Moti said he’d be willing to sell as much as 25 percent to the right partner, but ruled out any prospect of an initial public offering.
Zimbabwe Mining News
It gives the company access to 23,903 hectares of land in the country Great Dyke, which has a potential for 96 million ounces of platinum and palladium.
The miner's Zimbabwean subsidiary, Zimplats, has released 23,903 hectares of its mining claims to the government.
Mines Minister Winston Chitando had last month promised to remove the requirements, which he said caused panic among foreign mining firms.
Tharisa would join Karo Resources, founded by mining entrepreneur Loucas Pouroulis, in building the mine.
The Australian-listed company expects to secure more than $55 million in funding for the first phase of the Arcadia Lithium project.
Zimbabwe will remove the clause from a mines amendment bill now before parliament, the mines minister said on Friday.
President Emmerson Mnangagwa has been trying to shore up foreign investor interest in a country rich in mineral resources but starved of capital.
Mugabe to face legislators over his previous pronouncements that the state had been deprived of at least $15 billion in diamond revenue by mining companies.
Zimbabwe Mines Minister Winston Chitando said the country would generate revenue of $1.4bn over eight years from the Kamativi lithium project.
The two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources.
The company is negotiating the possibility of buying the government’s 16 per cent stake in the Blanket project.
The illegal miners at Smithfield last month told Grace that she no longer had any power to evict them.
Former leader Robert Mugabe will have to answer questions next month about whether the state was deprived of $15 billion in diamond revenue.
The Moti Group would be open to listing the stock in its operation provided it makes “business sense and has a strong rationale behind it.”
Zimbabwe is looking to sell shares in 35 state-owned firms, including telecoms and mining entities.
The miners say they won’t leave unless president Emmerson Mnangagwa asks them to.
Impala Platinum Holdings Ltd. sees little interest in a listing among local investors.
Move aims at boosting investment and local ownership of the country's vast mineral resources.
The government says mining commitments reached as much as $6 billion since Mnangagwa’s appointment.
Mugabe was touring the farm when she ran into the miners.
It was unclear where all the funding would come from and analysts said the project start date of July looked very ambitious.
Moti Group is preparing to double its investments in Zimbabwe to $500 million after the removal of Robert Mugabe as president in November.
The mpowerment laws now limit majority ownership by state miners only to the diamond and platinum sectors, as oppose to the entire mining sector.
RioZim Ltd., a Zimbabwean diamond, nickel and gold miner, wants to more than double output of gemstones at its Murowa mine.