ZMDC ‘still talking to potential investors’

operations at Kamativi.
The closure was necessitated by the unexpected slump of tin prices on the global market to an all-time low of US$4 000 per tonne. Before the price depression, tin was fetching US$10 000 per tonne.
ZMDC chairman Mr Godwills Masimirembwa said they were still engaging potential investors.
“We are still talking to potential investors. Management held a meeting with a potential investor last week,” he said.
He, however, would not be drawn into revealing the outcome of the meeting.
Tin mining was a major economic activity in Matabeleland North Province and at its peak, Kamativi produced oe million tonnes of tin annually with a staff complement of about 1 000 employees.
Tantalite and lithium are some of the minerals which are recovered during the processing of tin.
Currently, a tonne of tin is fetching between US$21 000 and US$22 000 per tonne on the international market.
Commercially, tin is used in electroplating, creating alloys and manufacturing kitchen utensils.
Indonesia is the world’s largest producer of tin. — New Ziana.