Zimbabwe’s state-owned miner plans to revive gold production

The state-owned Zimbabwe Mining Development Corp. plans to revive production at three gold mines, the state-controlled Herald said today, citing Deputy Mines Minister Gift Chimanikire.

China Business News reports:

The company has spent $2.4 million at its Jena Mine where it is targeting production of 36 kilograms (1,157 ounces) a month, up from the current 26 kilograms, the Harare-based newspaper reported on its website. The ZMDC is negotiating with an unidentified Zimbabwean bank to borrow $300,000 for exploration at its Elvington Mine, where shafts have been closed for eight years following a collapse, the Herald said. The state-owned corporation is also seeking a partner to reopen its Sabi Gold Mine in southern Zimbabwe.