Shamva Gold Mine targeting production of 400kg per month by 2023

President Emmerson Mnangagwa on Friday officially reopened Shamva Gold Mine and was briefed on the mine’s target of 400kg of gold per annum before unveiling a plaque to signal the mine’s reopening.

Speaking at the event, President Mnangagwa said the reopening of Shamva Gold mine followed resumption of operations after the formation of Kuvimba Mining House which has a 65 percent shareholding by Government.

“Ndinofara kuona vanhu vese ava vanga vasisina mabasa kuti vava nebasa ravo (I am happy to see all these people who were without jobs, now employed),” he said.

“It means every month, millions of dollars come to Shamva through salaries which is good for business as well as the development of the area.”

Shamva mine which resumed operations in April this year is expected to start producing 400 kilograms of gold per month by 2023 in a move described as key to the envisioned USD12 billion mining industry.

The mine has resuscitated 800 jobs and has since broken a 15-year production record by churning out 31 tonnes of ore as of October this year, following a capital injection of USD 7.8 million by Landela Investments.

President Mnangagwa added that exploration is in progress to ramp up production from the current underground operations through an additional open-pit mine.

“USD 180 million investment has been made so far to bring back the mine, with USD 1.3 million having been spent on the exploration programme alone.”

Speaking at the same event, Vice President General (Retired) Dr Constantino Chiwenga said the reopening of the mine shows the journey that the Second Republic is embarking on.

“Gold subsector is expected to contribute a lot towards economic growth. The resuscitation of Shamva Gold mine gives me confidence that we are on track as a nation in attaining USD12 billion mining sector.

“It is pleasing that the mine has surpassed its monthly target despite the challenges of covid 19 which have affected the global economy. Today’s event is a building block towards the attainment of vision 2030,” said the Vice President.

Seventy-seven retrenched workers have also been recalled to work and the mineral ore is being processed at Freda Rebecca Mine in Bindura until exploration is complete.

The mine is key to the target of a USD 12-billion-dollar mining industry by 2023.

The projected capital injection of USD 180 million capital injection will make Shamva the biggest mine in Zimbabwe.

The post Shamva Gold Mine targeting production of 400kg per month by 2023 appeared first on ZBC NEWS.

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