SA miner to sink US$1m in Zim
SOUTH African mining company, Ingeli Minerals has made an initial investment of R10 million in alluvial gold mining in Shamva and the investment is expected to be scaled up to US$1 million, Sunday Business has learnt.
In an interview on the sidelines of the Zimbabwe Miners Federation exhibition held in Gweru last week, Ingeli Minerals chairman Mr Pumezo Mqingwana said operations are expected to start before end of the year.
“We have started investing in Zimbabwe up to the tune of R10 million. Very soon we intend to reach to US$1 million investment and after that we will immediately start operations. By the time we start to operate we believe we would have invested more than US$1 million in alluvial gold mining,” he said.
Mr. Mqingwana says the alluvial gold mining and washing project is about 90 percent complete.
“In terms of completion of the project we are now more than 90 percent. What’s left now is to bring equipment which we have been building in South Africa after exploration. The machines have been completed and they now await to be brought over to this side where we will operate,” he said.
He said the company is confident of sustainable operations, which could spur further investments in the country.
“We are certain that this project will unlock more significant projects that Ingeli Minerals will invest in, in Zimbabwe. We hope this will mark the beginning of a fruitful journey between Ingeli Minerals and Zimbabwe’s mining sector,” he said.
Meanwhile, ZMF president Ms Henrietta Rushwaya called upon the Government to relax laws governing the mining sector as some of the laws were stifling mining operations.
“We would like to call upon the Government to help relax laws that are governing the mining sector, especially the law that criminalises gold possession as it is promoting mineral leakages outside the country. If amended, production will increase by three-fold,” she said.
The ZMF Expo which was officiated by President Emmerson Mnangagwa was attended by various mining stakeholders_The Sunday News