SAfrican mining giant eyes Zimbabwe's mining sector

ARM chairman Patrice Motsepe is one of South Africa’s richest people and is on American magazine, Forbes' billionaire list. He is SA's first black billionaire.

Sources said on Monday Motsepe had started laying the foundation for the breakthrough into Zimbabwe and has been in the country on a private visit where he met President Robert Mugabe.

ARM Business Development Executive for Africa, Dan Simelane has confirmed that they were eyeing investments in Zimbabwe.

“Our company African Rainbow Minerals is exploring mining investment opportunities in Coal and Platinum Group Metals in Zimbabwe,” Simelane said.

“As you are aware any mining investment is both capital intensive and long term in respect to time frame and as such we are not able to give you the quantum of investment and the time frame. At the appropriate time a decision will be taken by our company as to which vehicle we will be using and cannot determine at this stage as to how many employment opportunities will be created,” Simelane said.

Motsepe holds various influential positions in South Africa including the deputy chairman of Ubuntu-Botho, and chairman of Harmony Gold.

In 2004, Motsepe led a broad-based black empowerment consortium to buy 10 percent shareholding in Sanlam in what was to become one of the most far-reaching black empowerment transactions in South Africa.

In the Ubuntu-Botho deal he managed to bring together various stakeholders that would empower small businesses at even the most rural level through access to capital, business expertise, and helping them grow their businesses through a network of cross-selling opportunities.

The success of the venture has been remarkable, media reports in South Africa have indicated.

While the Ubuntu-Botho deal has contributed to the significant increase in Sanlam's share price, this far-sighted venture has helped Sanlam fast track its transformation into a truly representative South African company.

At the Annual General Meeting of the South African Institute of Mining and Metallurgy (SAIMM) in 2005 Motsepe, who was chairman of African Rainbow Minerals (ARM) was awarded the Brigadier Stokes Memorial Award.

The award, which comprises a medallion of platinum, is presented to individuals who demonstrate achievements in and commitment to the South African Mining and Metallurgical industry.

The 2005 award recognised Motsepe's substantial contribution to the South African minerals industry over the years as well as his leadership role within South African society.