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Zimbabwean chrome miner to invest $50M
New mining projects Zimbabwe’s African Chrome Fields (ASF) has invested more than $220 million in chrome mining in the country’s Great Dyke, and the company is planning to invest a further $50 million in gold mining.
Ashruf Kaka, the company’s natonal projects liaison officer, said that ASF is also considering to invest additional funds in the diamond industry.
“Each one (of the new projects) will be different. The gold industry –that one will be assessed on its own merits, but that should be in the region of about $50 million,”Kaka told local daily The Herald Business. “In the diamond industry that would probably be in the region of $5 million to $10 million.”
ASF is part of South Africa’s Moti Group which is headed by Zunaid Moti. The group says it employs directly and indirectly about 2,500 persons throughout Sub-Saharan Africa.