Freda Rebecca Gold Mine has recorded a breakthrough after generating 311 kilogrammes of gold in June, last month. This is an addition of 11 kilograms to the May produce. This is as the government heightens efforts to realize a US$12 billion mining economy by 2023.
The firm, which is a subsidiary of Kuvimba Mining House, has never recorded such an accomplishment as concerns production since its commencement.
The chief operating officer for Kuvimba Mining House Mr Cobus Bronn, commended the performance saying that the mine had surpassed its set objectives by far and shareholders will be pleased.
“Freda Rebecca Gold Mine exceeded May’s record production of 300kg by producing 311k kg of gold for June 2021,” he said.
“This is 15 per cent above budget, and this shows the company is moving in the right trajectory.”
Mr Bronn also indicated that focus will now shift on other mines to coerce them to attain big margins. Employees at Freda Rebecca are set to receive a ‘chairman’s bonus’ for exceeding the target.
Kuvimba mining house acquired Freda Rebecca Gold Mine last year, 2020, when its monthly production was 150 kgs. The growth has so far been vast and commendable.
“Kuvimba’s exploration on Shamva Mine shows that there will be a super pit which will be producing in excess of 400 kgs a month,” the chief operating officer said.
35 percent of Kuvimba is owned by a pool of investors while 65 percent shares belong to the government and its agencies. In addition to Freda Rebecca, Kuvimba also partly manages Jena Gold mine, Zim Alloys Limited, Trojan Nickel Mine and Darwendale Platinum Project (Great Dyke Investments)
In June, Kuvimba Mining House declared a US$ 5.2 Million dividends to stakeholders and the government after successfully reviving the mines which resulted to an increase in production.