The Zimbabwe Mining Development Corporation (ZMDac) requires about $300 million for the exploration of tantalite and other related economic value minerals at its Sandawana concessions in Midlands Province.
By Regerai Muchineripi
The state mining vehicle is soliciting for joint venture partnerships to raise the required capital which also entail transfer of technology . There are also current efforts by the miner to resuscitate its defunct gold and graphite mines across the country.
The Sandawana concession has a mining lease area of 3,924 hectares wih available minerals including emeralds, lithium, tantalite, tin, chrome, banded ironstone, gold, beryl and fuchsite slates.
“The Sandawana project needs $300 million exploration and mining. The exploration will be for tantalite and other related minerals,” said ZMDC. The state mining group recently flighted tenders seeking investors for joint venture partnerships to resuscitate Sandawana, Jena, Elvington and Lynx mines.
“We have tendered Sandawana Mine in Mberengwa. The mine is endowed with minerals such as iron ore, gold, emeralds, tantalite, and “So, we are looking for a partner who will be able to exploit at least 50 percent of the minerals, high on the list, the easier one is the emerald but if anyone also wants to go into lithium or tantalite the better for us,” said the miner.
On the gold mines, although Jena Mine has been re-opened, they have also tendered it seeking investors with a view to inject fresh capital to boost gold production at the mine.
Elvington Gold Mine suspended operations in 2003 due to the collapse of one of its main shafts and was placed under care and maintenance. The mine is involved in dump retreatment while preparing for resuscitation of underground operations. Before suspending operations, the mine used to produce 45 kilogrammes of gold per month.
ZMDC also also owns Sabi Gold Mine which now operational through a joint venture partnership with a local consotium, Chandiwana Mines.
The gold mine has since improved output to 25 kilogrammes as of last month employing over 400 people.
On Lynx Graphite Mine located in Karoi, which is still under care and maintenance has also been tendered.
ZMDC is looking at investors with capital, technology and skill and thus local and foreign investors were being considered for the joint venture partnerships.