Business / Companies
Sabi Gold Mine re-opens
04 Jan 2017 at 19:36hrs | Views
Sabi-Gold Mine is expected to re-open next week after the injection of fresh capital by a new investor with at least 100 former employees being re-engaged.
The government through its mining investment arm, the Zimbabwe Mining Development Corporation (ZMDC) has disposed off a 49 percent shareholding in Sabi-Gold Mine paving way for fresh capital injection and revival of operations.
According to ZBC, the mining firm judicial manager Dr Wesley Sibanda who is currently at the mine in Zvishavane confirmed that modalities for the re-opening of the mine have been concluded.
"We have concluded all the relevant platforms which are necessary for re-opening," said Dr Sibanda.
Sabi Gold Mine was closed few years ago due to financial challenges.
However, mining experts say its revival will set the tone for increased gold output in Zimbabwe.
The government through its mining investment arm, the Zimbabwe Mining Development Corporation (ZMDC) has disposed off a 49 percent shareholding in Sabi-Gold Mine paving way for fresh capital injection and revival of operations.
According to ZBC, the mining firm judicial manager Dr Wesley Sibanda who is currently at the mine in Zvishavane confirmed that modalities for the re-opening of the mine have been concluded.
Sabi Gold Mine was closed few years ago due to financial challenges.
However, mining experts say its revival will set the tone for increased gold output in Zimbabwe.
Source - zbc
