President Mnangagwa Launched $3.6 Billion Palm River Energy Metallurgical Special Economic Zone yesterday
By Tinashe Mukori
Beitbridge, February 25, 2025 – President Emmerson Mnangagwa officially launched the Palm River Energy Metallurgical Special Economic Zone, a transformative $3.6 billion investment expected to drive Zimbabwe’s industrialization and modernization efforts.
Speaking at the launch ceremony in Beitbridge yesterday , the President hailed the project as a testament to the strong partnerships between the government and the private sector, emphasizing its significance in advancing the country’s economic development.
“This project is a reflection of our commitment to fostering investment confidence in Zimbabwe. It is a result of my government’s Engagement and Re-engagement Policy, which continues to attract investors from across the world, particularly from our strategic partners such as the People’s Republic of China,” he said.
A major boost for the Mining and Energy Sectors
The President underscored the critical role of the mining sector in economic growth, citing its contributions to employment creation, infrastructure development, and revenue generation. He expressed optimism that the Palm River Energy Metallurgical Special Economic Zone would be a key driver of national economic progress.
“The integration of energy and metallurgy in this Special Economic Zone will redefine our industrial landscape. The focus on sustainable mining, low greenhouse gas emissions, and energy self-sufficiency aligns with global best practices,” he noted.
The project, spearheaded by Zimbabwe Xintai Resources (Pvt) Ltd under the investment entity Xinganglian (Shanxi) Holding Group Co. Ltd, is set to produce two million tonnes of chromium-based materials and one million tonnes of coke annually.
Additionally, the company plans to construct a 1,200 MW green power and integrated power generation plant, with the first phase already completed. A 100 MW thermal power plant is currently being commissioned, with expectations to produce 50 MW by the end of March. The coal wash plant and chrome smelting plant have also been completed.
Commitment to Social Responsibility and local development
President Mnangagwa urged mining companies to actively engage with local communities and prioritize corporate social responsibility initiatives. He commended Zimbabwe Xintai Resources for its ongoing community-focused projects, including employment creation, job training, and student attachment opportunities.
“I am pleased to note that the company, in collaboration with local leaders, has already drilled boreholes to provide clean water for the community. Plans to establish a clinic and a recreational park should be expedited to enhance the well-being of local residents,” he said.
The President also highlighted the importance of skills development and knowledge transfer in the mining sector. He welcomed the partnership between Shanxi Engineering Vocational College and Harare Polytechnic, which will offer scholarships for Zimbabwean students to study metallurgy, mechanical engineering, and electrical engineering in China.
Vision 2030 and the future of Zimbabwe’s mining industry
Reaffirming his government’s commitment to value addition and beneficiation, President Mnangagwa emphasized the need to maximize the benefits of Zimbabwe’s mineral wealth in line with the Africa Mining Vision.
“Our focus is to drive industry development and economic growth by ensuring minerals are processed locally, creating more jobs and boosting exports. The Palm River Energy Metallurgical Special Economic Zone is a crucial step in that direction,” he stated.
As he declared the project officially launched, the President called for collective efforts to ensure its success, urging engineers and all stakeholders involved to view it as a legacy-building initiative.
“My government fully supports this project and will work alongside all stakeholders to ensure shared success. Let this be a model of excellence, innovation, and prosperity for generations to come,” he concluded.
With the official launch of the Palm River Energy Metallurgical Special Economic Zone, Zimbabwe takes another significant step towards achieving its Vision 2030 aspirations, positioning itself as a competitive player in the global mining and energy sectors.
ZANU PF PATRIOTS INFORMATION DESK
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