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Russia, Zimbabwe inked license agreement on Darwendale platinum deposit

Furthermore, a MoU was signed between the African Export-Import Bank and the Russian-Zimbabwean Great Dyke Investments on provision of project financing by this bank of up to $192 mln

MOSCOW, January 15. /TASS/. Russia and Zimbabwe signed a range of agreements for implementation of a joint project on development of the Darwendale platinum group metals deposit. Documents were signed in presence of Russian President Vladimir Putin and President of Zimbabwe Emmerson Mnangagwa after their talks.

In particular, a license agreement on mineral resources mining on this field was signed. Furthermore, a memorandum of understanding was signed between the African Export-Import Bank and the Russian-Zimbabwean Great Dyke Investments on provision of project financing by this bank in the amount up to $192 mln.

Great Dyke Investments also signed a memorandum with the African Financial Corporation on shareholding participation in the Darwendale project in the amount up to $75 mln. Furthermore, a memorandum was signed to secure political risks of Russia’s VTB Group participation in the project.

The Darwendale deposit is the second largest in the world. It comprises reserves of platinum, palladium, rhodium, gold, nickel and copper.

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