Zim approves energy park that will fetch over US$13 billion annually

The government of Zimbabwe has approved the country’s first value addition and beneficiation park which on completion fetches an annual revenue of over US$13 billion for the country.

Rudairo Mapuranga

The proposed energy park by a group of Chinese investors, Eagle Canyon International Group Holding Limited and Pacific Goal Investment will process metals including graphite, nickel, chrome, lithium and platinum was given a go-ahead by the Minister of Mines and Mining Development Hon Winston Chitando at a ceremony held at State House which was overseen by the President Mnangagwa on Friday.

According to Eagle Canyon Director Lionel Mhlanga, the multi-billion dollar project will be a world-class project by 2025 and it will fetch the country over US$13 billion annually on completion.

“The park will be Zimbabwe’s centre of value addition and beneficiation of minerals. This multi-billion dollar project on completion will have an annual turnover exceeding over US$13 billion. Phase one of this project will see the construction of two, 300MW thermal power stations together with a nickel sulphate refinery, graphite refinery and a nickel-chrome alloy refinery plant, these plants are expected to be fully operationally by the year 2025,” Mhlanga said.

Mhlanga said, as the world is looking forward to a green future through the creation of clean energy, the Energy Park will help the country benefit from the green energy revolution.

“The World Bank has forecast a 500 per cent increase in demand for minerals and metals needed to deploy wind, solar or geothermal power by the year 2050,” said Mr Mhlanga.

Speaking at the event President Mnangagwa said he was delighted to facilitate and promote the establishment of the first Mines to Energy Park in Mapinga, Mashonaland West Province. He said the country was eager to implement clean energy projects.

“This agreement attests to my Government’s commitment to implement clean energy projects as critical enablers to leapfrog the modernisation and industrialization of Zimbabwe,” he said.

He said the Mines to Energy Park will augment the government’s vision to see the mining sector becoming a US$12 billion industry by 2023.

“The Park will augment my government’s thrust on value addition and beneficiation of minerals as well as bolster the crucial role that mineral value chains play in the national industrialisation agenda. The proposed Mines to Energy Park will mark the inception of the lithium-ion battery value chain in Zimbabwe. It is set to place Zimbabwe amongst the world producers of lithium-ion batteries while contributing to the growth of a resilient clean global energy economy.

The Minister of Mines Hon Winston Chitando said the Mines to Energy Park will be constructed immediately with Engineers already on the ground to kick start the implementation of the project.

“Construction is going to start immediately. Already, the investor has put some engineers which are ready to go on-site and make sure that the project is a reality.

“But more importantly, is the fact that economic development in any country does not happen by chance or by accident, there had to be a vision,” Chitando said.

Speaking to Mining Zimbabwe at the event, Zimbabwe Miners Federation (ZMF) President Ms Henrietta Rushwaya said the project is a game changer for the mining sector in general and the country at large as it will come with many positives for the growth and development of the economy.

“It is regarded as one of the biggest game gamers in Zimbabwe since the formation of the second Republic. Eagle Canyon has come up with a setup which will among other things process graphite, chromium and process various other minerals. The beneficiation of such minerals will go a long way in ensuring that our country gets benefits from the real value of minerals. Eagle Canyon will also generate a lot of electricity. It creates a lot of employment, the creation of employment by the company is indeed welcome by the Zimbabwean mining sector,” Rushwaya said.