"We Need Close To US$3 Million To Capacitate All Our Joint Venture Gold Operations," - ZMDC
The Zimbabwe Mining Development Corporation (ZMDC) has said it needs close to US$3 million to capacitate all its gold operations dotted across the country it jointly owns with the small-scale miners.
This was revealed by ZMDC general manager Mr Blessed Chitambira during a recent field day tour of Bubi Gold Milling Centre in Matabeleland North province by the Ministers of Mines and Mining Development, and Finance and Economic Development, in that order, Winston Chitando and Professor Mthuli Ncube.
Chitambira said:
We need close to US$3 million to capacitate all our joint venture gold operations that we own together with the small-scale miners.
Out of the initial 10, we then partially capacitate five and this one (Breakfast Gold Mine) is one of them.
… we provided them with a compressor, and a generator; but still there is more that is required.
He speaks amid reports that Zimbabwe’s Landela Mining Venture, which is majority-owned by Kudakwashe Tagwirei, an adviser to President Emmerson Mnangagwa is slated to take over four idle state-owned gold mines after reaching agreements with the state.
Gold is one of the country’s biggest foreign currency earners and its prices are expected to explode due to fears of COVID-19 second wave.
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