Zimbabwe State Miner Secures Funding to Double Gold Output to 220,000 Ounces by 2029

Mutapa Gold Resources aims to double annual output to 220,000 ounces by 2029 through a multi-asset expansion project.

The state miner secured $75 million from local banks, seeking another $75 million internationally for Shamva Hill.

Expansion follows a 10% production drop to 104,626 ounces, caused by depleting surface ore grades this fiscal year.

The upgrade supports Zimbabwe's target of 50 metric tons as gold driving 47.5% of national export revenue.

Zimbabwe State Miner Secures Funding to Double Gold Output to 220,000 Ounces by 2029

Mutapa Gold Resources aims to double annual output to 220,000 ounces by 2029 through a multi-asset expansion project.

The state miner secured $75 million from local banks, seeking another $75 million internationally for Shamva Hill.

Expansion follows a 10% production drop to 104,626 ounces, caused by depleting surface ore grades this fiscal year.

The upgrade supports Zimbabwe's target of 50 metric tons as gold driving 47.5% of national export revenue.

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