Chronicle Editor
Oliver Kazunga, Senior Business Reporter
ZIMBABWE’S largest gold miner, Metallon Corporation has embarked on a restructuring exercise of its business as part of a strategy to increase efficiencies and meet growth targets.
In a statement, the mining concern announced that part of the restructuring exercise would result in unbundling of Metallon’s four operating mines as separate entities.
The company runs four mines — How Mine, Mazowe, Redwing and Shamva.
“Each of these mines is now operating under separately registered companies, namely Bulawayo Mining Company, Goldfields of Mazowe, King’s Daughter Mining Company and Goldfields of Shamva, respectively,” said the miner.
By making the mines standalone operations, Metallon hopes to increase efficiency and allow each mine to manage its own assets and operations more effectively.
The restructuring exercise also means that the companies will now have their own boards and management to assume all responsibilities over operations and suppliers. This was expected to reduce bureaucracy and bringing renewed focus across the group.
New managing directors have already been appointed to run the operations. The group’s chief executive officer Mr Ken Mekani commented:
“As the country’s leading gold producer, Metallon has a duty to invest in production and help meet national gold output targets.
“Metallon has an ambitious plan to increase gold production. As part of that plan, we had a thorough evaluation of our structure and operations.
“One of our key findings was that in order for us to efficiently exploit our assets in the future, we require each mine to focus clearly on managing their own operations.”
He said reorganising the group would allow each operation to manage and exploit the vast potential of our assets more efficiently.
“By empowering each mine, we are making the company stronger as a whole,” said Mr Mekani.
The reorganisation is a continuing exercise and stakeholders will be updated on material developments as necessary.
Online Reporter