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Billionaire Watch

Nigerian billionaire, Benedict Peters Plans to mine Platinium in Zimbabwe

Nigerian billionaire Benedict Peters has made plans to develop a platinum mine in Zimbabwe with at least a billion dollars.

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Nigerian billionaire, Benedict Peters Plans to mine Platinium in Zimbabwe

Bravura Holdings Ltd – owned by Nigerian billionaire, Benedict Peters, has made plans to dig a platinum mine in Zimbabwe with at least a billion dollars, in a report credited to Bloomberg News.

The Platinium mine is located in Selous, not too far from the south of Zimbabwe’s capital – Harare, and close to present platinum mines. It comprises a 3,000 hectare (7,413-acre) concession.

“From where we are now, we will go to resource definition, after that we will go to resource modeling, after mine development and then mine construction,” Lionel Mhlanga, Bravura’s manager in the southern African country, said in an interview at the mine on November 6. “Those are all things that should happen in the next 18 months.”

READ: Ethereum robber transfers $1.5 million worth of Crypto

What you should know

At the time of writing this report, the precious metal was trading at $889. The silver whitish metal is used in making jewelry and electronics. Platinum like gold is traded as a commodity on various commodity exchanges globally.

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(READ MORE: We were granted approval to export some cement to Niger Republic – BUA)

Bravura is one of the few on lists of less popular firms that have confirmed platinum concessions in the South African country, as the present administration seeks to jumpstart its stunted economy.

READ: Shell to focus on Nigeria, Gulf of Mexico and others as it seeks to cut 40% of costs

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Established platinum miners are yet to announce plans to expand their operations. While Zimbabwe has the world’s third-largest platinum group metal reserves, investors have been deterred by frequent changes to mining laws and currency policies.

The Nigerian billionaire is also the owner of Aiteo Eastern E&P Company Limited that manages integrated energy companies. The Company focuses on refining, supply, and marketing of petroleum products, exploration, production, bulk storage, as well as offers power generation and distribution services.

READ: Airtel Africa to sell its 4,500 tower assets to cut down $3.5 billion debts

Bottom Line

The deal is coming as a surprise to many, as the oil magnate has little exposure and experience in mining, yet it plans to mine rare earth minerals and tin in Zimbabwe.

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Stanbic IBTC

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

2 Comments

2 Comments

  1. Abi

    November 12, 2020 at 3:54 pm

    Hi,

    Bonjour.

    I’m a Nigeria based in the UK.

    I would like more information on investment options.

    Regards
    Abi

    • Ronnie Maurice

      November 12, 2020 at 6:51 pm

      I think the bio info on Olumide Adesina should have read French born Nigerian.

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Billionaire Watch

Elon Musk surpasses Bill Gates’ wealth, now worth $128 billion

Elon Musk has just hit a new apex by surpassing Bill Gates to become the world’s second-richest person.

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Elon Musk surpasses Bill Gates' wealth, now worth $128 billion

The founder of the most sought automaker company Elon Musk has just hit a new apex by surpassing Microsoft, founder, Bill Gates to become the world’s second-richest person.

Data retrieved from the Bloomberg billionaire index shows the 49-year-old whiz entrepreneur net worth is now pegged at $128 billion, driven by yet another surge in Tesla’s share price.

Musk has gained $100.3 billion to his net worth just in 2020, the most by anyone in the Bloomberg Billionaires Index – a ranking of the world’s 500 richest people.

What you must know: Musk is the CEO of Tesla, a maker of electric vehicles. The California-based company sells electric vehicles. He’s also CEO of Space Exploration Technologies, a rocket manufacturer tapped by NASA to resupply the space station

His wealth gain is largely attributed to Tesla, the electric car automaker, which has gained 500% in 2020 and has become by far the world’s most valuable automaker in the world, despite it producing far less than Volkswagen, Toyota, or General Motors.

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About a fifth of the car company’s shares is owned by its Chief Executive, Elon Musk, and other insiders.

Recall Nairametrics, some months ago highlighted major reasons why Nairametrics believed the stock was a strong buy and could surpass the present most valuable listed technology company.

  • Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker, and more fun to drive than gasoline cars.
  • Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
  • Tesla remains the only major carmaker to have a huge physical presence in the world’s second-largest economy. With the electric-car maker’s launch of a new factory in China in 2019 and, the beginning of its Model Y models earlier this year, investors may want to continue holding.

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Billionaire Watch

Billionaires that can triple the value of Bitcoin

Michael Saylor has disclosed billionaires who could turn the price of Bitcoin up, at least three folds.

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Billionaires that can triple the value of Bitcoin

The Founder and Chief Executive officer of the popularly traded business intelligence firm, Michael Saylor, recently disclosed billionaires, who could turn the price of Bitcoin up at least three folds. His bias was based on the aurora these billionaires bring notably in the global financial world.

In his most recent Youtube interview, he started his narrative by explaining deeply the effect such billionaires would have on the flagship crypto market,

READ: Germany’s biggest bank says more people now prefer Bitcoin over gold

“It’s important that 100 million people embrace Bitcoin but there are 10 people that can triple the price of Bitcoin. This is not like Facebook, nobody ever brought a billion friends to Facebook. This is like when a person with $10 billion decides that they want to adopt this network and they put $2 or $3 billion on the network, that’s going to be more monetary energy that flowed into the network than the first 10 million people put into the network. It’s ten million to one gain.”

He went on by revealing the names of such billionaires, amid their stronghold seen on global finance.

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READ: Most profitable asset in a decade, Bitcoin up over 26,600,000%

“Here’s the other thing. When a person with $10 billion puts $10 billion on the network, they’ve got a friend with $10 billion. Warren Buffett (Berkshire Hathaway CEO) plays bridge with Bill Gates (Microsoft founder) and then they talk with Mark Zuckerberg (Facebook CEO and founder).

“So when this hits that social network, it’s like a billion to two billion to four billion to eight billion and those four decisions, those four blocks have more impact on the network than the first 10 million blocks.”

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READ: Crypto; Tron’s founder offers $1 million bounty in finding BTC Twitter hackers

What you should know

Sequel to these macro, Nairametrics some days ago revealed key insights coming from DeVere Group discovering that 73% of poll participants (millionaires) are now already invested or are preparing to invest in digital assets, such as Ethereum, Bitcoin, and XRP, before the end of 2022, showing a significant amount of interest by the world’s top earners.

READ: Apple market capitalization nears $2 trillion, as Apple’s CEO becomes a billionaire

  • The findings come as the price of Bitcoin rallied close to $18,000, almost close to the $19,763 all-time record reached in December 2017.
  • Most of the high net worth individuals polled by the financial firm got triggered into planning to buy cryptos by the latest institutional buying.
  • Those classified as millionaires in the study include ‘High Net Worth’ having more than £1m (or equivalent) in investable assets.

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Billionaire Watch

Many millionaires plan to buy Crypto before 2022

DeVere Group, a financial consulting firm discovered that 73% of poll participants are now already invested or are preparing to invest in digital assets.

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IMF calls crypto "special currency" and educates the public, Crypto: Why investors are rushing to DeFi assets, total market capitalization of cryptocurrencies, Crypto, Whales move 100,000,000 Tether, USDT in less than 24 hours

As Bitcoin hits the flagship crypto trade slightly below $18,000, a significant number of millionaires have disclosed they will invest in cryptos before the end of 2022.

DeVere Group, one of the world’s most notable independent financial advisory firms, discovered that 73% of poll participants are now already invested or are preparing to invest in digital assets, such as Ethereum, Bitcoin, and XRP, before the end of 2022.

READ: Dangote Group’s $2 billion fertilizer plant to start operations in December 2020

  • The findings come as the price of Bitcoin rallied close to $18,000, almost close to the $19,763 all-time record reached in December 2017.
  • The methodology for such research used include, interviewing over 700 of its clients who are presently based in Asia, Africa, the Middle East, United States, United Kingdom, East Asia, Latin America, Australasia.
  • Those classified as millionaires in the study include ‘High net worth’ having more than £1m (or equivalent) in investable assets.

READ: Afreximbank posts $217m net income in 9M 2020

What this means

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DeVere Group CEO and founder, Nigel Green, explained why the world’s millionaires are attracted to financial assets as cryptos.

READ: Jeff Bezos becomes first person to cross $200 billion net worth, as Zuckerberg crosses $100 billion

“As the survey shows, this impressive performance is drawing the attention of wealthy investors who increasingly understand that digital currencies are the future of money and they don’t want to be left in the past,” he said.

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Most of the high net worth individuals polled by the financial firm got triggered into planning to buy cryptos by the latest institutional buying.

READ: Bitcoin on high demand, hits 2-year high, trading $17,000

“No doubt that many of these HNWs, who were polled, have seen that a major driver of the price surge is the growing interest being expressed by institutional investors, who are capitalizing on the high returns that the digital asset class is currently offering,” Green added.

Explore Data on the Nairametrics Research Website

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