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US$2 billion Chinese shot in Arm for Zimbabwe
BULAWAYO: A new mining company in the Gwayi area of the Matabeleland North province of Zimbabwe ? China-Africa Sunlight Energy ? is to invest over US$2 billion in projects involving coal mining, methane coal bed gas extraction and thermal power generation.
The company was established in 2011 through a joint venture between Oldstone Investments, a Zimbabwean investment vehicle, and Shandong Taishan Sunlight, a Chinese conglomerate.
allAfrica.com reports that unveiling the huge investment plan in Bulawayo this week, China-Africa Sunlight Energy deputy general manager Charles Mugari said the company intended to start operations mid-year once it received an Environmental Impact Assessment certificate from the Environment Management Agency.
Read the full article on www.miningreview.com.
