Nigerian billionaire and owner of Bravura Holdings Ltd, Benedict Peters is perfecting plans of establishing a platinum mine in Zimbabwe.
The mine projected to be worth a billion dollars would sit on a 3,000 hectare (7,413-acre) concession located in Selous, not too far from the south of Zimbabwe’s capital – Harare.
Speaking to newsmen on the projected growth of the mine, the manager of Bravura Holdings Lionel Mhlanga said: “we will go to resource definition, after that we will go to resource modelling, after mine development and then mine construction.
“Those are all we plan to achieve in the next 18 months.”
The announcement of the deal struck many as a surprise owing to the fact that the oil magnate has little exposure and experience in mining, yet plans to mine Platinum in Zimbabwe.
It is worthwhile to note that Platinum is a silver whitish metal is used in making jewellery and electronics.
The metal with currently trades at $889 is traded as a commodity on various commodity exchanges globally.
Bravura is one of a few less popular firms that have confirmed platinum concessions in Zimbabwe as the South African country seeks to rejuvenate its stunted economy.
Although Zimbabwe is home to the world’s third-largest platinum group metal reserves, investors have been deterred from exploiting the reserves by frequent changes to mining laws and currency policies.
Asides owning Bravura Holdings Ltd, Benedict Peters is also the owner of Aiteo Eastern E&P Company Limited that manages integrated energy companies.
The Company focuses on refining, supply, and marketing of petroleum products, exploration, production, bulk storage, as well as offers power generation and distribution services.
