Investors are being lured to Zimbabwe’s gold 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 miner
12 July 2020 - 16:42
Harare — Zimbabwe’s biggest gold mines are being snapped up by Mauritius-based Sotic International as the price of bullion soars to the highest in more than eight years.
Landela Mining Ventures, which is controlled by Sotic, bought two of Zimbabwe’s gold mines in 2020. The newcomer is targeting six more mines, including four idled state-owned operations, said Sotic CEO David Brown. That expanding mining portfolio has strategic importance as gold is the biggest source of dollars in a nation facing foreign-currency shortages...
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