Zimbabwe is seeking international partners to help develop a $500 million platinum mine at Darwendale, west of Harare, as it looks to unlock an estimated 44 million ounces of platinum-group metals from the deposit. The project is being promoted by state-owned Mutapa Platinum Group as part of broader efforts to attract mining investment and raise output, Reuters reported.
Mutapa Platinum Group Chief Executive Munashe Shava said the company has entered discussions with potential investors and financiers, adding that the group is close to securing funding for the project. He said the mine is expected to begin development within months, with open-pit operations planned over an estimated seven to ten years, based on remarks cited in Bloomberg reporting.
Darwendale lies along Zimbabwe’s Great Dyke, a geological formation that hosts some of the world’s largest platinum reserves. Zimbabwe holds the third-largest platinum resources globally, after South Africa and Russia, and authorities see the project as key to expanding the country’s platinum industry and increasing foreign currency earnings.
Business Insider Africa says the funding push highlights both the scale of Zimbabwe’s mineral potential and the capital challenges facing new mining projects. Securing partners for Darwendale would mark a significant step toward revitalising platinum investment as producers navigate volatile metal prices and rising development costs.
