Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Development Of The Platinum Deposit In Zimbabwe
June 6, 2014 16:55


Vi Holding owned by Vitaliy Mashchitskiy, “Rostekh” and Vnesheconombank (VEB) created a consortium for development of the platinum deposit Darwendale in Zimbabwe, as “Kommersant” writes.

This deposit is the second largest in the world. The arranger of the project will be VEB which is commissioned to raise $ 3 billion; and the government of Zimbabwe, in its turn, promised to grant a “wide access” to its market to Russia. The transaction of buying 50% stake in the Zimbabwean Ruschrome Mining owning the license for its development was concluded in May 2013, and the creation of a consortium was executed on April 8, 2014.

The remaining 50% of shares are owned by a local company representing the interests of the state. The Consortium is planning to complete the survey on the main units and confirm the stocks by international standards by the end of this year. The first stage of construction of the mining and processing complex will begin in 2015 (investment amount is $ 500 million, it will take up to three years).

The total amount of investment in the project with a payback period of six years will be about $ 3 billion. Sergei Chemezov proposed to appoint VEB an arranger; the proposal was approved by Vladimir Putin who endorsed the letter with “approved” notice.  After that the project got off the ground, as the source of “Kommersant” in the government structure noted. The Deputy Prime Minister Arkadiy Dvorkovich commissioned the Head of Vnesheconombank Vladimir Dmitriev to “participate in the creation of a consortium as an arranger” on April 28.


Author: Anna Dorozhkina

Tags: Vnesheconombank Russia international Russian investments   

Next Previous

You might also find interesting:

Sergei Prokudin-Gorsky: Unbelievable Color Photos of Tsarist Russia Moody's Downgrades Russia to Junk, Outlook Negative St. Petersburg - Autism Friendly Russia's New Super Missile Unveiled Rouble Fall

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Transaero  Russian Rock  Russian people  Kolomna  Aircraft Designers  Gold Bee Design Biennale  speed limit  Video Exhibitions  Exhibitions in Moscow  Vladimir Monuments  the History Museum  Mountain Shoria  Russian medicine  Russian Cinema  education  Hoffmann  Russian business  Life Saving  Alisher Usmanov  Russian Nature  Skiing  Russian sports  travel to Russia  Russian Film Distribution  non-resource sector  Festivals in Saint Petersburg  Chechen republic  Archeological Finds  Blues  Irkutsk  Festivals in Moscow  Valery Maloletkov  Sakhalin Islands  Russian regions  Vologda Architecture  White Trail  St. Petersburg  Gligor Chemerski  Far East  Russian laws  Moscow Theatres  Mercedes-Benz Fashion Week Russia  Tyumen  Moscow  Russian science  Russian tourism  Sergei Paradschanow  Kolomenskoye  Rock Concerts  transport in Moscow 

Travel Blogs
Top Traveling Sites