Junior Chamber Attracts Investors
Investment promotion and protection company Taplane Business Solutions Centre is looking to partner with the Junior Chamber of Mines of Zimbabwe (JCMZ) to support small to medium miners in professionalizing their operations to world-class standards and securing funding, Mining Zimbabwe reports.
By Rudairo Mapuranga
Speaking to Mining Zimbabwe, Taplane CEO Alain Diffo said his company has identified significant challenges related to the capitalization of most mines due to difficulties in finding the right partners.
He stated that Taplane is bringing the right investment partners and is looking to JCMZ to organize small to medium-scale mines to elevate them into large-scale operations.
“We are very interested in mining, which is why we are here at the Junior Chamber of Mines. There are significant challenges related to the capitalization of most mines, and we often struggle to find the right partners in countries that can demonstrate their resources backed by financial arrangements. We have access to those arrangements and are looking to the Junior Chamber of Mines to organize small to medium-sized mines, as we aim to elevate them to large-scale operations,” he said.
He added that miners intending to partner with Taplane should have business plans outlining the growth ambitions of their mines.
“For instance, if we find individuals in need of capital, we would require a business plan that outlines the mine’s lifespan. Based on that information, we can pursue foreign direct investment. We hope that Zimbabwe will embrace the opportunities with Taplane Business Centre, as we have established strong relationships with various international organizations that are often hesitant to invest in countries like Zimbabwe due to uncertainty. Our task now is to create a platform that brings Zimbabwean businesses together, showcasing their capacities and selecting a few that can receive sponsorship,” he said.
The government, through its “open for business” mantra, has been encouraging international investors to invest in the country’s mining sector as part of its efforts to contribute significantly to achieving an upper-middle-income economy by 2030.
Zimbabwe’s mining sector has witnessed a surge in investment over the past three years, with several companies investing heavily in exploration, expansion, and plant construction.
A survey by the Chamber of Mines of Zimbabwe (CoMZ), based on insights from mining executives, showed that substantial investments have been made in lithium, gold, Platinum Group Metals (PGMs), and ferrochrome companies.
The mining sector is a major contributor to the economy, accounting for 13 per cent of the gross domestic product and employing over 50,000 people. The sector also generates more than 70 per cent of the country’s exports.