US$12 billion mining target by 2023 possible

Staff Reporter

President Emmerson Mnangagwa is set to commission RanMine Private Limited (RMPL), a Bindura-based gold mine, as the country works on achieving the US$12 billion mining target.

This publication managed to speak to a contact within RMPL, who disclosed that the mine had rich gold deposits that surpass those of Fredda Rebecca and Shamva gold mines.

“The Mine started its operations in October this year, its first US$1.5 million investment is expected to produce about 17.5 kgs of gold monthly from 5000 metric tons milling capacity. 

“Efforts are in place to explore the 2nd Phase of US$2.5 million investment, the 2nd phase is set to attain 10 000 metric tons monthly capacity by 2022,” said the contact.

The Minister of Mines and Mining Development, Winston Chitando has repeatedly said that the US$12 billion mining economy will be achieved over the next three years due to numerous mining projects set to take off.

“Some people are sceptical about the US$12 billion mining economy, but it is going to be achieved. The targeted figure is the culmination of a process of identifying the mining resources.

“The US12 billion mining economy by the year 2023, like I said so many times, it’s not an event but a process and that process is well underway. Over the next few months, will be witnessing slowly, but surely a lot of these commissioning and the US$12 billion has to be and will be achieved with no doubt,” he said.

According to contact, RMPL has long term plans of installing a 50 000 metric ton crush plant by December 2022, at an expected additional cost of US$4 million.

“RMPL has high grade quality level of about 3.5g per metric ton, which translates to 7.5kgs of pure gold per month which is higher than that of Fredda Rebbeca and Shamva gold mines which stands at 1.85g per metric tons and 2.65 metric tons respectively.

Meanwhile, RMPL stopped its operations in 1999 due to working capital challenges.  Illegal gold miners took advantage of the closure and started illegally mining using unsafe mining methods which resulted in the collapse of a shaft and 40 illegal miners died.  Recently RMPL faced a boundary dispute with the Zaoga Ezekiel Guti University (ZEGU), which resulted in the Provincial Development Coordinator’s Office stalling the initial commissioning to settle the dispute.