Jena Mine, a Kwekwe-based branch of Kuvimba Mining House has injected US$6 million for expansion. This is according to Kuvimba Mining House chief executive David Brown, who confirmed the progression saying that upon completion, the expansion is anticipated to result in a gradual increase in gold production. The ramp-up is predicted to increase 330% from monthly 24kg of gold to 83kg.
“Jena Mine a subsidiary of Kuvimba Mining House has a strategic plan to restructure itself to a mid-tier gold producer through organic growth phases over a two-year period,” the chief executive said.
According to him, the organic growth will be achieved through the plant and underground mine expansion optimization and exploration of the ore body to a depth of 500m.
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“The aim is to ramp up ore production from the current 8 000 tonnes per month to 30 000tonnes per month over the next 24 months. This translates to an increase in gold production from the current 25kg to 83kg per month, which equates to a 330% increase. The crushing, milling and leach plant capacity will simultaneously be upgraded to match the ore production ramp-up schedule,” Brown said.
He also stated that growth capital of close to US$6 million is required to execute the exploration programmes and to fund the expansion of the underground infrastructure, the shaft deepening plant expansion, and the extension of the tailings storage facilities.
The project started last May, and in June, Jena Mine was able to generate 31kg of gold indicative of positive progress, thanks to the expansion drive. The Mine has an able workforce of approximately 703 employees.
Kuvimba Mining House Group is owned and managed by the government in joint venture with a number of local investment firms such as Sovereign Wealth Fund of Zimbabwe, Public Service Pension Management Fund, Deposit Protection Corporation, Insurance and Pensions Commission, Datvest Nominees, and National Venture Capital Company of Zimbabwe.
