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Lovemore Zigara Business Correspondent
ZVISHAVANE-BASED platinum miner, Mimosa Mining Company has poured more than $1,4 billion into the economy over the last five years in various investments and initiatives, a senior company executive has announced.Mimosa, a joint venture between Implats and Aquarius which posted a net loss after tax of $13 million for the year ended June 30, 2014 has expressed commitment to continue operations in the country.
Mimosa executive chairman Winston Chitando announced that the company had during the year injected $1,4 billion dollars into the economy.
He said this last week while speaking to the Youth, Indigenisation and Economic Empowerment Minister Christopher Mushohwe during the tour of projects funded by the Zvishavane Community Share Ownership Scheme (ZCSOT).
Chitando said: “As Mimosa Mining Company we have poured $1,4 billion into the Zimbabwean economy during the past five years. This is just to illustrate that as part of our operations there is a lot which is going into the community and also to local indigenous industries.
“Part of the payments we have done in the last five years includes $298 million which has been paid out to local suppliers and of that amount $234 million has been paid out in respect to goods and services to local suppliers.”
Turning to the disbursement of the balance of the $10 million seed capital of the ZCSOT, Chitando said the company was making efforts to clear the balance.
Mimosa has so far disbursed $6 million towards the scheme.
Minister Mushohwe called on the mining giant to ensure that Mberengwa also benefits from the scheme since 25 percent of the mining conglomerate claims fall under the district.
“There’s need to see to it that Zvishavane and Mberengwa sit down and map the way forward on how both parties can benefit from the funds. I’m confident that an amicable solution will be found,” he said.
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