Source: The Herald – Breaking news.
KMH, which is 70 percent owned by Mutapa Investment Fund, recently said it was seeking to raise US$950 million from development banks, mining companies and traders to fund the development of its lithium, platinum and gold assets, including Freda Rebecca (Pictured) 
Business Reporter
KUVIMBA Mining House (KMH) is targeting 3 600 kilogrammes of gold this year, driven by higher ore volumes and improved processing plant efficiencies.
The projected production represents a 12,5 percent jump from the 3 200kg the company realised in the previous year.
KMH expects improved quality ore and enhanced operational efficiency across its portfolio of gold mines namely Freda Rebecca Gold Mine, Shamva Mine and Jena Mine.
KMH, which is now 70 percent owned by Mutapa Investment Fund, recently said it was seeking to raise US$950 million from development banks, mining companies and traders to fund the development of its lithium, platinum and gold assets.
If completed the capital raise initiative is expected to bolster the group’s operational efficiencies and buoy output.
“For the current year, ending March 31, we project gold production of approximately 3 600kg, representing a 12,5 percent increase from the previous year.
“This growth is primarily driven by a higher ore grade, increased tonnage of processed ore and enhanced operational efficiencies at our two plants.
“Our goal as a cluster has been to maximise gold production, capitalising on the rising gold price trend. We are pleased to have successfully leveraged the thriving gold market to achieve our target,” said KMH head of gold cluster Mr Patrick Shayawabaya.
This comes after Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube recently said that the contribution of the mining sector to the economy had been steadily growing, rising from 11,5 percent of the country’s Gross Domestic Product in 2018 to 13,3 percent presently.
Similarly, the mining sector growth is projected at 2,3 percent and 5,6 percent for 2024 and 2025, respectively.
Gold is Zimbabwe’s largest foreign currency earner while mining in general accounts for more than three quarters of Zimbabwe’s export earnings.
The growth is driven by increased output, the discovery of new minerals (lithium) and investments in additional capacities.
This comes after the gold price earlier this month rose to a record, breaching the US$3 000-an-ounce following US President Donald Trump’s aggressive tariff agenda, which fanned concerns about the potential hit to growth, hurting demand for risk assets and aiding flows into bullion-backed funds. san diego bankruptcy lawyer
Gold peaked at US$3004.84 an ounce on March 14, 2024.
The yellow metal has performed robustly in the first quarter of 2025, extending a strong annual gain in 2024.
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