HARARE - The long-awaited Matabeleland Zambezi Water Project whose main component is the construction of the Gwai-Shangani dam is in limbo due to financial constraints. (Pictured: Dumiso Dabengwa hopes mining ventures will fund the project)This is amid revelations that the Matabeleland Zambezi Water Trust has applied for a mining license in an effort to get revenue through mining to complete the project.
The chairman of the Matabeleland Zambezi Water Trust, Dumiso Dabengwa, said the project was at a stand still due to financial constraints. However, he revealed that as part of efforts to boost its revenue base, the Matabeleland Zambezi Water Trust (MZWT) had applied for a mining license from the Ministry of Mines and Mining Development. This was so that they could raise part of the money needed for the completion of the project.
The total amount of money needed for the completion of the project is US$50 million.
Dabengwa said if granted the license they would engage in the mining of coal and methane gas, adding that investors had expressed their willingness to partner them in their mining venture.
Post published in: World News