Zimbabwe to export coal to Japan and India with new deal
Zimbabwe government has agreed a deal with Dubai-based company, Victoria Consultant for coal export. This deal will enable the country to secure markets for coal exports in India and Japan.
Meanwhile, Victoria Consultant will assist Zimbabwe according to the deal. As both nations are the largest coal importing countries in the world. However, during the meet President Mnangagwa said Zimbabwe should take advantage of cordial relations with India to boost exports.
IMPORTANCE OF THE DEAL
The deal will grow the mining industry in Zimbabwe. According to Minister of Mines Winston Chitando, the agreement has three main things, namely linking the market and having linked the market as I said, we then have two constraints. He said the company would also mobilise working capital for local companies.
Victoria Consultant CEO, Vito Oliveira Sousa said “Our objective is to get the markets and export the coal that is what the Zimbabwe Government is expecting from us.”
Zimbabwe currently has an estimated 25 billion tonnes of coal reserves with mines between two and three million tonnes annually. However, Sousa said the amount of coal they would export was dependent on the country’s production capacity.