Zimbabwe State Miner Seeks $150M to Boost Gold Output
Zimbabwe’s largest gold producer, Kuvimba Mining House, is negotiating with potential partners for a $150 million investment to increase production at its Shamva mine by 50%.
Kuvimba Mining House, which is 65% state-owned, has already completed a feasibility study for a large-scale mine and processing plant, according to acting Chief Executive Officer Trevor Barnard.
“We are discussing that with potential partners to go forward,” Barnard said during a press briefing in Harare on Monday. “This is a resource which is really significant, it’s large, it’s high quality.”
Zimbabwe acquired Shamva from Metallon Gold in 2020 as part of its initiative to secure mining assets within the country. Kuvimba has also implemented a system developed by Comstack to track gold output, enhancing the traceability from mine to market.
“It enhances our gold traceability system from the mine to the market,” Barnard explained. “It is important we have regulatory compliance, not only within Zimbabwe but also internationally.”
