Categories: Stories

Every Zimbabwean can be a millionaire says Mphoko

Every Zimbabwe can be a millionaire because Zimbabwe is sitting on $15 trillion worth of mineral resources Vice President Phelekezela Mphoko, who is currently the acting president, said yesterday.

“Zimbabwe is number two in terms of platinum depots followed by Russia at number three — which gives us 2.8 billions tonnes of reserves of platinum,” he said during a tour of Mashonaland West according to The Herald.

“If you multiply 2.8 billion tonnes of platinum by $1 500 per ounce, we are not supposed to be poor. Now, if we add on top of 2.8 billion tones, we add gold which ranges between 25 million tones of reserves throughout the country at $1 100 per ounce, and then we add diamonds —those three minerals account for $15 trillion dollars. Why should we be poor?”

Mphoko said Zimbabwe was poor because of sanctions imposed by the West but with commitment, Zimbabwe could beat these sanctions, especially on the Great Dyke where it was involved in a joint venture with Russia which is also under US sanctions.

 “We are all under sanctions. You cannot apply sanctions to a rich country like Zimbabwe. You can’t. Forget. You are wasting your time because if we talk about these minerals and you think you can make us starve, it is impossible.  Maybe if we were a banana republic with no natural resources, maybe you can win, but not a country with such massive natural resources.”

(404 VIEWS)

This post was last modified on July 9, 2015 9:33 am

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Reserve Bank of Zimbabwe expects more foreign currency sellers to join the interbank market

The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…

December 4, 2024

Zimbabwe 2025 citizens’ budget

Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…

November 28, 2024

To go or not to go- Mnangagwa in a quandary

Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…

November 25, 2024

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024