Kuvimba Mining House To Acquire More EPOS
Kuvimba Mining House intends to acquire exclusive prospective orders (EPOs) in order to drive the search for other strategic minerals across mineral-rich Zimbabwe.
Already, Kuvimba, in which the Government is a significant shareholder, owns some of the country’s most valuable mining assets cutting across a range of minerals, including gold, platinum, chrome and nickel.
Kuvimba is 65 per cent held by the state and 35 per cent by Ziwa Resources Ltd which is believed to be Kuda Tagwirei’s Zimbabwean holding company.
Freda Rebecca Mine (Kuvimba subsidiary) managing director Eliakem Hove, said the operations at the Club and Tiger gold mine in Kwekwe were still at the exploration stage while operations had begun at the Jena Mine. Said Mr Hove:
We have Club and Tiger in Kwekwe where we are still at the exploration stage gathering information. Jena has actually added a name they are running their operations as we speak.
…at the group level that’s where we are looking throughout the country to getting some EPOs in strategic minerals and revive other idle mines.
Meanwhile, Freda Rebeca produced a record 300 kilogrammes monthly in June this year and has set itself a target to maintain a monthly output of 280kg going forward.
Kuvimba’s largest gold operation, Shamva Gold Mine, targets to produce up to 400kg per month after having attained 48 000 tonnes of gold ore in July above a set target of 30 000.
Previously, Kuvimba had indicated intentions to revamp a number of idle gold mining operations across the country, which it said was key to enhance the nation’s export earnings.
The Government of Zimbabwe launched the US$12 Billion mining industry by 2023 in October 2019, as part of the broader macroeconomic initiatives.
The US$12 billion mining industry by 2023 could represent a 344 per cent growth from the US$2.7 billion registered in 2017.
More: The Herald
