Zimbabwe gold miner plans to double annual output

Zimbabwe gold miner plans to double annual output

Zimbabwe’s state-owned miner Mutapa Gold Resources plans to double its annual gold production compared to the last financial year to reach 220,000 ounces by 2029. Mutapa said it secured $75 million from Zimbabwean banks to raise output from a key pit located to the northwest of Harare, with more capital expected from foreign lenders.Gold accounted for nearly half of Zimbabwe’s $9.7 billion export revenues last year, as the country hiked royaltie…