aurora
Business Writer
Kuvimba Mining House (KMH) has paid an inaugural US$5.2 million dividend to Government and other local shareholders following a positive performance during the financial year ended 31 March 2021
Government, and various local investment vehicles such as Sovereign Wealth Fund of Zimbabwe, Public Service Pension Management Fund, Deposit Protection Corporation, Insurance and Pensions Commission, Datvest Nominees, and National Venture Capital Company of Zimbabwe owns Kuvimba Mining House Group.
Finance and Economic Development Minister Mthuli Ncube said the US$5.2 million will be distributed as follows:
Sovereign Wealth Fund of Zimbabwe – US$520,000.00; Public Service Pension Management Fund – US$560,000.00; Deposit Protection Corporation – US$400,000.00; Insurance and Pensions Commission – US$400 000; Datvest Nominees – US$ 1 million; National Venture Capital Company of Zimbabwe (Pvt) Ltd- US$600 000; and Government of Zimbabwe US$1.720 million.
Minister Ncube said since its inception, the company has seen the performance of the underlying mining assets improve significantly.
The company owns and manages three operating gold mines, three non-operating gold mines, various chrome operations, an operating nickel mine as well as an investment in a platinum project.
KMH’s portfolio includes;Freda Rebecca Gold Mine, Bindura Nickel Corporation, Shamva Gold Mine, Jena Mine, Elvington Mine, Sandawana, Homestake, Zim Alloys, and an investment in Great Dyke Investments (GDI).
The company employs nearly 4000 workers.
Bongani Ndlovu