Online Reporter
Nelson Gahadza
Senior Business Reporter
MUTAPA Gold Resources has secured US$125 million to accelerate the expansion of its gold mining operations, which the Government has described as a major investment expected to increase national gold output and strengthen Zimbabwe’s foreign currency earnings.
Mines and Mining Development Minister Dr Polite Kambamura, speaking after a tour of the Freda Rebecca gold mine, said the Government was encouraged by the company’s ambitious expansion programme, which was a clear demonstration of Mutapa’s commitment to boosting production in line with the country’s economic development agenda.
“Mutapa has restructured into smaller business units for efficiency and increased productivity.
“The organisation is currently on an expansion drive to increase gold production from the current 300 to 310 kilogrammes per month to between 570 and 600 kilogrammes by the end of this year. The company has already secured funding for the expansion of its operations,” he said.
The expansion programme will see significant investments at several of Mutapa Gold Resources’ operations, including Shamva Mine, Freda Rebecca and Jena mines.
According to Dr Kambamura, production at Shamva Mine is projected to rise from the current 66 kilogrammes per month to about 200 kilogrammes.
