Kuvimba Mining House (KMH), Zimbabwe’s largest mining company, has announced an ambitious investment of over US$150 million in capital expenditure programs aimed at reviving mothballed mines. This significant effort is part of KMH’s mission to consolidate Zimbabwe’s development agenda by resuscitating and developing strategically important mines and industrial operations.
Established a few years ago, KMH holds vast interests in various resources including gold, nickel, lithium, chrome, and platinum. The company either holds 100 percent equity or is a major shareholder in several entities, including Victoria Falls Stock Exchange-listed Bindura Nickel Corporation (BNC), Globe and Phoenix, Freda Rebecca, Shamva, Jena, Sandawana, Tiger and Club, Elvington mines, and Zimbabwe Alloys (Zim Alloys).
In an interview, Innocent Rukweza, KMH’s Chief Finance Officer, expressed confidence in the company’s ability to recoup its substantial investment in reviving these acquired entities. He stated, “We are trying to revive most of the mines that we have, and we got a project of reviving and restarting some of the mines that have not been functional, and we are very confident that we’ll recover the investment that we are going to put in.”
Rukweza disclosed that KMH has already spent more than $150 million in capital expenditure to resuscitate and upgrade these mines, emphasizing their commitment to the projects.
KMH’s exploration endeavors are also in full swing, with plans to allocate between $20 million and $30 million to exploration across the board. These exploration efforts have been initiated at mines including Shamva, Freda Rebecca, Sandawana Mines, and Great Dyke Investments’ platinum project in Darwendale, Mashonaland West Province.
Rukweza outlined the exploration plans, saying, “We have an aggressive exploration program that we have earmarked, we are looking to spend between US$20 million and US$30 million in exploration.” He added that the results of this exploration would serve as a foundation for the reconfiguration and sustainability of their mines.
One particularly promising project is the transformation of Sandawana Mine, which was formerly an emerald mine, into a lithium and tantalite operation. An extensive exploration program involving other mineral resources like beryllium, tantalite, and gold is already underway in four phases. Under the first phase, Sandawana is targeting a resource of up to 30 million tonnes of lithium ore.
Rukweza further explained, “Sandawana is the group’s most promising project that we have currently. Next week or at the beginning of October, we are hoping to start Phase 2 of our exploration and we are hoping to get a JORC (Joint Ore Reserve Committee) report of phase 1 and that is going to ascertain the resource that we have.”
With indications already pointing towards a substantial lithium reserve at Sandawana, KMH’s investment and revitalization efforts appear to be on a promising trajectory.
Kuvimba Mining House’s dedication to reviving dormant mines and exploring new opportunities demonstrates its commitment to playing a pivotal role in Zimbabwe’s mining sector and the nation’s economic growth.
The company’s bold investments are a testament to its belief in the potential of Zimbabwe’s mining industry, positioning it as a significant player in the global mining arena.
