Zimbabwe: Gold Miner Radnor Invests U.S.$3,5m

22 November 2021

Radnor Mine ZimCN, a gold mine in Mutoko's Makaha area, Mashonaland East Province, has invested US$3,5 million in mining equipment (dump trucks) in an effort to boost production.

The investment went towards acquisition of 10 modern mine dump trucks, which arrived safely in the country last week. Officials said this will see the mine managing to haul up to 1,2million tonnes of ore from the mine per day to the processing plant in the first phase of the mine's growth plan.

Chief representative Collins Musarurwa said the investment was in sync with Government's Vision 2030, of an empowered upper middle income society, Further, he said the investment sets the mine on the right path to enhancing gold yield capacity while transforming operations into one of the biggest among fledgling gold mines.

Notably, the investment into production dovetails into the Government's vision of growing mining to US$12 billion industry by 2023.

"The trucks we have brought in will enable us to hold up over 1 000 tonnes in our production scale.

"As a progressive entity just like any other mine that is heeding President Mnangagwa's call, we should contribute meaningfully to the Government's drive towards a US$12 billion mining industry by 2023, so that we significantly contribute to economic growth for the country.

"We are currently conducting production through heap leaching but our target is to venture into the more proficient milling to improve output.

"We have received massive support from Government and earlier in the year we were visited by the Minister of Mines and Mining development Winstone Chitando who gave our operations the thumbs up and implored us to continue giving our all for the good of the mining industry and the greater economy," Musarurwa said.

Radnor Mine says the future looks bright owing to its subscription to the Government's target of an empowered upper-middle income economy by 2020.

Given Zimbabwe's rich mining deposits, mining is primed to anchor economic growth in the short, medium and long term.

As such, Radnor Mine intends to transform its mining operations in Mutoko through formalising all mining activities and investing in equipment that is also helping the local alluvial miners.

Mr Musarurwa said Radnor Mine, which is operated by ZimCn (ZimChina) Investments, was banking on the prospect of its mining and other investment projects to contribute to the Government's targeted US$12 billion revenue by 2023. The mine is targeting a turnover of approximately US$1,5 billion per annum.

"The future is bright. What has been a problem is the lack of sound economic roadmaps, which previous Governments failed to implement since 1912, unlike the Second Republic's administration under the stewardship of President Mnangagwa," he said.

He said Zimbabwe was on course for a great leap towards the Vision 2030, also driven by the Government's devolution policy aimed at growing the Gross Domestic Product (GDP) of all provinces.

Radnor Mine praised President Mnangagwa for restoring the dignity and pride of Zimbabweans through the ongoing use of local resources to drive socio-economic development.

"We applaud the President of the Republic of Zimbabwe's endearing messages and wisdom, especially in mining development, as it is one of the key pillars of the five-year economic blueprint and a priority amongst National Development Strategies, championing the ease of doing business both locally and internationally," he said.

As part of its corporate social investment programme, Radnor Mine senior partner Tapuwa Chipembere said, they have plans to revamp most of the road network across Mudzi District. The road networks, Mr Chipembere said, will be crucial for changing the face of not only Mudzi District, but also Mashonaland East Province as a whole.

"As a mine, our operations hinge on three key factors namely sustainable and environment friendly mining, contribution to the country's economic growth as well as investing in community development in Makaha and beyond.

Radnor Mine looks forward to the roll out of massive road construction and rehabilitation works spur overall local and national economic growth, and ensure efficient supply chains.

"We want to roll out a number of community development projects that will ensure sustainable community development through engagement and consultations with locals.

Working with the local leadership, relevant Government departments and the political leadership, we hope to effectively support the President and Government's economic blueprint," said Chipembere.

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