By Own Correspondent
GOVERNMENT-owned Sabi Gold Mine is targeting to double production by end of 2019 owing to capital injections by its investor.
Chandiwana Mining Corporation is majority shareholder with 51 percent stake, made fresh capital injection to resuscitate Sabi Gold Mine which was placed under judicial management in 2011.
Statistics made available during the familiarisation tour of Sabi indicate that the Zvishavane gold mine is currently producing between 18-20 kilograms of the yellow metal per month.
Production output is targeted to reach 25 kilograms by December 2018, with a projection of 40 kilograms production before end of 2019.
“Currently the mine is producing 18-20kgs per month. We are forecasting to be producing about 25kgs by December with a plan to be producing 40kgs before end of 2019,” said Mr Clive Ziwodziwa, Sabi Gold Mine manager.
Mines and Mining Development minister, Winston Chitando said government will work hand in glove with Zimbabwe Mining Development Company (ZMDC) together with Chandiwana Mining Corporation to increase production.
“If we look at the current gold production in the country by December next year, Sabi, and I emphasise based on current gold production, should be the biggest gold producer in the country.”
Due to massive policies being implemented by government to fish out the economy out of the doldrums, Zimbabwe is expected to treble gold output to 100 tonnes in 12 years on the back of recapitalisation in the gold sector by various investors. ENDS//
