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14 october 2024

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Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

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Zim ruling party threatens gold-rich Redwing Mine

14 february 2022
Zimbabwe’s ruling Zanu PF party has threatened to take over the operations at the gold-rich Redwing Mine in Penhalonga alleging that it is being mismanaged, according to the local media.
Party secretary for finance Patrick Chinamasa was quoted by the Zimbabwe Mail as saying that the ownership of the mine would be handed over to artisanal miners aligned to Zanu PF.
“It is not our problem as a government about what is happening at the mine, but it is the problem of the investor,” he said.
“When I am back in Harare, I am going to approach President Emmerson Mnangagwa and the Ministry of Finance so that we can buy and take over the mine by the end of the year.
“The government will then engage illegal miners because we want orderly mining here in Penhalonga.”
The mine’s employees recently demonstrated against plans by the judicial management to reinstate Betterbrands Mining Company (BMC) under unclear circumstances.
The workers preferred Metallon Gold ahead of BMC.
Meanwhile, the Centre for Research and Development director James Mupfumi has accused Chinamasa of showboating.
“How do you say the government wants to take over when it is the same government which is allowing gold barons to invade the same Redwing Mine?” he asked.
“We want Parliament to summon Redwing and investigate the issue of gold leakages because the companies which have been operating there are behind the leakages, it has been since 2018 whereby dubious companies have been operating at the Redwing Mine.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished