22 January 2018
   
Winky D gives voter registration oomph
Cholera: Zim on high alert as 4 killed
ANC confirms Zuma exit discussion
Government orders blood price reduction
- One day’s supply left of key blood group
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
MORE NEWS
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
MORE BUSINESS
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
MORE SHOWBIZ
Billiat might still leave: Sundowns coach
Anger as Dembare approach City player
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Government takes cash hunt to Russia
28/07/2014 00:00:00
by Business Reporter
 
Moscow trip to look for investment ... Walter Chidhakwa
 
RELATED STORIES
Help Zim or expect more refugees, SA told
Foreign investment slumps 59 percent
Minister laments tough investment laws
Indigenisation discord puts investors off
Investment: Beer, Econet only attractions
Govt targets US$2 billion annual FDI
Government to amend investment laws

THE government has widened its hunt for a financial package to help stem the country’s economic slide with two Cabinet ministers travelling to Russia this week.

According to state media, finance minister Patrick Chinamasa and mining counterpart Walter Chidhakwa left for Moscow on Sunday.

Russian companies are already involved in Zimbabwe’s resources sector with a consortium involving the state defence conglomerate Rostec and a company called Vneseconombank (VEB) confirming in June plans to set up a $3 billion platinum mine in Darwendale.

With production expected to reach 600,000 ounces of platinum annually, the mine whose construction is due to begin in Jun, will become the country’s largest platinum producer.

Chinamasa was quoted as saying they explore joint venture opportunities in mineral exploration with Russian investors.

The treasury chief recently returned from Beijing negotiations continue over a possible US$10 billion rescue package with the Chinese government.

President Robert Mugabe is expected to travel to China in September where a deal may be clinched.

But Chinamasa trip to Russia suggests the government may be widening its options after Harare expressed reservations over demands by China to use future mineral revenues as collateral for the loan.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker