The chief executive of London-listed Mwana Africa Kaala Mpinga has described Zimbabwe, shunned by most investors because of its foreign investment laws, as one of the best countries in Africa to invest in.
“I’ve worked all over Africa”, he told Minesite. “Zimbabwe is the best. The labour is good. The VAT is good.”
Mwana Africa, which owns Bindura Nickel Corporation, is planning to raise $20 million to restart its refinery and has a deadline of 23 January.
“Bindura gives a very consistent, stable recovery”, Kalaa said. “Our recoveries on nickel are lower than they were, but that’s a conscious decision. The higher the recovery, the higher the MGO content, and the financial benefits of losing on the recovery far outweigh the penalties of losing on the MGO. The mills and the concentrator are doing well. What we need to do is push volumes.”
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