Investors are being lured to Zimbabwe’s gold mines

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Mauritius-based Sotic eyes four idled state-owned operations after acquiring two mines

Landela is ramping up output at Freda Rebecca and in June concluded a deal to buy the mothballed Shamva gold mine from indebted Metallon, once Zimbabwe’s biggest gold minerA gold mine near Bindura, Zimbabwe. Picture: REUTERS/PHILIMON BULAWAYO

“Gold is a commodity with potential positive impacts,” Brown said. “We want to grow the resource base to provide upside for both company and country.” Landela is ramping up output at Freda Rebecca, an operation formerly owned by Asa Resources, and in June concluded a deal to buy the mothballed Shamva gold mine from indebted Metallon, once Zimbabwe’s biggest gold miner. While the coronavirus pandemic delayed the acquisition of two more Metallon mines — Mazoe and Redwing — the transaction should be concluded shortly, according to Brown.

 

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