MMCZ chief executive officer, One-simo Moyo, described the deal as “strategic,” adding it could turn out to be a catalyst for the accelerated marketing of Zimbabwe’s minerals in China.
Jinchuan Group is the largest producer of nickel and cobalt in China. According to the company’s website, the output of nickel and PGMs accounts for more than 90 per cent of the total produced in China.
While details of the joint venture between the MMCZ and Jinchuan were still sketchy, sources said it could result in the highly capitalised Chinese firm joining the current race to exploit Zimbabwe’s largely untapped nickel reserves and compete with established players such as BNC in the extraction of nickel.