According to the Zimbabwean newspaper, The Herald, a team of Russian miners is visiting Zimbabwe in order to explore opportunities in the lucrative platinum sector.

Following an invitation from the Embassy of Russian Federation, a team from Russian mining giant Norilsk Nickel has arrived to study the local platinum group metal (pgm) industry.

Yesterday the visitors met representatives from the Zimbabwe Mining Development Corporation (ZMDC) to discuss possible ventures.

Domnic Mubayiwa, ZMDC acting chief executive, said members of the company were already engaged in exploration activities in a 3,000 hectare claim near Zimbabwe Platinum's Ngezi complex.

'We are optimistic that there are significant deposits of platinum and platinum group metals within our claim which can be exploited,' he commented.

The team will spend the next three days in the country, and has also scheduled visits to the BHP mine in Chegutu.

Zimbabwe hosts some of the largest deposits of platinum in the world after South Africa.

Comment

Henk de Hoop, analyst at Barnard Jacobs Mellet in South Africa, made the following comments about the above story.

Zimplats and Implats management ..(have said)..they are not aware of any nearby exploration activity or ZMDC mineral holdings near Ngezi, and point out that the 3 key PGM containing regions (Hartley, Selukwe and Wedza) on the Great Dyke are fully controlled by private companies. This is confirmed at the end of the original article where it is stated that 'Zimbabwe has three producers of platinum group metals, Zimplats, Zimasco (now 50/50 Implats/Aquarius) and Anglo American', followed by 'the three mines control all of Zimbabwe's platinum deposits'.

Company management suggested therefore that either the article referred to the as yet poorly explored most northern chamber, the Musengezi Complex, or that the government holds claims to the south of Ngezi, which are effectively barren, despite their position on the Great Dyke.