bloomberg) –A mining company majority owned by the Zimbabwe government and whose profits will partly be used to compensate former white commercial farmers for land confiscated two decades ago intends to raise $1 billion for acquisitions and capital expenditure. Kuvimba Mining House Ltd., in which the government holds a 65% stake, will invest a “significant amount” of the cash raised on the Darwendale platinum project, which belongs to its Great Dyke Investments unit, according to Chief Operating Officer David Brown. About $100 million will be set aside for acquisitions and capital expenditure over the next 12 months, he said in emailed responses to questions.

Mashonaland eastGreat dykeZimbabwe generalEmmerson mnangagwaMthuli ncubeDavid brownKudakwashe tagwireiMetallon gold zimbabwe ltdKuvimba mining house ltdMining house ltdGreat dyke investmentsChief operating officer davidMnangagwa adviserCompany buys biggest zimbabwe nickelFinance minister mthuli ncubePresident emmerson mnangagwa