Govt in bid to revive asbestos mines

of the handover process, as it has emerged that most of the equipment is dysfunctional.
The mines, under the administration of Mr Afaras Gwaradzimba since 2004, were recently handed over to the Government, with the Zimbabwe Mining Development Corporation spearheading the revival of the only asbestos mines in the country.
Mines and Mining Development Deputy Minister Gift Chimanikire said in an interview yesterday that the Government would put in place the revival plan to ensure the mines resumed operations.
Before their closure, the mines employed more than 4 000. “Indications are that most of the equipment is no longer working and needs replacement,” he said.
“We have tasked the ZMDC to come up with a plan once the handover process is done.”
Estimates suggest that about US$200 million will be needed to reopen the mines. Shabanie and Mashava used to produce about 180 000 tonnes a year of fibre for asbestos.
The mines stopped operations a year ago due to flooding resulting from a power disconnection. The floods submerged equipment, including transformers, conveyor belts, pumps, load-hauling machines, crushers and rock breakers.
Mr Chimanikire said new investors were needed to inject fresh capital.
“We will certainly need new investors because a lot of money is required to resuscitate the mines.”
Analysts say Government should treat with urgency the revival of the mines, considering the world’s fastest growing economies’ demand for asbestos.
Brazil, Russia, India and China have eclipsed some uncertainties over the continuity of asbestos mining after some European countries imposed a ban on the mineral.
South Africa, which was the biggest importer of Zimbabwean asbestos, has stopped using asbestos products.
According to Turnall Holdings, local asbestos has a strong market, with a capacity to absorb US$2 billion worth of the mineral per annum.
For instance, China, the second largest economy after the US, has over one billion consumers of asbestos products and is expanding production.
Turnall said the demand from the BRIC countries would be sustained in the next 20 years.
Asbestos could be the only mineral in the country that has not experienced growth over the past two years and Zimbabwe has been spending millions of dollars on fibre imports from Russia and Brazil.