The Ministry of Mines and Mining Development and the country’s largest platinum miner, Zimbabwe Platinum Holdings (Zimplats), have signed a memorandum of understanding that will see the mining giant invest US$1,8 billion to bolster its operations, including the setting up of a 110 megawatt (MW) solar plant.
Presiding over the signing ceremony at State House on Thursday, President Mnangagwa commended the platinum producer for the adoption of sustainable energy sources.
“The adoption and use of smart energy resources by Zimplats through integrating the development of 110MW solar power is also commendable.
“This will not only bolster our thrust of becoming energy self-sufficient, but help us have a diverse energy mix.”
He said investors were showing increasing confidence in the local economy.
“The signing of a US$1,8 billion agreement attests to the growing confidence of global capital in our economy and the policies of the Second Republic,” said President Mnangagwa. Bulawayo24