China’s Shanxi Province to Invest US$20 Billion in Matabeleland North Mining
A high-level delegation from the Communist Party of China’s (CPC) Shanxi Province, led by Provincial Secretary Mr. Tang Dengjie, has committed to a substantial investment of up to US$20 billion in the Matabeleland North mining industry.
Rudairo Mapuranga
Speaking at an engagement meeting between Shanxi Province and Matabeleland North Province held at Golden Peacock Villa in Harare on Tuesday, Dengjie announced that Shanxi Province aims to attract investors willing to spend nearly 1 trillion Chinese Yuan (approximately 140 billion US Dollars) into Matabeleland North over the next two decades. Of this, close to 20 billion US Dollars will be directed towards the mining sector within the next five years.
“The CPC Shanxi Province is proud to announce that it will invest close to 1 trillion Yuan in Matabeleland North to boost the province’s economic activities,” Mr Tang Dengjie stated.
In addition to the long-term investment, the CPC Shanxi Province donated 1 million Chinese Yuan (approximately 140,000 US Dollars) to Matabeleland North as emergency relief.
Hon. Richard Moyo, Matabeleland North Minister of State for Provincial Affairs and Devolution, expressed his gratitude to the CPC Shanxi Province for their commitment.
Speaking to Mining Zimbabwe on the sidelines of the event, he emphasized the importance of Shanxi Province’s focus on exploration and the entire mining value chain in Matabeleland North. The province, rich in over 40 commercially viable minerals, currently sees active extraction of coal, lithium, copper, methane gas, gold, and chrome.
“We want to thank His Excellency, President Emmerson Dambudzo Mnangagwa, for fostering this relationship with the President of the People’s Republic of China. These benefits result from the collaboration between the two presidents. In Matabeleland North, the Chinese are mining coal, gold, and other minerals. With the new partnership between Matabeleland North and Shanxi Province, they promise to bring more investors to explore our abundant resources, including methane gas, coal, lithium, and other minerals. They are committed to investing 10 to 20 billion US dollars in the mining sector. As a province, we are extremely happy and grateful for His Excellency’s efforts,” said Hon. Richard Moyo.