Zimbabwe shortlisted four bids to revive the Kamativi tin operation that closed in 1994, the Mines Ministry said.
The bidders included companies based in China and South Africa that will partner with state-owned Zimbabwe Mining Development Corporation to reopen Kamativi in the western Matabeleland North province, Francis Gudyanga, the secretary for mines, said Friday in an interview.
“The thing about Kamativi it is not just about tin but there are also several other minerals,” Gudyanga said in Victoria Falls.
“It’s very promising.” It will cost $60 million or less to restart production, he said.
Zimbabwe’s plan to revive output comes even as the metal that used for soldering electronics plunged 18% on the London Metal Exchange this year amid rising supply from Myanmar and China. – Bloomberg