By Staff Reporter
President Emmerson Mnangagwa has officially launched the Palm River Energy Metallurgical Special Economic Zone, a multi-billion-dollar project set to drive Zimbabwe’s industrialization and economic growth.
The project, spearheaded by Xintai Resources (Pvt) Ltd under Xinganglian (Shanxi) Holding Group Co. Ltd, is valued at US$3.6 billion and integrates energy and metallurgy, positioning Zimbabwe as a key player in the global mining and energy sectors.
Speaking at the launch, President Mnangagwa hailed the initiative as a major step toward economic transformation and emphasized the importance of public-private partnerships.
"This project is a testament to the many successful partnerships between Government and the private sector, as we work together to ensure the development of our country,” Mnangagwa said.
He also highlighted that the project aligns with Zimbabwe’s Engagement and Re-engagement Policy, which has played a crucial role in attracting investors.
"The progress we are witnessing here is a direct result of my Government’s Engagement and Reengagement Policy, which has increased confidence in Zimbabwe as an attractive investment destination. More companies from our strategic friends and partners, particularly the People’s Republic of China, and indeed from across the world, are welcome to invest in our country," he said.
The Palm River Energy Metallurgical Special Economic Zone is expected to have a significant impact on Zimbabwe’s economy by fostering industrial growth and creating employment opportunities.
“As you are aware, the mining sector plays a crucial role in fostering economic development. It is a major creator of both direct and indirect employment opportunities, significantly benefiting local communities. Through investments by industry players, mining operations can improve infrastructure such as roads, schools, and healthcare facilities,” Mnangagwa noted.
The project will produce 2 million tons of chromium-based materials and 1 million tons of coke annually. A 100MW thermal power plant has been commissioned, with 50MW expected to be operational by March. Additionally, a coal wash plant and a chrome smelting plant have already been completed. Future plans include the development of a 1,200MW green power generation plant.
President Mnangagwa also urged mining companies to prioritize community engagement and environmental sustainability.
“For mining houses to attain the social license to operate, they must actively manage and mitigate the social and environmental impacts of their operations on local communities and the environment,” he said.
He commended Zimbabwe Xintai Resources for its corporate social responsibility initiatives, which include drilling boreholes, job training, and student attachments. He called for the acceleration of plans to establish a clinic and a recreational park to benefit local communities.
The President praised the partnership between Shanxi Engineering Vocational College and Harare Polytechnic, which will provide scholarships for Zimbabwean students to study metallurgy, mechanical engineering, and electrical engineering in China.
“Under this program, there is scope for the establishment of a Metallurgical Centre of Excellence, focusing on value addition and beneficiation,” he added.
Reaffirming the Government’s commitment to fostering a conducive investment environment, Mnangagwa emphasized the need for mineral value addition and industrialization. He further urged all stakeholders to work together to ensure the project’s success.
“We are dedicated to prioritizing investments in exploration, value addition, and beneficiation to drive industry development and economic growth. Let us work hand in hand to ensure that the Palm River Energy Metallurgical Special Economic Zone not only succeeds but exceeds expectations.”
This project marks another milestone in Zimbabwe’s journey toward becoming an industrialized and globally competitive economy.
