Namib Minerals will resume operations at its mothballed Redwing gold mine in Zimbabwe in February 2026, the company’s chief executive announced on Friday, as part of a broader $300 million investment plan in the country.
Redwing holds an estimated 2.5 million ounces of gold, the largest resource in the company’s Zimbabwean portfolio, which also includes the producing How Mine.
“Following the completion of technical studies, development work and infrastructure rehabilitation, we are targeting annual gold production of approximately 300,000 ounces from Redwing alone,” Namib Minerals chief executive Ibrahima Sory Tall was quoted as saying by Reuters.
The company also plans to launch an exploration program aimed at doubling Redwing’s resource base to about 5 million ounces over the longer term.
Namib Minerals owns three gold mines in Zimbabwe, including the Mazowe mine, which produced 1.36 million ounces between 1962 and 2018 before being placed on care and maintenance.
The restart comes as Zimbabwe’s gold sector shows signs of renewed investment, partly driven by high bullion prices.
The government recently reversed a proposal to double the gold royalty rate to 10%, maintaining a 5% rate unless prices exceed $5,000 per ounce.
This decision followed protests from miners, including large-scale producer Caledonia Mining, which had warned that higher royalties would hurt profitability and delay expansion projects.
Caledonia welcomed the royalty revision and the government’s decision not to change the tax treatment of capital expenditure, signalling support for the mining sector.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
