Kuvimba Mining House, Zimbabwe's largest gold producer, is in the process of negotiating with potential partners to secure a $150 million investment that will increase production at its Shamva mine by 50%.
The state owns 65% of the company, which has already conducted a feasibility assessment for a large-scale mine and processing plant, Bloomberg quoted the interim chief executive officer Trevor Barnard as saying.
“We are discussing that with potential partners to go forward,” he told reporters in the capital, Harare on Monday.
“This is a resource which is really significant, it’s large, [and] it’s high quality.”
In an effort to acquire mining assets within the nation, Zimbabwe acquired Shamva from Metallon Gold in 2020.
Barnard said that Kuvimba has implemented a system to monitor gold output, which was built by Comstack.
“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.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
