Harare, Zimbabwe — 05 June 2013 – Meikles Limited “’ newly formed to focus on the development of mining and resource opportunities in Zimbabwe “’ intends starting mining operations in the country next year, following the news that its investment vehicle, Meikles Resources has obtained a special mining grant in the Midlands province.
Revealing this in a statement released here and seen by allAfrica.com, the company said the special grant allowed the group to prospect for various minerals, including iron ore and chrome, and that it also had opportunities relating to gold and tantalite.
“We plan to have at least one mine in operation in 2014, said the company. “We have signed a memorandum of understanding, which will shortly become a full shareholders’ agreement, with a substantial technical partner to pursue these opportunities, including the provision of necessary capital, skills and expertise in the mining,” the statement added.
The Zimbabwe Stock Exchange-listed firm did not say how much was needed to start the mine, but indicated that “the division will raise its own capital and will not be dependent on the group’s financial resources.”
Source: allAfrica.com. For more information, click here.