ZMDC seeks partners to revive key mines

ZMDC seeks partners to revive key mines
ZMDC board chairman Mr David Murangari (right) and Beijing Pingchang Investments chief representative in Zimbabwe Shouming Lin in this file picture
Published: 03 May 2018
THE Zimbabwe Mining Development Corporation (ZMDC) is seeking joint venture partnerships to resuscitate its defunct gold and graphite mines across the country.

ZMDC acting general manager Mr Garikayi Chimhina told Business Chronicle in an interview in Bulawayo that they have flighted tenders seeking investors for joint venture partnerships to resuscitate Sandawana, Jena, Elvington and Lynx mines. "We have tendered Sandawana Mine in Mberengwa. The mine is endowed with minerals such as iron ore, gold, emeralds, tantalite and lithium.

"So, we are looking for a partner who will be able to exploit at least 50 percent of the minerals, high on the list is  emeralds but if anyone also wants to go into lithium or tantalite the better for us," he said.

Mr Chimhina said although Jena Mines has been re-opened, they have also tendered it seeking investors with a view to inject fresh capital to boost gold production at the mine.

"On gold properties, we also have Elvington Mine. We also tendered it and is on care and maintenance and very soon we will be engaging our partner to re-open the mine.

"Our target for all the tenders is to have concluded the joint venture issues by June 11, 2018 so that we begin to move onsite," he said.

Elvington Gold Mine suspended operations in 2003 due to the collapse of one of its main shafts and was placed under care and maintenance. At present, the mine is involved in dump retreatment while preparing for resumption of underground operations. The mine used to produce 45 kilogrammes of gold per month. On Lynx Graphite Mine in Karoi, which was also under care and maintenance, Mr Chimhina said the mine had also been tendered.

"The mine was closed after the Germany investors pulled out of the partnership some years ago," he said.

The parastatal, which also owns Sabi Gold Mine re-opened the Zvishavane-based mine in March last year through a joint venture partnership with a local investor, Chandiwana Mines. The gold mine has since improved output to 25 kilogrammes per month and employs more than 400 workers. 
- zimpapers
Tags: ZMDC,


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