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Anglo American to invest 400 million dollars in Zimbabwe: report



Anglo American to invest 400 million dollars in Zimbabwe: report

LONDON (AFP) — Global mining giant Anglo American is planning to invest 400 million dollars (257 million euros) into a platinum mine in Zimbabwe, The Times reported Wednesday.

The mine at Unki, central Zimbabwe, is set to be operational by 2010, the newspaper said, citing a spokesman for the Anglo-South African company.

“We are developing the Unki platinum project because we have responsibility to our employees, contractors and the local community,” the Anglo American spokesman was quoted as saying.

“We are keeping the situation in Zimbabwe under close watch.”

A spokesman for the company did not immediately comment on the contents of the report when contacted by AFP, and a British foreign ministry spokesman declined to comment.

Several British companies have operations in Zimbabwe, but many of them have pledged not to expand — The Times said British American Tobacco and Barclays Bank would not add investment, while energy giants BP and Shell were “reviewing their presence in the country” according to the report.

Anglo American said in February that its 2007 net profit jumped 18 percent to 7.3 billion dollars, boosted by high output and soaring metals prices.

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