September 21, 2017

Zimbabwe plans to revive three of its gold mines

gold-mines

The Zimbabwe Mining Development Corporation (ZMDC) plans to use a phased recovery approach to revive three of its gold mines put under care and maintenance due to under capitalization.

ZMDC acting general manager Mr. Nelson Chinzou confirmed the reports and said that plans to revive the mines have been put into phases, and the board is currently engaged in negotiations with investors who expressed interest in investing in one of the mines.

They plan to invest US$ 3m at Sabi Gold Mine for the reprocessing of gold dumps or sands containing an estimated US$ 3.6m value of gold at grades of about 0.65 grammes per tonne. They are also looking at introducing short, medium and long-term phases to improve efficiencies and ramp up production at the mines.

ZMDC entirely owns Sabi and Elvington gold mines, which are currently dormant and maintaining project status, while Jena Mine has been the only one operating but at a loss.

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.