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President Emmerson Mnangagwa has officially commissioned the Palm River Energy Metallurgical Special Economic Zone Project in Beitbridge, a groundbreaking US$3.6 billion investment that promises to transform Zimbabwe’s mining and energy sectors.
Spearheaded by Chinese firm Xinganglian Holdings, the project aims to establish an advanced chromium processing facility while integrating a green energy power generation initiative. With a projected output of 200,000 tonnes of ferrochrome annually, the venture marks a significant step towards industrial growth and economic expansion.
Mines and Mining Development Minister Winston Chitando hailed the initiative as a testament to the success of the Second Republic’s “Zimbabwe is open for business” mantra. The project, which has received backing from Tuli and Wanjii Mines, is expected to create employment opportunities, boost the nation’s GDP, and contribute to sustainable economic development.
President Mnangagwa’s commissioning of this ambitious project highlights the government’s commitment to attracting foreign investment and driving industrial progress. According to Minister Chitando, the groundwork for the initiative was laid through high-level engagements between the company’s chairman and the President, culminating in a directive for its implementation as an integrated mining and energy park.
The long-term development of the Palm River Energy project over the next 12 years underscores Zimbabwe’s strategic push to enhance its natural resource beneficiation capabilities while advancing energy security. With significant investment and government support, the project is poised to be a key driver of economic transformation in the region.
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