https://www.miningweekly.com

Zimbabwe State miner seeks $150m to boost gold output

Gold bars

Photo by Bloomberg

15th July 2024

By: Bloomberg

  

Font size: - +

Zimbabwe’s largest gold producer is negotiating with potential partners for a $150-million investment to boost production at its Shamva mine by 50%.

Kuvimba Mining House, 65% owned by the State, has already undertaken feasibility study for a large-scale mine and processing plant, according to acting Chief Executive Officer Trevor Barnard.

“We are discussing that with potential partners to go forward,” Barnard told reporters in the capital, Harare on Monday. “This is a resource which is really significant, it’s large, it’s high quality.”

Zimbabwe bought Shamva from Metallon Gold in 2020 as part of push to acquire mining assets in the country. Kuvimba has also rolled out a system, developed by Comstack, to track gold output, the CEO said.

“It enhances our gold traceability system from the mine to the market,” he said. “It is important we have regulatory compliance, not only within Zimbabwe but also internationally.”
 

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.051 0.792s - 128pq - 2rq
Subscribe Now