While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach.
The government says mining commitments have reached as much as $6bn since Mnangagwa’s appointment, including a record $4.2bn pledge from a company linked to mining entrepreneur Loucas Pouroulis for a platinum mine and associated infrastructure.
President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining investment that shrivelled under his predecessor, Robert Mugabe.
So far, Mnangagwa has pledged investor-friendly policy changes and partially rolled back a law requiring mining companies to be locally owned.
It seems to be working, at least in some quarters.