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Kadoma mayor, Mr Peter Matambo, said the joint venture to be implemented later this year would create jobs and increase cash flows for the city.
“I can confirm we are in talks with a South African company whereby we will be mining gold as you know Kadoma is the home of the precious mineral,” he said, adding, “We have already identified the deposits.”
The partner, he said, was expected to inject about US$4 million to kickstart the project.
Mr Matambo said work towards implementation had begun.
“We have also engaged geologists to determine the volume of gold deposits,” he said.
Mr Matambo said the local authority would provide human resources and land.
“The council has no capacity to buy equipment hence we need a partner with financial capacity then we offer them land with mineral claim,” he said.
Apart from David Whitehead Limited textiles that has since resumed operations, the town had no other meaningful investment in the recent years
Late last year, a Chinese company, China Architectural and Industrial Glass Association expressed interest to the local council to resume the construction of a US$20 million glass manufacturing plant started in 2003, which had been abandoned years ago at the height of the inflationary environment in Zimbabwe.
Other companies already in Kadoma include Kadoma Paper Mills, Dairibord Zimbabwe Limited, David Whitehead Textiles, Zimbabwe Spinners and Weavers, Empress Nickel Refinery, Maranatha Ferrochrome and the immaculate Kadoma Hotel and Conference Centre. – New Ziana.
Online Reporter