US$12 Billion Gold Mining Companies Hopeful to Produce Four Tones of Yellow Metal Yearly towards 2023 in Zimbabwe

By Abdul Rahman Bangura –

Photo Credit: Thenewdemocrat

NEW AFRICA BUSINESS NEWS ( NABN ) Freetown, Sierra Leonne- ZIMBABWE, pair of gold mining firms beget establish a mark in a bid to manufacture four tones of the yellow metal annually, as a limited supplementary subsist predicted to tote two tones annually; as part of Government select imprints towards the 2023 landmark of 100 tones. This information was disclosed by Mines and Mining Development Minister Winston Chitando intimating the press on the advancement towards the US$12 billion mining sector crossroads.

Minister Chitando announced that, Government is sure the target will be met and that workouts on the ground all point towards success. He furthered that, Government has received note of various gold mining projects, which are at project phase as well as several others that are on diverse categories of growth to meet mining asset’s production potential. Specifically, the “use it or lose it” statutes, mining title holders are anticipated to proclaim produce that is in sync with the potential of the title.

On to this extent, there are at least two gold miners which Government wants to produce over four tones per year by 2023 and a rare of others that, will cap the two tones streak and there are stakes that is underway, to fulfill this target.

“On gold we are coming up with further interventions that will be unearthed soon to stimulate gold production,” Minister Chitando talked.

“The 100 tones by 2023 is premised on deliveries from large scale miners and small to medium scale miners. On the large scale miners, we have a number of companies which are in project phase to expand and also to come into production.

“We are targeting that we the ld have at least two companies producing over four tonnes (per year) by 2023 and then we should have a few more companies which should be producing over two tonnes,” he said.

With the geology of the country making some gold deposits more amenable to small-scale mining operations as opposed to conglomerate mining, Government also continues to explore ways to boost production in small scale gold mining.

It is against this background that Government is now stepping up efforts to set up gold centers to promote the relief of doing business for small-scale miners and at least five of these are required to start administering before the verge of June. Fifteen more are expected to come into stream before the end of the year.

“At the same time, Government is rolling out a total of 20 gold centers to enable and improve small scale production of gold whereby these gold centers will play a facilitator role in the operations of small scale miners,” Minister Chitando cited.

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