Delta Gold to invest USD 60 mn in Eureka Gold mine in Zimbabwe
The reopening of the mine offers an opportunity for it to make its contribution to the nation’s gold output which is expected to reach 100 tonnes per annum in the next five years.
President Mnangagwa yesterday officially reopened Eureka Gold Mine in Guruve, which hopes to produce at least 1.5 tonnes of gold annually when it accesses full production efficiency in the next 18 months. The reopening of the mine follows a USD 60 million capital injection by Delta Gold.
President Mnangagwa said Government's pressure was to partner investors to exploit the country's resources for the advantage of communities and the nation.
Mnangagwa stated that "Here in Guruve, the resources that are underground are yours. But if we do not exploit them they will remain underground while you remain poor."
"We, therefore, need investors that will assist us to exploit those minerals so that we develop as communities and as a nation. The resources can only be useful to us if they are exploited."
"The reopening of the mine offers an opportunity for it to make its contribution to the nation's gold output which is expected to reach 100 tonnes per annum in the next five years," said President Mnangagwa.
He also said "Equally important is need to gradually increase the employment capacity of the mine and foster mutually beneficial relationships with communities around the area which you operate."
He thanked the investors for the confidence they had shown in Zimbabwe.
"This investment of USD 60 million into the resumption of this mine bears confidence to the confidence that investors have in the bright future of our country. I want to thank Eureka Gold Mine shareholders and management for the effort that has gone into the project to date."