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A Chinese mining company has invested $10 million on a milling plant that will assist small-scale miners in Bindura and its environs process their gold.
The company, Timsite Enterprises currently employs 145 people with more expected to b e employed once the milling plant is completed.
“We have confidence in the mining sector in Zimbabwe that is why we have made this investment. This is our way of contributing to the economic development of this country and we expect to make more investment in the sector,” said Mr Ray Cheng, Timsite Enterprises director.
Mr Cheng said apart from providing milling services, the company also provides transport and mining equipment to small-scale miners.
“We have decided to assist small-scale miners because we believe they play a critical role in the mining sector although they do not have adequate machinery to carry out their activities,” Mr Cheng said.
The company is also constructing accommodation for its staff as part of the investment.
Mr Leonard Chiteka who is also a director in the company welcomed the investment by the Chinese saying it will assist local miners in a big way.
“Most small scale miners have no access to equipment and mills to process their gold so the investment that has been brought by our Chinese counterparts will go a long way in improving productivity and ensure that small-scale miners play their part in improving gold production in the area,” Mr Chiteka said.
Since Government adopted the Look East policy at the turn of the millennium following the imposition of illegal sanctions on Zimbabwe by Western investors, a number of Chinese businesses have invested in the country especially mining.
During his State visit to China in August, President Mugabe signed a number of deals that will see more investments.
Online Reporter