By Staff Reporter
NEWLY established mining venture, Kuvimba Mining House, has laid out an ambitious plan and is targeting to produce up to 500 000 ounces of gold per year from its subsidiaries, which will help turn the fortunes of the gold sector.
This was said by the group’s chief executive officer, David Brown.
Kuvimba Mining House subsidiaries are, Freda Rebecca Gold Mine; Shamva Gold Mine and Jena Mine. The nickel operating mine is Trojan Nickel Mine trading under Bindura Nickel Corporation while the platinum asset is Darwendale Platinum project trading under Great Dyke Investments and the Chrome venture which is Zimbabwe Alloys Limited.
David Brown:Chairman:Coal of Africa 15/03/2013.pix Robert Tshabalala
A new mining group, Kuvimba Mining House, in which government has 65 percent shareholding, has been launched amid expectations that the country will benefit more from the venture.
Boasting of an asset portfolio of USD1.5 billion worth of minerals such as gold, nickel and chrome, Kuvimba Mining House, which was launched this Friday in Shamva alongside the re-commissioning of Shamva gold mine, is expected to be a game-changer towards achieving a middle-income economy by 2030.
Receiving share certificates from Kuvimba mining House Chief Executive Officer, David Brown, Finance and Economic Development Minister, Professor Mthuli Ncube said the company will generate funds that will go towards achieving inter-generational equity.