Published: 01 April 2018

The government owned Sabi Gold Mine is projecting a 58 percent rise in production this year following the injection of fresh capital by a new investor.

The injection of fresh capital in the mine by a new investor, which saw the government through its investment vehicle, the Zimbabwe Mining Development Corporation (ZMDC),  disposing off a 49 percent stake, has created favourable conditions for the mine which had experienced profitability challenges.

Sabi Gold Mine Judicial Manager, Dr Wesley Sibanda said the growth in production will be underpinned by new investments and also payments of more than $1 million to the mine's creditors.

"We are targeting 434kgs of gold from 181kgs last year and this is a boost for the production at the mine which had ceased output," he said.

Gold production in Zimbabwe is overally on a rebound with expectations that the rebound in Sabi Gold Mine will also positively impact on the sector's contribution to exports, employment creation and economic growth.
- zbc

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