Monday , September 26 2022

Zimbabwe to announce winner of two-week mining tenders – The Zimbabwe Mail


The mining company, Gold Mine, announced today that other companies will be recognized for sale at the end of November.

The sale of struggling government companies, locally known as parastatals, is part of President Amanson Mangangwa's broader reforms to cut government spending.

Mining Winston Chitando told a parliamentary committee that after announcing the winners of six mine tenders, the Zimbabwe Mining and Development Company (ZMDC) will sell its remaining 20 assets by the end of the month.

ZMDC will sell or order joint ventures for most of the mines, most of which operate under capacity or under maintenance and care, said Cindendo.

The mining company of Caledonia, which now operates the "Blanket" company in southern Munich, is among the contenders for the two gold mines.

"As the government, we would like to see any property owned by ZMDC entered into production," Chitando said.

Gold is one of Zimbabwe's largest minerals. Output bullion reached a record 994,726 ounces between January and October this year, compared with 952,397 ounces for each 2017, Chitando said.

Small-scale producers, who pay cash for their shipments to a subsidiary company owned by the central bank, now account for 61 percent of Zimbabwe's gold production, according to data from the firm's mines.

Large gold miners, however, say that their activity is being hit by a shortage in the US dollar, which last month forced the ducks to temporarily close its mines.

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