Online Reporter
Business Reporter
REDWING has applied to the High Court for voluntary corporate rescue, triggering formal legal proceedings for the gold producer to undergo business rescue in terms of the Insolvency Act.
“Notice is hereby given to the shareholders, employees, creditors and any affected person of Redwing Mining Company that a court application for the placement of the company under corporate rescue was filed with the High Court,” Redwing, through its legal counsel, said in a statement.
“It therefore follows that corporate rescue proceedings have commenced in terms of the Insolvency Act.”
Redwing Mine has operated in Zimbabwe for over a century, including previous operational periods under Lonrho Zimbabwe and Metallon Gold.
Namib Minerals acquired the mining asset in 2025 to establish modern environmental, social and governance practices along with operational discipline to support long-term production.
Underground dewatering activities officially began in January 2026 and are scheduled for completion by late 2026.
A definitive feasibility study will follow the dewatering process, based on physical underground access, condition assessments, and preliminary engineering work.
The mine contains an estimated 1,19 million ounces of gold at 3,83 grammes per tonne in Measured and Indicated Mineral Resources across 9,65 million tonnes.
Its Indicated Mineral Resource category accounts for 1,33 million ounces of gold at 2,61 grammes per tonne across 15,83 million tonnes.
Additional inferred gold resource estimates for Redwing have also been quantified.
Redwing Mine has faced years of operational disruptions characterised by widespread illegal and informal artisanal mining.
The unorganised surface mining led to severe environmental degradation, open shafts, dangerous working conditions and multiple fatal underground collapses.
Regulatory authorities, including the Environmental Management Agency (EMA), previously issued operations suspension orders against tributary entities following human casualties and unregulated gold panning on the concession.
