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TWP to establish Zimbabwe business

Miningmx reporter | Fri, 29 Jan 2010 17:50
[miningmx.com] -- TWP Holdings, the mining engineering firm that has been merged with Basil Read, said it would set up a permanent presence in Zimbabwe as well as the United Arab Emirates.

In merging with Basil Read, Nigel Townshend, CEO of TWP Holdings, said the idea was to broaden its international footprint by using the vertically integrated service of the larger group.

Although reporting to Basil Read's board, TWP would continue to trade under its own name offering specialised mining services to clients. Townshend would continue to drive TWP but would also take a seat on Basil Read's board.

In addition to establishing a permanent presence in Zimbabwe, TWP said it would start construction of its own gold plant at ACR's property near Harare, in Zimbabwe.

The move to Zimbabwe reflects growing acceptance among the mining industry to view the country as an attractive investment destination.

DRDGold has earmarked possible gold investments in Zimbabwe while Impala Platinum and the Industrial Development Corporation have also spoken to further development of mining there.


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