Zimbabwe and Russia Agree to Develop Platinum Mine

Zimbabwe and Russia on Tuesday signed a $3-billion deal to develop a platinum mine in Darwendale, targeting production of 250 000 oz/y within three years, a presentation by the Zimbabwean ministry of mines showed.

The presentation said the mine would have peak production of 800 000 oz/y, which should help Zimbabwe produce one-million ounces a year in five years’ time.

President Robert Mugabe and Russian Foreign Minister Sergey Lavrov oversaw the signing of the agreement in Darwendale, 70 km west of Harare.

via Mining Weekly

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza