Details and value of agreements between Zimbabwe and China- Mthuli Ncube

In Table 2:

• We have IDC Phase 1 amounting to US$14.6 million signed on 8th August, 1997, through China-Exim Bank.
• There is IDC Phase 2 signed on 19th January, 2000 amounting to US$7 million, through China-Exim Bank.
• We have DDF Equipment project of US$8.6 million signed on 23rd February, 2001 again from China-Exim Bank.
• There is Sinosure-M of-ZISCO Steel amounting to US$54.8 million signed on 15th August, 2012, from China-Exim Bank.
• There is Agriculture-Mechanisation Equipment and Implements Project 1 worth US$29.2 million signed on 13th October, 2006 from China-Exim Bank.
• There is the Equipment and Implements Project 2 worth US$37. 6 million signed on 22nd February, 2008 again through China-Exim Bank.

The outstanding debt to China stood at US$1.768 billion as at 22 August, 2022.

I now turn to category C of the question from Hon. Markham, regarding the private-public-partnerships (PPPs).  The joint venture agreements processed through ZIDA are as follows: Here again I am focusing on China PPPs, I am assuming the question was only focusing on China.

1. The first one is the Mhangura Dumps PPP, focusing on copper production. It is worth US$10 million.  It was signed between ZMDC and Zhi Jui Mining Resource Private Limited.  This is a five year contract mining arrangement where ZMDC is engaging Zhi Jui Mining Resource for treatment of copper dumps at Mhangura.   It is a five-year contract.  It was signed in June, 2021.
2. The second one is a partnership between ZMDC Sim See and Honghua International for the resuscitation of Angwa Shaft mine and processing of copper dump at Chidzikwe. This arrangement is worth US$20.2 million.  It is a 10-year arrangement and the contract was signed in September, 2021.
3. The last one is a US$66.6 million project which is a partnership between Dinson Iron and Steel Company (DISCO) for the construction of 100 km electricity power line from Sherwood to Manhize. It is a US$66.6 partnership between DISCO and ZETDC, a subsidiary of ZESA holdings.  That will be for the construction of a 100 km power line from Sherwood to Manhize and that will include a substation.  It is a five-year arrangement and the project has just been approved by Cabinet.  The contract has been signed.  It is paving way for the project to commence.   This ends my report on the PPPs.

I now turn to the last section of the question from Hon. Markham pertaining to the export and national base resources, including those that are enshrined in agreements.  Government contracted a US$200 loan in October, 2006 for the farm mechanisation equipment.  The loan was collateralised with mining rights to the 26 million ounces of platinum resources in Selous which were owned by Government through the Zimbabwe Mining Development (ZMDC).

The loan is currently in arrears amounting to US$172 million.  This was to be implemented following the fulfilling of certain conditions, which included validation of the resources that were used as security and determination of the amount of the resources according to internationally accepted funders and valuation funders.  I thank you.

Continued next page

(117 VIEWS)

Don't be shellfish... Please SHARE

Google

Twitter

Facebook

Linkedin

Email

Print