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State owned mining vehicle, the Zimbabwe Mining Development Corporation has started looking for companies to carry out a feasibility study for its gold mining venture, Golden Kopje Mine. In a statement yesterday, ZMDC said the feasibility study will come up with a business plan and a work schedule as part of efforts to resuscitate the mine.“Tenders are invited from companies to do a feasibility study for the re-opening of Golden Kopje Mine. This study will come up with a business plan and a work schedule. The following should be included in the report: Detailed business plan, A review of the ore reserves and resources to a recognised international standard, A proposed mine re-opening options, mine plan and work schedule, Evaluation of existing assets, Cost estimates and exploration proposal,” said the mining group in a statement.
Golden Kopje is currently implementing its long term growth strategy and the recently re-constituted Golden Kopje board, which includes representatives of the Indigenous Zimbabwean shareholders, approved a capital investment programme for 2013 and a four year growth strategy for 2014 to 2017.
This investment programme, which was endorsed by the Golden Kopje Board, is estimated at $37 million and will be funded from Golden Kopje’s internally generated cash, and is expected to result in progressive increases in gold production to approximately 76 000 ounces.
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