Media Release
Mangalore, Mar 23: Chief executive officer of Panama Group, Vivek Raj, had an exclusive face to face meeting with deputy prime minister of Zimbabwe, Prof Arthur Mutambara at Sheraton hotel, Bangalore.
Panama Group is a diversified trading company which had been invited privately by deputy prime minister to develop coal and iron ore mine blocks existing in Zimbabwe.
This opportunity could give a big boost to the company for its expansion plans and to have a stand in importing and marketing coal to India.
Currently, India is running short of 855 million tons of shortage in coal and making the most of this opportunity, Panama plans to have a good share of coal market by supplying to major steel and power plants in the country. Currently Zimbabwe has the worlds 90% reserve of platinum, 80% of untapped gold and very high coal and iron ore deposits.