Zimbabwe’s government-controlled The Herald reports that Raymond Ventefe, an investor from South Africa, is planning to inject $100 million into gold, coal, diamond and emerald mines in Zimbabwe. Ventefe is involved in fifteen gold mines in Kadoma.

Ventefe stated that his activity in Zimbabwe currently includes 15 small gold mines in Kadoma, and that he intends to invest R 2,250,000 in small mines. He believes that investing in the various mines could rejuvenate the Zimbabwe economy in a short period of time.

At the fifth annual Mining in Africa Conference, Zimbabwe Minister of Mines and Mining Development Obert Mpofu recently stated that Zimbabwe is open to foreign investments in the mining sector.