4 December 2018

Zimbabwe: Govt Says Investors Scrambling for Zim's Closed Mines

Photo: The Herald
(File photo).

Government has revealed that a number of investors have shown interest in re-opening some of the closed mines including Shabanie and Mashaba Mines previously owned by business mogul Mutumwa Mawere.

Posting on Twitter today, Ministry of Information,Publicity and Broadcasting said under the Transitional Stabilisation Programme (TSP), recently presented by Finance and Economic Development Minister Professor Mthuli Ncube, government is working on re-opening previously closed mines.

"A number of investors have shown interest in re-opening some of the closed mines, particularly in gold. Targeted mines for resuscitation in 2019 include Shabanie and Mashaba Mines Elvington Gold Mine Jena Gold Mine and other ZMDC mines.

"Under the # TSP government will re-open previously closed mines. Already, Eureka Gold Mine in Guruve, with the capacity to become the largest gold mine in the country, producing 200 kgs of gold monthly and a total of 2.5 tons per year, has been re-opened," they said.

Legislators from the Mines Parliamentary Portfolio Committee on Tuesday grilled the Zimbabwe Mining Development Corporation (ZMDC) over its dormant mines at a time the country is experiencing economic difficulties, partly due to failure to utilize its resources.

ZMDC owns 22 mines, some of them closed for over a decade.

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