Russian Investors Quit Zimbabwe’s Multibillion Dollar Platinum Project

Construction of the 'box cut' at the GDI site at Darwendale, July 2020. The box cut is the first step in excavation, providing a portal into the underground mine

HARARE — Russia’s Vi Holding has quit its involvement in Zimbabwe’s Great Dyke Investments platinum company.

The Russian company has ceded its 50% stake in the company to Zimbabwe’s Kuvimba Mining House Ltd., according to an email from Great Dyke, which didn’t give a reason for the change in shareholding. Igor Higer, who had served as Great Dyke chairman and is a represenative of Vi, said his company has exited the arrangement.

Great Dyke owns the Darwendale platinum deposit and has said it planned to build a $3 billion mine to extract the metal. – Bloomberg