Bravura Sets the Record Straight: Rebuttal to Inaccurate Claims in Zimbabwean Mail

Key Points:

• African billionaire Benedict Peters’ mining company Bravura denies Zimbabwe plans to seize its concessions, calling the reports “unfounded” and “malicious.”
• Bravura says its key lithium project, Kamativi, faces normal challenges but is on schedule for 2024 production, with significant investments already made.
• Bravura refutes claims of project delays and is taking legal action against the Zimbabwean Mail for defamation.

Bravura Holdings, a leading mining company owned by pan-African billionaire Benedict Peters, has refuted claims in the Zimbabwean Mail suggesting the Zimbabwean government is considering repossessing its mining concessions.

Bravura clarifies that the Kamativi Lithium Tailings Project, launched in December 2021, is progressing steadily despite encountering regulatory hurdles and global economic challenges. The company cites completed exploration efforts, advanced civil works, and an anticipated production launch later in 2024.

Bravura emphasizes its significant financial investments and unwavering commitment to Zimbabwe’s development, dismissing the article as an unsubstantiated and malicious attempt to undermine its efforts. The company is pursuing legal action to address the defamatory claims.

Bravura Statement:

Our attention has been drawn to the publication in the online version of the 27 May 2024 edition of the Zimbabwean Mail titled, “Zimbabwe Considers Repossessing Nigerian Billionaire’s Mining Concessions Amid Financial Struggles.” The article unfoundedly suggests that Mr. Benedict Peters, the Executive Vice Chairman and CEO of our Group, Bravura, faces the potential loss of his mineral concessions in Zimbabwe due to stalled projects and financial difficulties. The article misguidedly claims that government sources have expressed concerns about the slow progress and stalling of these projects, considering repossessing them.

The accounts published are lopsided, incomplete, unsatisfactory, and inherently misleading. They distort the facts around the projects and present an inaccurate rendition of key issues, driven by a conflation of important considerations. We are compelled to refute these baseless suggestions. For the record, the aspersions in the article are malicious and fictitious. Given the serious implications of such misleading accounts, it is necessary to address these distortions publicly.

First, we clarify a number of key facts and developments with respect to the Kamativi project that the story appears to have made the subject of its patently absurd criticisms. The Kamativi Lithium Tailings Project agreement was signed in December 2021 between ROZ and Bravura. Despite typical and unusual regulatory and compliance challenges, critical exploration, topographical surveys, grid and ore sampling, and metallurgical and mineralogical test work have been undertaken and mostly completed. Heavy-duty equipment required for several aspects of the operation has been procured and is already in-country. Local civil works, including campsite construction following the relocation of local residents, are at advanced stages. Beneficiation plant construction required for the dump material and a high-capacity processing plant has reached an advanced stage. Base power supply deployment arrangements have been concluded, with generators already in the country. Production is expected to commence very soon, later in 2024.

All of this has been undertaken at enormous financial investment by us. This progress has been achieved despite considerable drawbacks in the global economy, in-country sector challenges, and, critically, the effect of the pandemic on the mining industry in the country. There has been valuable support from the Government of Zimbabwe, evident through visits by Ministry of Mines officials and engagements that have provided access to informative progress and status reports. This raises considerable questions about how the publication allegedly cites sources from within the government without the essential particularity upon which the accuracy of its assertions should be based.

It is crucial to highlight that metallic mines are notorious for their prolonged development periods, often taking several decades to transition from discovery to production. The fact that Bravura is poised to commence production this year, within just a few years of acquiring the project, underscores our unwavering commitment and seriousness in advancing this initiative.

The spurious article lacks factual content and informed analysis, failing to provide information, explanation, or clarification of its assertions. It seeks credibility by associating our name with a story to attract twisted legitimacy or interest. The article is a malicious concoction of untruths designed to embarrass and discredit Bravura, without foundation. It is a false representation, contrived by irresponsible journalism, intended to malign our reputation.

For the avoidance of doubt, any imputation in the article is a conjectured lie of the gravest dimension and is denied in every respect. The lack of specificity speaks to the assertions’ lack of credibility, making it difficult to respond to issues the authors clearly know little about. The author and publishers knew, or ought to have known, that none of these assertions is true or accurate. They made no effort to verify the accounts, despite our well-publicized contact details.

We reject any suggestion that the project is experiencing delays or that there is any consideration to review our mandate. Those spreading these accounts are doing so on an ill-conceived, speculative basis, destined to fail. The matters have now been referred to our lawyers, who will take all necessary steps to protect our interests and obtain remedies against those responsible for this defamatory campaign.

Bravura’s commitment to this project aligns with the objectives of His Excellency, President Emmerson Mnangagwa, whose mantra, “Nyika inovakwa nevene vayo,” promotes self-determination and debt-free development of Zimbabwe. Our commitment to realizing this project for the benefit of the stakeholders and the people of Zimbabwe, who own a 40% interest, remains undiluted and will not be deflected by such absurd imputations. Corresponding work continues on our other projects.

We urge the public, business partners, associates, and well-wishers to disregard any defamatory reports about Bravura, including those republished by other online media outlets using the Zimbabwean Mail as their source.