Serious Investor To Set Up A Gold Mine In Ngundu - Chitando

The government is in talks with a serious investor who is interested in establishing a gold mine in Ngundu in Masvingo, ZBC News reports.

This was revealed by Minister of Mines and Mining Development, Winston Chitando who spoke to the publication and said:

We have a serious investor who we are in discussion with for the establishment of a gold mine in Masvingo. In terms of the Ngundu prospect, the area has been identified and the investor is ready to move and start a resource definition programme.

So the quantum and size of the prospective mine will be determined. It is a question of what size of a mine will be established but there is definitely a mine that will be established in Ngundu. The investor is very bullish that the resource is there. I am confident that something will come up from there. After quantifying the economics then be worked out.

The government is on a $US12 billion mining industry by 2023 initiative which it hopes will boost the Zimbabwean economy which has taken a turn for the worst these past few months.

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