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Zimbabwe's Kuvimba seeks $1 billion for platinum, gold projects

By Reuters Staff
2 Min Read
HARARE (Reuters) - Zimbabwe’s unlisted Kuvimba Mining House is seeking to raise $1 billion for its gold and platinum projects, including a gold mine that could produce 150,000 ounces a year, as well as exploration, its chief executive officer said on Friday.
A Zimbabwean miner works underground at Metallon Gold mine in Shamva, about 80 km (50 miles) north of the capital Hararre, June 14, 2011. Metallon Gold, Zimbabwe s largest gold miner, will raise output to 95,000 ounces this year but will miss an initial target of 136,000 ounces due to flooding at three of its mines, a senior official said last week. REUTERS/Philimon Bulawayo/File Photo ....

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Zimbabwe's Kuvimba to raise $1bn for new mining projects

Metallon had put Shamva under care and maintenance in early 2019 because of mounting debts.
Zimbabwe, grappling with its worst economic crisis in more than a decade, is pursuing an ambitious plan to raise mining output and earn the country $12bn a year. Platinum and gold mining are seen as an anchor of that drive.
Rising metals prices could help attract investors into mineral extraction to generate much-needed foreign currency.
Gold gained about 25 per cent in 2020 as global central banks and governments delivered economic stimulus, laying the ground for higher inflation and currency debasement. The price of platinum also rose more than 10 per cent. ....

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Zimbabwe's Kuvimba seeks $1 billion for platinum, gold projects

Zimbabwe's unlisted Kuvimba Mining House is seeking to raise $1 billion for its gold and platinum projects, including a gold mine that could produce 150,000 ounces a year, as well as exploration, its chief executive officer said on Friday. ....

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GDI to earn US$350m annually

GDI to earn US$350m annually
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