Zimbabwe central banker stockpiles gold to bolster ZiG currency
The ZiG - short for Zimbabwe gold — is the nation’s sixth attempt at having a functioning local currency in the last 15 years.
The Zimbabwean government will meet with Bravura Holdings Ltd., a company owned by Nigerian billionaire Benedict Peters, over delays to a platinum project in the southern African country, the deputy mines minister said.
“We are meeting them later this week” and are “worried,” Polite Kambamura said in an interview in the capital, Harare.
Bravura was awarded a 3,000-hectare (7,400-acre) concession in Selous, about 50 miles south of the capital, in 2019.
Calls and emails to Bravura’s management in Harare went unanswered.
Zimbabwe has the world’s second-largest reserves of platinum, which occurs with base metals including nickel and copper.
Peters owns Aiteo Eastern E&P Co., Nigeria’s biggest domestic oil producer, but has little experience in mining.
(By Godfrey Marawanyika)
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