Nigerian Billionaire, Benedict Peters, owner of Bravura Holdings limited is set to build a $1 billion platinum mine, in Zimbabwe, its country manager, Lionel Mhlanga, has said.
The 3,000 hectare (7,413-acre) concession where it plans to dig the mine is in Selous, 80 kilometers (50 miles) south of Zimbabwe’s capital, Harare and close to existing platinum mines.
“From where we are now, we will go to resource definition, after that we will go to resource modeling, after mine development and then mine construction. Those are all things that should happen in the next 18 months.”
Bravura is one of a number of unpopular companies that have secured platinum concessions, in Zimbabwe, as the government seeks to kick start its stagnant economy. Still, established platinum miners haven’t announced plans to expand their operations. While Zimbabwe has the world’s third-largest platinum group metal reserves, investors have been deterred by frequent changes to mining laws and currency policies.
In addition to Bravura, Russian and Cypriot companies have announced plans to invest in Zimbabwean platinum mines.
The billionaire is also the owner of Aiteo Eastern E&P Company Limited that manages integrated energy companies. The Company focuses on refining, supply, and marketing of petroleum products, exploration, production, bulk storage, as well as offers power generation and distribution services.
It also has little experience in mining.
Still, the group also intends to explore mining lithium, rare earth minerals and tin in Zimbabwe, Mhlanga said.
It’s also seeking to mine cobalt in the Democratic Republic of Congo, copper in Zambia, gold in Ghana and iron ore in Guinea, he said. Namibia and Botswana could also be options for the company, Mhlanga said.
