Zim a hidden gem: ED 

Source: Zim a hidden gem: ED – The Southern Eye

PRESIDENT Emmerson Mnangagwa has described Zimbabwe as a hidden gem, with many investment opportunities yet to be fully explored.

Mnangagwa made the remarks during the commissioning of Blanket gold mine central shaft expansion in Gwanda, Matabeleland South.

 “Zimbabwe has been blessed with abundant gold reserves, Zimbabwe is a hidden gem yet to be fully discovered, and huge investment opportunities await you,” Mnangagwa said.

“To the Mines and Mining Development minister Winston Chitando and your ministry, I urge you to continue working hard and providing timeous professional service for so much remains to be done towards sustainable development of the sector,” he said.

 “In this regard, our envisioned output for the gold sector is a sustainable annual gold production of 60 tonnes by 2023. Gold is a strategically key export for Zimbabwe given that the precious metal ranks as the country’s single largest export. The mineral is an integral component of the Government’s plans to grow mining exports.

He said the Caledonia central shaft project is expected to boost production to 80 000 ounces of gold per annum.

Caledonia mining corporation chief executive officer, Mark Learmonth said the central shaft was also meant to provide access to the deeper mineral resources and extend the life of mine.

“The result is one of Zimbabwe’s deepest gold mine shafts, going down to 1 200 metres from the surface. Over 2 000 Zimbabweans work at Blanket Mine and we have a very strong connection with the community. The listing of Caledonia Mining on the Victoria Falls Stock Exchange last year not only strengthens our commitment to Zimbabwe but has also provided a platform for more local participation in the business,’’ said Learmonth.