The country’s largest gold mining firm, Metallon Group has ruled out closing operations in Zimbabwe, saying it is in talks with the government to facilitate viable and sustainable business projects.

The revelations come in the wake of the latest labour or worker rationalisation at one of its largest subsidiary, Mazowe Mine in light of re-engineering operations through installation of new machinery or working capital.

The company’s majority shareholder and Chairman, Mr Mzii Khumalo said after a series of meetings with government officials on Wednesday, the company, which has the largest gold reserves of more than 8 million ounces, is however restructuring operations and not closing its mines in Zimbabwe.

“We are not shutting down operations but this is just a phase which we anticipate to be a success in the near future,” he said.

The Minister of Mines and Mining Development, Cde Winston Chitando said the government is committed to ensuring that policies being instituted by the gold mining company will contribute to economic development.

“We are happy that they are here to talk and discuss key issues that are of greater importance to the country,” he said.

Gold mining is critical in generating yearly foreign exchange receipts with official data showing that over 20 tonnes of the yellow metal have so far been produced against a target of 30 tonnes by December this year.