Chronicle Editor
UPDATE
“President Mnangagwa’s vision for economic transformation highlighted at Palm River Energy groundbreaking” – VP chiwenga
Nqobile Bhebhe in Beitbridge
Vice President Dr Constantino Chiwenga has said the groundbreaking ceremony of the US$3.6 billion Palm River Energy Metallurgical Special Economic Zone in Beitbridge is a demonstration of President Mnangagwa’s unwavering commitment to unlocking the country’s abundant natural resources for transformative economic progress.
Speaking at the groundbreaking ceremony in Beitbridge, Dr Chiwenga said the event marked a significant milestone in Zimbabwe’s ongoing journey towards industrialisation, sustainable development, and economic growth under the Second Republic.
“The project we are launching today stands as a testament to the unwavering commitment of our guest of honour in unlocking Zimbabwe’s abundant natural resources for transformative economic progress,” he said.
He added that the special economic zone is strategically positioned to serve as a regional hub for metallurgical and energy production, benefiting not only Zimbabwe but the entire Southern African region.
He noted that through President Mnangagwa’s steadfast commitment to engagement and re-engagement, significant strides have been made in improving the country’s investment climate, streamlining the ease of doing business, and building investor confidence.
“In doing so, the government has laid a solid foundation for sustainable economic growth. Furthermore, the prioritisation of economic diplomacy highlights the importance of strengthening international relations and positioning Zimbabwe as a leading destination for investment.”
“Through his steadfast commitment to engagement and re-engagement, our guest of honour has made significant strides in improving the country’s investment climate, streamlining the ease of doing business, and building investor confidence.”
UPDATE
Re-engagement and engagement a boost to investor confidence – President
Thupeyo Muleya, Beitbridge Bureau
President Mnangagwa has said that the re-engagement and engagement of old and new strategic partners has helped boost investor confidence in Zimbabwe.
He noted that more players were now taking up opportunities, especially in the mining and energy sectors.
The move, he said, will greatly contribute to Zimbabwe’s industrial and national economic development.
The President made the remarks while officiating at the ground-breaking ceremony at the Palm River Energy industrial park in Beitbridge on Monday.
“Our re-engagement and engagement initiative as the Second Republic is paying dividends,” said the President.
“We commend Xintai Resources for coming forward to invest in the mining and energy sector through the setup of this industrial park, whose first phase is almost complete.”
The project, whose first phase is being carried out by the Government and the Chinese mining company, is being executed in four phases over 12 years.
It is expected to include a coking plant, a thermal power station, a ferrochrome processing plant, and a carbon and steel plant.
UPDATE
Beitbridge residents reap benefits of US$3.6 Billion energy and mining development
Nqobile Bhebhe in Beitbridge
The Beitbridge community is enthusiastic about the US$3.6 billion Palm River Energy Metallurgical Special Economic Zone, a partnership between the government and a Chinese mining company that has boosted local employment prospects.
The US$3.6 billion energy industrial park, situated 20 km west of Beitbridge, has already generated hundreds of jobs, spurring economic activity in the area.
This multi-sector project is anticipated to create thousands of job opportunities and foster economic growth in Beitbridge, a vital border town between Zimbabwe and South Africa.
Given its strategic location, Beitbridge has long been an economic hub.
The new investment will improve infrastructure, such as roads and utilities, which will enhance trading opportunities between Zimbabwe and neighbouring countries in the long term.
“This is a clear demonstration of the government’s commitment to ensuring no place is left behind. Employment opportunities have been enhanced for the community, especially the youth.
“We urge the government and private sector to set up technical colleges to train the youth in mining activities,” said a local representative, Mr Samuel Tlou.
According to the project overview, upon its completion, it will provide 10,000 jobs for the community and address a significant number of employment challenges.
At the same time, it will provide technical training to Zimbabwean employees, improve their professional skills, and facilitate the integration of teaching and practice in technology transfer and skill enhancement.
At present, there are more than 300 Chinese teams and more than 800 Zimbabwean teams, totalling over 1,000 project teams.
A joint venture has been established with the sovereign wealth fund directly under the Ministry of Finance, Economic Development and Investment Promotion to jointly develop the Turi open-pit coal mine, which has now entered normal mining operations.
Additionally, a high-quality coking coal mining agreement with Wanji Coal, a state-owned enterprise in Zimbabwe, has been signed, and exploration has been completed.
The coal washing, coking, ferrochrome smelting, and tail gas power generation projects in the Palm River Park have all commenced construction, with the coal washing and coking projects already successfully operational.
The tail gas power generation and ferrochrome smelting projects are set to be inaugurated at the end of February, marking the park’s entry into the substantive production and operational stage.
The expansion of coal and energy projects in the Matabeleland region is set to play a pivotal role in advancing the country’s re-industrialisation agenda, with far-reaching benefits for various business sectors.
A stable energy supply is crucial for domestic industries, as energy shortages remain a major constraint.
Additionally, potential foreign investors place significant emphasis on energy efficiency when assessing investment opportunities.
Strong expertise in the energy sector, combined with a robust local raw material base and a business-friendly environment, positions the country as an attractive investment destination.
The manufacturing sector, in particular, is expected to gain substantially from these developments—boosting export earnings, reducing the budget deficit, and creating high-value jobs.
These efforts align with President Mnangagwa’s vision of transforming Zimbabwe into an upper-middle-income economy by 2030.
UPDATE
President Mnangagwa launches US$3.6 Billion Palm River Energy Metallurgical Special Economic Zone in Beitbridge
Nqobile Bhebhe in Beitbridge
PRESIDENT Mnangagwa has carried out a symbolic ground-breaking ceremony and plaque unveiling of the US$3.6 billion Palm River Energy Metallurgical Special Economic Zone project here in Beitbridge.
This marks an example of growing investor confidence in the country under the Second Republic.
The landmark initiative has the potential to significantly transform the economy of the Matabeleland region, boosting industrial development and job creation.
Vice President Dr Constantino Chiwenga, Vice President Kembo Mohadi, Minister of State for Matabeleland South Provincial Affairs and Devolution Dr Evelyn Ndlovu, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube, Mines and Mining Development Minister Winston Chitando, Chinese embassy officials, several mining sector players, and Beitbridge community leaders witnessed the event.
The President and his delegation toured the industrial park.
The occasion marks a significant milestone in Zimbabwe’s economic development journey.
With its focus on energy, mining, and value addition, the project has the potential to transform the Matabeleland region into a hub of industrial activity and economic growth.
The initiative is expected to play a crucial role in strengthening Zimbabwe’s mining and energy sectors.
The project was set up following discussions between the company’s chairman and President Mnangagwa, who directed that it be established as an integrated mining and energy park.
Palm River is a multi-faceted project that will encompass mining, power generation, coke production, and steel manufacturing.
The project, which will ultimately produce stainless steel, is being implemented in phases.
The project covers an area of 5,163 hectares and is planned to be constructed in five phases, with a total construction period of 12 years.
The construction period for the first phase of the project is two years, with a total investment of US$237 million, mainly used for the construction of an annual output of 200,000 tonnes of ferrochrome and supporting coal mines, coking, infrastructure, and other projects.
In 2018, President Mnangagwa declared Beitbridge a Special Economic Zone as part of the Second Republic’s broader strategy to attract investment under the “Zimbabwe is Open for Business” policy.
The Government’s adoption of the SEZ model aims to enhance foreign direct investment (FDI), improve local business competitiveness, and drive economic growth.
UPDATE
President Mnangagwa arrives in Beitbridge for the ground-breaking of a US$3.6bn industrial park
Thupeyo Muleya, Beitbridge Bureau
President Mnangagwa has arrived in Beitbridge, Matabeleland South province for the ground-breaking ceremony of the Palm River Energy and Metallurgical Special Economic Zone.
The Government, in collaboration with a Chinese mining company, is developing a US$3.6 billion energy industrial park.
The President is accompanied by his two Vice Presidents, Constantino Chiwenga and Kembo Mohadi; Matabeleland South Minister of State, Dr Evelyn Ndlovu; Finance Minister, Prof Mthuli Ncube; Mines and Mining Development Minister, Winston Chitando; and other senior Government officials, representatives from the Chinese embassy, and mining experts.
The project, located 20km west of Beitbridge town, seeks to introduce the production of stainless steel.
The energy and steelworks initiative has already employed 400 local workers in its first year, with the expectation that it will ultimately employ over 2,000 people once it becomes fully operational.
The establishment of the park as an integrated mining and energy hub follows discussions between the chairman of Palm River Energy, Mr Xong Xi Dong, and President Mnangagwa.
The project will cover 5,100 hectares within a Special Economic Zone and is expected to make substantial contributions to Zimbabwe’s mining and energy sectors.
The first phase of the project is being carried out through a joint venture between the Government, Xintai Resources, and Tuli Coal.
After the ground-breaking ceremony, the President is expected to tour the park, which comprises a coking plant that will have an annual capacity of producing one million tonnes of coke, a ferro-chrome smelting plant that will produce 100,000 tonnes of high-carbon ferro-chrome, and a 1,200MW coal-fired thermal power plant.
Any surplus electricity will be transmitted to the national grid, while the ferro-chrome plant will facilitate the production of special and stainless steel and castings.
Coal supply to the project will be obtained from Tuli Coal Mine and, in line with plans to export coal products to international markets, will yield significant foreign currency earnings.
UPDATE
President to break ground on US$3,6bn Energy Park
Thupeyo Muleya, Beitbridge Bureau
PRESIDENT Mnangagwa is expected to visit Beitbridge today for the ground-breaking ceremony of the Palm River Energy and Metallurgical Special Economic Zone, a US$3,6 billion energy industrial park being developed in collaboration with a Chinese mining company.
The project, located 20km west of Beitbridge town, aims to introduce the production of stainless steel. The energy and steelworks initiative has already employed 400 local workers in its first year, with the expectation that it will ultimately employ over 2 000 people once it becomes fully operational.
The establishment of the park as an integrated mining and energy hub follows discussions between the chairman of Palm River Energy, Mr Xong Xi Dong, and President Mnangagwa.
The project will cover 5 100 hectares within a special economic zone (SEZ) and is expected to make substantial contributions to Zimbabwe’s mining and energy sectors.
The first phase of the project is being carried out through a joint venture between the Government, Xintai Resources, and Tuli Coal.
The park comprises a coking plant with an annual capacity of producing one million tonnes of coke, a ferro-chrome smelting plant that will produce 100 000 tonnes of high-carbon ferro-chrome, and a 1 200MW coal-fired thermal power plant.
Any surplus electricity will be transmitted to the national grid, while the ferro-chrome plant will facilitate the production of special and stainless steel and castings.
Coal supply to the project will be obtained from Tuli Coal Mine and, in line with plans to export coal products to international markets, will yield significant foreign currency earnings.
The mining sector’s role in Zimbabwe’s economy cannot be overemphasised, representing over 60 percent of the country’s export receipts and attracting more than 50 percent of foreign direct investment (FDI). It also contributes 13 percent to the national GDP, creating more business opportunities downstream, and generating tax revenue for the Government.
Ministry of Mines and Mining Development’s Deputy Director of Communications Advocacy and Mining Community Sustainability, Mr Wilfred Mabiza Munetsi, said the stage has been set for the Head of State’s visit to Beitbridge.
“We have covered a lot of ground in terms of planning and we are ready for the ground-breaking of the project by President Mnangagwa. The project covers an area of 5 163 hectares and is planned to be constructed in five phases, with a total construction period of 12 years. The construction period of the first phase of the project is 2 years, with a total investment of $237 million, mainly used for the construction of an annual output of 200,000 tonnes of ferrochrome and supporting coal mines, coking, infrastructure and other projects.
“In order to meet the raw materials required for production in the park, resource guarantee bases have been established in Tuli and Wanji respectively.”
He said upon completion of the Palm River Energy and Metallurgical Special Economic Zone, the project will become the world’s lowest comprehensive cost and the most competitive energy and metallurgical special economic zone of the whole industry chain.
Among other things, the project realises the recycling of energy, photovoltaic green power, coke oven, submerged heat furnace tail gas power generation, chromium iron water, liquid chromium slag, dust removal flue gas waste heat power generation, and the generated energy is reused for industrial projects in the park.
Mr Munetsi said besides creating thousands of jobs, the project will also provide technical training to Zimbabwean employees, improve their professional ability, and realise the integration of teaching and practice of technology transfer and ability improvement.
In 2018, President Mnangagwa declared Beitbridge town a SEZ as part of the Second Republic’s drive to attract more investment under the “Zimbabwe is open for business” policy. The Government’s adoption of the SEZ model aims to enhance FDI and improve local business viability, leading to increased employment and economic growth in targeted areas.
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