Kuvimba Seeks US$150 Million to Develop Shamva Mine
Shamva Gold Mine requires a total of US$150 million to develop into a world-class resource and establish the necessary infrastructure for gold processing, according to Kuvimba Mining House (KMH) Group CEO Trevor Barnard.
By Rudairo Mapuranga
Kuvimba is investing heavily in exploration at Shamva Mine, though currently, ore from the mine is processed at Freda Rebecca Gold Mine.
Speaking to Mining Zimbabwe, Barnard emphasized the significance of Shamva Gold Mine as a resource Kuvimba aims to fully develop before seeking additional investors.
“Shamva Mine is already operational underground, but we recognize its potential as a significant resource that needs further development. We are looking at a substantial capital investment of up to US$150 million to build the necessary infrastructure, including a processing plant, to start producing our own gold there,” Barnard stated.
In January last year, Shamva Gold Mine announced plans to develop a US$140 million open-pit mining operation at Shamva Hill, targeting the production of 200,000 tonnes of ore per month over the next 16 years.
Currently, the mine produces 45,000 tonnes of ore per month from its underground operations, a level last achieved in 1910. Operations at the Shamva Hill Open Pit project are expected to commence in two years.
Shamva Gold Mine operates as a conventional mine, utilizing 10-tonne locomotives capable of transporting up to 30 tonnes in a single draw, along with other earthmoving equipment.
Since 2020, the mine has produced an average of 520,000 tonnes of ore annually, mined at a grade of 1.70g per tonne.