Regional News

Hwange wins back DRC coal market

HWANGE WINS BACK DRC COAL MARKET
Harare March, 13 2012 (New Ziana) -Hwange Colliery Company Limited (HCCL) on Tuesday said its market in the Democratic Republic of Congo(DRC) which was under threat from Chinese mining companies is now safe following negations with the Congolese government.
The Chinese wanted to control coal imports into the vast Central African country.
Hwange Colliery is exporting over 62 000 tonnes of coal every month into the region including DRC, Botswana, Malawi, Tanzania and Zambia.
Managing director Fred Moyo said the company had successfully engaged the DRC government over the issue.
“DRC companies were preferring coke from China ahead of our product. We have engaged the government with the assistance of their ambassador to Zimbabwe to regain our share in that market,” he said.
“Our DRC market is now safe and secure and we hope to be major suppliers of coal in that country.”
Apart from regional markets HCCL has also secured export market to India where it expects to ship between 50 000 and 60 000 tonnes of the commodity per month.
There is a shortfall of 50 million tonnes of coal in the Asian market which HCCL wants to fully exploit.
Hwange Colliery, which is sitting on two billion tonnes reserves of coal, recently secured a US$20 million loan facility from the Development Bank of South Africa (DBSA).
The colliery company requires about US$90 million for new machinery for both underground and open cast operations.
In 2010 the company produced 2, 4 million tonnes of coal up from 1, 6 million in 2009.
New Ziana

Zim third most sought after investment destination in Africa

ZIM THIRD MOST SOUGHT AFTER INVESTMENT DESTINATION IN AFRICA
Harare March 7, 2012 (New Ziana) -Zimbabwe has been ranked the third most favored investment market on the continent over the next three years behind Nigeria and Kenya.
According to results of the Institutional Investor Intentions survey to 2016 which an Abu Dhabi investment company the Economic Intelligence Unit conducted recently, Zimbabwe garnered 35 percent while second placed Kenya had 48 percent and Nigeria had 51 percent.
The survey was aimed at establishing the African country that offered the best prospects overall for investment returns over the next three years.
“Investors are naming highly diverse countries as offering the best prospects for investment returns in the coming three years,” the report said.
“In terms of popularity with investors, Nigeria and Kenya top the list, followed by Zimbabwe and Egypt.”
Commenting on the development Economic Planning and Investment Promotion permanent secretary Dr Desire Sibanda said the prevailing stable macro-economic environment would attract more investors.
Sibanda said the mining and agricultural sectors would draw the largest chunk of investors.
He added that investors would continue to come to Zimbabwe despite negative publicity about the indigenization drive which the country was pursuing.
“It is a good thing that we are doing well the international community cannot afford to forget about Zimbabwe because we are a force to reckon with,” he said.
Zimbabwe is slowly emerging from a decade long economic meltdown induced by sanctions that some Western countries imposed as reprisal for implementing agrarian reforms.
The sanctions saw a reduction in Foreign Direct Investment (FDI) resulting in reduced industrial capacity and near collapse of almost all sectors of the economy.
This prompted government to introduce a look East policy which is beginning to bear fruits as evidenced by the huge investments that Asian conglomerates are making in the country.
New Ziana

Zim to send investment team to SAi

ZIM TO SEND INVESTMENT TEAM TO SA
Harare February 20, 2012(New Ziana) - Zimbabwe will next month send a delegation to South Africa to meet with investors and scout for new lines of credit, an official said on Monday.
South Africa is one of Zimbabwe’s biggest trading partners accounting for at least 56 percent of imports into the country.
Economic Planning and Investment Promotion permanent secretary Dr Desire Sibanda said it was imperative for Zimbabwe to tap FDI from within Africa since Europe and America were facing a serious debt crisis.
“It is against this background that the Ministry of Economic Planning plans to hold a multi-stakeholder road show or investment conference in Johannesburg, the hub of Gauteng province,” he said.
“The Gauteng road show will focus on mining, agriculture, tourism energy, ICT and the manufacturing sector among others.”
Dr Sibanda said the road show was reciprocal to the one that South African businessmen conducted in 2010.
He said the sojourn would also serve to strengthen the strong bilateral ties that exist between the two Southern African nations.
“This will also aid companies in accessing opportunities for listings and capital raising in one of Africa’s largest markets.
“It will also expose Zimbabwean companies to leading companies interested in partnering on key investment projects in the Zimbabwean economy,” he said.
The road show would take place on March 1 and 2 and Economic Planning Minister Tapiwa Mashakada will lead the delegation that will include the Confederation of Zimbabwe Industries (CZI) and the Zimbabwe Investment Authority (ZIA) among others.
Line Ministries in the economic cluster will also take part in the road show.
New Ziana

Zim small scale miners to get equipment from SA

SMALL SCALE MINERS TO GET EQUIPMENT FROM SA
Harare Janaury21, 2012(New Ziana)-The Zimbabwe Miners Federation (ZMF) has entered into an agreement with a South African gold buyer for the provision of mining equipment and financial support to boost, an official said Saturday.
Under the arrangement, ZMF will sell its gold to the South African company, which would in turn provide machinery to the miners to ramp up production.
Gold production by small-scale miners surged to 489, 5 kg in December 2011 compared to 348, 5 the previous month.
ZMF president Trynos Nkomo said selling gold to South Africa meant high returns for the miners.
“It is a win-win situation where we get machinery and capital while the South African firm gets gold. Our members will get good prices and this will go a long way in boosting local production since mining is capital intensive.
“We are just activating a deal that existed before. The initial contract expired three years ago when the country went through a bad patch,” he said.
Nkomo said the South African firm was a reputable gold refiner in that country and in India.
“The firm has also agreed to advance machinery on credit to the federation,” he said.
Nkomo however would not be drawn to disclose the name of the South African company and the nitty gritty of the deal.
He said the federation would continue to sell some gold to Fidelity Printers and Refineries.
In the initial stage, Nkomo said ZMF would export 40 kilograms of gold to the company although the quantity could increase.
“By year end we hope to export more than a tone of gold,” he said.
“The country only has two sets of miners, that is small and large miners but the deal will see the birth of middle or medium miners, which is the missing link today.”
New Ziana

CIMAS to cover students in SA

CIMAS TO COVER STUDENTS ABROAD
Harare January 18, 2012 (New Ziana) -Cimas Medical Aid Society (CIMAS) has partnered with Momentum Health of South Africa to offer health cover to Zimbabwean students studying in that country, an official said on Wednesday.
The South African market makes it difficult for foreign medical aid providers to cover students at institutions of higher learning in that country.
CIMAS head of public relations Lindiwe Mhunduru told New Ziana that parents with children studying in South Africa had been requesting Cimas to provide them with medical cover.
“This has not been possible because the South African universities are refusing to register students with cover from non-South African medical aid providers,” she said.
Mhunduru said the arrangement with Momentum Health would enable students to have their healthcare cover processed from Zimbabwe.
Mhunduru said Cimas was also offering Global Travel Cover (GTC) that benefits people travelling out of the country for holiday or business.
“GTC covers the whole world but tariffs are divided into the rest of the world.
“It covers only for unforeseen emergencies and does not cover pre-existing conditions,” she said.
Cimas is among the leading medical aid societies in Zimbabwe and has close to 60 years experience in providing innovative and efficient medical cover for over 400 000 Zimbabweans at home and abroad.
It was the first medical aid society to introduce an optional benefit that enabled its members to access full Anti- Retroviral treatment.
New Ziana

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