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Martin Kadzere Senior Business Reporter—-

GREAT Dyke Investments, a joint venture between Zimbabwe and Russia has completed the feasibility study on its $3 billion Darwendale platinum project.GDI chairperson Dr Hespina Rukato told The Herald Business that the completion of the feasibility study would determine the specific next steps of its massive project.

“We have completed the feasibility studies and we have a team which is now looking into key components of the report,” Dr Rukato said.

Last year, GDI contracted DRA to carry out the study. The feasibility study would be followed by the design of the first stage facilities of the mining and metallurgical complex. The Darwendale project is one of the major investments in the country in more than three decades.

Exploration work carried out has indicated availability of about 45 million ounces or 1 400 tonnes of Platinum Group Metals reserves. This is comparable with the largest deposits at Bushveld area in South Africa, as well as with deposits in the Norilsk ore region in Russia such as the Norilsk-1 and Talnakh. According to the company, exploration covered 130 000 meters while 870 holes were drilled, making the project the largest in terms of geological exploration in Zimbabwe for the few past decades.

Zimbabwe has the world’s second largest platinum deposits after South Africa and companies such as Angloplat, Impala Platinum and Aquarius Platinum Ltd are operating.

The country needs about $2,8 billion in new investments to double annual platinum production by existing operations to more than 900 000 ounces in the next 10 years from the current 450 000 tonnes, according to Zimbabwe Platinum Producers Association.

With vast platinum reserves, the platinum sector has potential to increase production by the current producers from about 458 562 ounces to 20 tonnes 705479 ounces by 2020 and to 26 tonnes 917 123 ounces by 2025, said the mining association.