December 19, 2024
Platinum miner acquires US$5mln rigs
Platinum miner, Bravura Holdings, has acquired in-house owned core drilling rigs at a cost of $5 million for its site in Mhondoro-Ngezi.
The mining firm’s country director, Lionel Mhlanga, said they had completed nearly 40 000 metres of core drilling.
“The company has completed phase one and phase two of the resource confirmation and nearly 40 000 metres of core drilling done. In-house-owned core drilling rigs were acquired at a cost of nearly US$5 million. High tech exploration laboratory was acquired, installed and commissioned at a cost of US$$500 000,” he said.
Mhlanga said the company has a workforce of 200 made up of direct employees and sub-contractors, most of whom are locals.
The mine has not recorded lost time injury or fatality since inception.
Bravura Consortium is a multi-national mining house registered in the Republic of Dominica, and is domiciled in Ghana, with subsidiaries in Nigeria, DRC, Guinea and Zimbabwe.
In Zimbabwe, through a mining agreement signed in 2019, the group pledged to spend more than US$50 million to explore and mine platinum.
The country is seeking to exploit its reserves of platinum, which is expected to contribute at least US$3 billion under the US$12 billion mining industry by 2023 strategy.
Bravura is expected to eventually sink more than US$250 million in platinum-related investments in Zimbabwe as part of the deal.
The mining consortium is targeting to become Zimbabwe’s fourth major platinum miner after Zimplats, Mimosa and Unki.
