Caledonia Mining is evaluating a range of alternatives to secure the $250 million in capital required to support the development of the Bilboes gold mine, which is situated 75 kilometres north of Bulawayo in Zimbabwe.
Only a small amount of open-pit mining was carried out on the high-grade gold deposit at Bilboes, according to Reuters.
Based on the feasibility assessment conducted by the sellers of the mine, it is anticipated that the project will yield 168,000 ounces of gold annually for 10 years.
The project is intended to be developed by Caledonia into what might become the largest gold mine in Zimbabwe.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
