adminFungai Lupande Mash Central Bureau
RAN Mine (Private) Limited in Bindura has resuscitated its operations following a $20 million injection by a Malaysian investor.
This follows the dismissal of a High Court interdict pending litigation by Women in Mining Organisation, who were claiming ownership of two mining blocks at the mine.
Ran Mine director Mr Johannes Makurumidze said the Malaysian company, Rainbow Century, came on board to invest in the mining venture after heeding the call for investment by President Mnangagwa.
“Ran Mine has a complex metallurgy and needs a significant investment and technology to be able to extract the gold,” he said. “We will employ about 700 people in the construction phase.
“The mine will have a 15 to 20 years lifespan and we will be producing 40 000 tonnes of ore per month. We are expecting to produce 60 to 70 kilogrammes of gold per month. $10 million was set aside for the construction and commissioning of the mine which will take eight or 12 months.
“Production at the mine stalled between 2009 and 2015 when we were embroiled in a legal battle with Blackgate on the issue of over-pegging. We won the case in court. Recently, we were involved in a legal battle with Women in Mining, who were claiming some mining blocks.
“We went to the Ministry of Mines and Mining Development and they arranged for a meeting between us and members of the Women in Mining, but they did not turn up. It was determined that the mine belongs to us. They later filed an urgent chamber application at the High Court, which was dismissed.”
Mr Makurumidze said they had engaged the police to assist in removing illegal miners at the mine.
Online Reporter