Zim aims to revive copper mining as global prices soar

Business Writer
Zimbabwe is planning to revive copper mining in the country and the Zimbabwe Mining Development Corporation (ZMDC) has since requested for expression of interest from potential investors.

Zimbabwe’s last operational copper mine, Mhangura, was closed in 2000, owing to low international copper prices at the time.

But amid a significant rise in copper prices in 2021, ZMDC is probably looking at capitalising on the opportunity to boost mining revenue.

In a joint expression of interest request with the Zimbabwe Investment and Development Agency (ZIDA), ZMDC said it is looking for “reputable, well-established companies for joint venture project in the exploration of copper and any other valuable minerals” at Shackleton Copper Mine.

Shackleton Copper Mine is wholly owned by ZMDC and is located in Chinhoyi.

The tenements to be explored are located within the Shackleton Mine Mashonaland West Province in Zimbabwe.

“ZMDC would like to engage a reputable company to perform aeromagnetic survey, drilling, exploration and resource confirmation to produce SAMREC compliance and Competent person report of Shackleton Mine tenements.”

ZMDC is also looking for “reputable, well-established companies for joint venture projects in copper and lead mining processing”.

The copper mining and processing project is for Sanyati Mine.

According to a previous publication by Business Weekly, the Sanyati copper project is situated southwest of Chinhoyi and needs recapitalisation and funding for exploration and development.

“The Sanyati Copper Mining Project has a special grant measuring 25 100 hectares with total Ore reserves: Proven and Probable — 14,4 million tonnes at 2,88 percent, copper and Indicated reserves — 3,52 million tonnes at 3,5 percent copper.

“The project needs recapitalisation, exploration and development. The required US$200 million will go towards extensive exploration programme and operationalisation of the three copper mines,” read part of the document seen by Business Weekly.

In terms of lead mining and processing, ZMDC is looking for a joint venture partner for Elbas Mine in Kamativi.

In mid-June Mines and Mining Development Minister Winston Chitando said that ZMDC, has been seeking some US$500 million to revive the country’s three copper mines and restart output.