Darwendale is the Project of the integrated development of one of the world’s largest PGM deposits located in the Republic of Zimbabwe. Darwendale deposit is a part of the Great Dyke and one of the world’s largest deposits of PGM resources. The deposit is 65 km away from the capital city of Harare. The Project is being implemented by Great Dyke Investments (Pvt) Ltd, a Joint Venture established on 50/50 basis between Russian and Zimbabwean companies — a subsidiary of Vi Holding and a Zimbabwean partner company .
Investments
-
$500
mln
Stage 1 investments
-
$2
billion
Total investments for full capacity production
-
8 000
Jobs in the operating area
The Intergovernmental agreement has been signed in support of the deposit development by both Russian and Zimbabwean governments, which gives the Project participants a wide range of guarantees. The Special mining lease and the National project status with significant preferences and benefits have been granted to Project by the Zimbabwean authorities.
Following the exploration in 2016, the Resources and Reserve Report was prepaid according to the JORC standard. Laboratory and pilot testing was conducted to specify process parameters. In 2017, a Bankable Feasibility Study was prepared. Process and ecological safety issues, production efficiency considerations were fully canvassed in the course of the Bankable Feasibility Study preparation, required tests were conducted and provisional arrangements on production distribution made.
Resource potential
-
550 tons
Total resources with a growth potential
-
243 tons of PGM
Deposit reserves (proven+probable)
-
2,95 g/t
Average PGM content in ore
Production
-
860
koz PGM/y
Full capacity
-
40
years
Project life cycle
-
Top-5
In full production
A team of qualified experts and contracting entities with world-class experience in developing analogous large scale mining and concentration complexes, including a global EPC contractor - Fata EPC (Italy), the major underground mining contractor within the South Africa region – Murray & Roberts Cementation (SA), DRA (SA), which prepared the Bankable Feasibility Study for the Project, MSA Group (SA), TOMS (Russia), Metallicon (SA) and Loesche (Germany) engineering and technology companies are taking part in the Darwendale Project implementation. Analytical support is provided by SFA Oxford (UK), leading consultants in the PGM market analysis. PwC are the auditors, Сresco Project Finance (SA) and EY are engaged as financial advisers.
In 2018, African Export-Import Bank (Afreximbank), one of the leading African banks in the sector of financing large scale international projects was engaged as a mandated lead arranger. The Project is one of the most efficient in the industry by capital and operating costs due to the favorable mountain and geological conditions (shallow dipping of ore bodies). The deposit has all necessary infrastructure in place: power lines, railways, roads, water sources and is in close proximity to refining facilities in South Africa.
Read more www.greatdykeinvest.com
Management
Alex Ivanov
Chief Executive Officer