The country’s biggest gold producer, Metallon Corporation is set to invest $12 million in its Mazowe mine to increase production to 70 000 tonnes monthly.
The need to increase production within the gold mining sector comes at a time when Metallon Corporation has completed the $18 million Mazowe processing plant which was commissioned last year.
The new plant will see the mine processing a 60 year old dump which the Minister of Mines and Mining Development, Mr Winston Chitando and his delegation toured in a bid to get a deeper understanding of the model.
“We are surely heading towards increased production to around 40 000 tonnes,” said Mr Joseph Chifamba, Metallon Gold Zimbabwe Consultant Metallurgist.
“We should spend between $11 million to $12 million to reach 70 000 tonnes monthly. 40 000 tonnes will come from underground, while 30 000 tonnes will come from surface mining,” Metallon Corporation Ceo, Mr Ken Mekani said.
Speaking to journalists after the tour, Minister Chitando said there is huge potential for the mine to increase production.
“There is huge potential in terms of up scaling their production and I am happy that they are working towards improving production,” he said.
Zimbabwe is pinning its hopes on the mining industry with emphasis on gold production which has become the anchor mineral for economic transformation.
Currently, gold is averaging US$1325 per ounce with market watchers expecting the price to increase in the second half of the year to around US$1500 per ounce.