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SA company to donate machinery to Zim miners

  1. Posted on Monday 11 October 2010 - 15:38
    ronny zikhali
    by Ronny Zikhali

    THE Zimbabwe Miners Federation (ZMF) has entered into a Memorandum of Agreement with a South African firm that will see the acquisition of 1000 compressors and accessories at a cost of US$2 million from China.
    ZMF chief executive officer, Mr Wellington Takavarasha said they had entered into a deal with Sethembe Investments (Pty) Ltd in South Africa for the supply of compressors and accessories from Zhejiang Jiacheng Machinery Company in China at a cost of US$2 million.
    He said under the deal Sethembe Investments was going to deliver the first consignment of 20 compressors this month to ascertain the viability of the project.
    “Our aim is to put together affordable financial structures that empowers the more than 20 000 small-scale miners and elevate them to middle or big miners which will ultimately lead to more output from our members,” he said.
    A copy of the agreement in possession of Sunday Business states that ZMF appointed Sethembe Investments as one of the agents to supply mining equipment from China for the small-scale miners in the country.
    The agreement further states that should the project prove to be unviable Sethembe Investment would terminate the contract.
    Upon receiving equipment and paying their final installments, the beneficiaries of the project are expected to supply the requisite collateral to ZMF in the form of mine ownership documentation and entitlement deeds.
    According to ZMF it is cheaper to acquire the equipment from China through Sethembe Investments compared to buying them regionally. On the regional market the compressors cost between US$15 000 to US$20 000 while it would cost US$4 200 if bought from China through an agent.
    Mr Takavarasha said it was their desire to see their members growing big and increasing mining productivity hence the need to look for cheaper alternatives of equipment. The lack of mining equipment has over the years remained the biggest challenge to small-scale mining sector.

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