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Situation in Zimbabwe unlikely to affect development of Darwendale platinum deposit

Press service of the Russian Ministry of Industry and Trade said earlier that Russia is committed to all existing agreements with Zimbabwe

MOSCOW, November 17. /TASS/. The military's takeover in Zimbabwe did not affect implementation of the project to develop the Darwendale platinum metal deposit by the Russian-Zimbabwean joint venture, an official representative of Vi Holding, which participates in the project on the Russian side, told TASS.

"Vi Holding group, as agreed with the Zimbabwean partner, continues the phased implementation of planned activities for the project," the representative’s representative said.

Press service of the Russian Ministry of Industry and Trade said earlier that Russia is committed to all existing agreements with Zimbabwe, including those reached under concrete joint projects.

"In practical work with our Zimbabwean partners, including under concrete joint projects, we are guided by the existing agreements committed to paper in corresponding intergovernmental documents and guaranteed by them. We hope the current level of bilateral cooperation and the potential for its further development will guarantee an unconditional basis for further development of sustainable trade-and-economic, industrial and investment ties between Russia and Zimbabwe," the ministry’s spokesman said when asked about possible impacts of the current political situation in Zimbabwe on economic cooperation between the two countries.

On Wednesday, Zimbabwe’s top brass put in custody President Robert Mugabe and his family and Finance Minister Ignatius Chombo, blocked the roads leading to the buildings of the government, parliament and courts in Harare and seized the studios of the state television and radio broadcasting corporation. Military officials said that it was not a military coup by all means and their actions were aimed against "criminals" in the president’s entourage.

A key area of cooperation between Russia and Zimbabwe is production of precious metals and diamonds. Great Dyke Investmenets (Pvt) Ltd, a joint venture developing the Darwendale platinum department, is the largest project with Russia’s participation in Zimbabwe. Once commissioned, the deposit might be ranked among the world’s top five in terms of platinum group metals output.

In January 2016, a subsidiary of Russia’s biggest truck manufacturer Kamaz signed a contract with Zimbabwe’s ministry of tourism for 568 vehicles and spare parts for them.

According to Russia’s ministry of economic development, a number of Russian companies have demonstrated interest to cooperation with Zimbabwe. They included Tractor Plants Concern, United Engine Corporation, Shvabe Co., Russian Electronics, United Tool Corporation, Kalashnikov Concern, Technopromexport, National Immunobiological Company, Stroytransgaz, Power Machines, and others.