Shamva Gold our next big project – Kuvimba
The country’s biggest mine asset holder Kuvimba Mining House (KMH) has said that the Shamva Gold project where the company is developing an open pit mine is the company’s next big project.
Rudairo Mapuranga
According to KMH CFO Innocent Rukweza, Kuvimba has put an initial investment of +US$ 100 million to develop the mine into a world-class Gold project.
He said the mine will be producing an average of 250kgs per month, 3 tonnes a year making the mine one of the biggest Gold-producing mines in the country.
“The Shamva project is our next big project where we are going to do an open cast mine and it will produce upward of 250 kgs per month because it is going to be an open pit and grades there are very good. The initial numbers for investment are an upward of USD100 million to do everything, the processing plants and the improvements and other things,” Rukweza said.
The Shamva Hill open-cast mining project has an expected life of mine of 14 years according to current exploration results with the project expected to be up and running in two years.
At the Shamva Hill open pit project Kuvimba Mining House is going to establish a 220 000 tonnes per month processing plant together with a tailing storage facility. Currently Shamva Gold Mine is producing an average of 670 kgs from its underground operations since it’s revitalisation in 2020.
This year the mine is targeting to produce 717 kgs of gold.
Before the KMH takeover, Shamva had halted operations as it struggled to raise capital to remain in business, despite having one of the largest untapped resources in the industry.
KMH, in its quest to rescue mothballed mines, has acquired several entities such as Bindura Nickel Corporation (BNC); Shamva, Sandawana; Tiger and Club; Globe and Phoenix; Great Dyke Investments (GDI) in Darwendale; and Zimbabwe Alloys (ZimAlloys) and Freda Rebecca Gold Mine in Bindura where ore from Shamva is currently being processed among others.