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Harare Bureau
MINING investor Mr Nandlal Goenka has injected millions into the Zimbabwean economy amid indications that he is aiming to spend more in the extractive sector.Through his offshore companies and resources, the Indian tycoon has financed a number of gold and chrome operations across the country.
Mr Goenka yesterday said the assets were mainly held through Excellent Energy and Minerals (Excellent Energy), Indozim Gold Mines (Private) Limited (Indozim), Prowick Investments (Prowick) and Pure Minerals Zimbabwe (Private) Limited (Pure).
“I can confirm that we have made quite a number of investments into the Zimbabwean economy since 2010 and are actually hoping to increase our footprint in key sectors such as mining, and others,” he said.
“From where we are standing, we have gotten tremendous co-operation and help from authorities, and other stakeholders, including our local partners.” Mr Goenka added that he had a huge interest in the country’s hugely-endowed mining sector. As chairman of a globally-renowned gem processing company Goenka Diamond and Jewels, he said the group would continue leveraging its international exposure and reach to tap investments for the country.
With a majority stake in the Bombay-listed behemoth, the Hindu businessman runs the thriving US$800 million enterprise – across 13 global offices and strategic locations – with his two sons. Apart from his flagship Sirius Mine in Selous – employing up to 125 people and owned via Prowick – Mr Goenka has kept expanding his empire with the acquisition of a Banket and Mazowe gold mine under Indozim.
Equipment has already been delivered to the promising assets as the investor prepares for production. On the other hand, his chrome mining assets are held under Pure and the mainly Mashonaland-based ventures are well supported by Mauritius-based Cosmic Resources (Private) Limited.
And probably reflecting his confidence in the local economy, the gold and diamond baron has also acquired key mineral concessions – under Excellent Energy – in Zimbabwe’s lowveld.
Mr Goenka has also helped a lot with the Chiadzwa gem industry, he has been a key buyer – through public tenders – of the Marange product.
Online Reporter