Russia set to launch Zimbabwe's biggest platinum mine

Russia is set to launch what could become Zimbabwe's biggest platinum mine when Russian Foreign Minister Sergey Lavrov visits the country next week to sign the deal.

Lavrov, who will be leading a high-powered business delegation, will be in Zimbabwe from Sep 15 to 17, Xinhua quoted the state media as saying Friday.

"He will pay a courtesy call on President Mugabe and participate in the commissioning of the Darwendale Integrated Platinum Group Metals Project on Tuesday," the report said.

According to media reports, the project holds an estimated worth of 3 billion dollars.

It is said the platinum project will have the capacity to produce 600,000 ounces of platinum annually, much more than what the current biggest miner -- Zimplats -- is producing.

Zimplats, which was forced to close its biggest 2 million tonnes of ore per annum mine last month after collapsing, produced 240,000 ounces in its full year till June 2014.

Russia has in recent years increased its mining interests in Zimbabwe where it is already exploiting gold and diamonds in the eastern Marange diamond fields.