Zimbabwe Mining Development Corporation seeks investors to revive mines


State owned miner, Zimbabwe Mining Development Corporation (ZMDC) is seeking partners to invest in two of its gold mines and a lithium concern among others.

The mines include Jena gold mine in Silobela, Elvington gold mine in Chegutu and the Sandawana Emerald-Tantalite-Lithium project in Mberengwa.

Sandawana mine is a high quality producer of emerald, it suspended production in 2011 due to loss of traditional markets.

Jena gold mine has been operating at a loss. It has a capacity to produce of 450 tonnes of ore per day and in 2013 the mine produced 309 kilograms of gold.

Elvington gold mine in Chegutu used to be ZMDC’s biggest gold producer, producing 45kg’s of gold per month. In ceased operations in 2003 .

“Interested parties are invited to express interest in partnering ZMDC in exploration, development, mining and processing of gold from one or both of these undercapitalised mines,” ZMDC said in a statement.

Other mining projects in need of investment include Lynx Graphite Mine in Karoi which is currently under care and maintenance and two special grants for Coal Bed Methane (CBM) in north-west Zimbabwe.

Four weeks ago the Ministry of Mines secretary Munesu Munodawafa told the Parliamentary Committee on Mines and Energy that they had secured $150 million facility to attend towards the ZMDC gold mines Sabi, Jena, Elvington and Graphite werk mine. –The Source



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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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