Connemara Gold Mine is located 30km north of Gweru, next to Connemara Open Prison on a farm owned by the ZPS. The ZPS’s search for an investment partner was prompted by the serious viability challenges facing the mine.
ZPS spokesperson, Superintendent Elizabeth Banda, told The Zimbabwean that the ZPS was in the process of finalising paper work with its newly found partner.
“I can confirm that the ZPS has managed to find a partner to help in reviving operations at Connemara Gold Mine. I can not tell you who this partner is,” said Banda. Banda said the ZPS had been working on proposals brought by firms interested in the partnership deal. She described the move as a milestone for the ZPS and expressed optimism that it would help to increase productivity at the mine.
“The deal is in tandem with the country’s Indeginisation policy and we are also liaising with the Ministry of Mines so that we are able to meet all the requirements,” said Banda.
In October last year, a highly placed source at ZPS told The Zimbabwean that senior officials had set their sights on the gold mine. The source said ZPS had invited a foreign-owned firm to help revive operations at the gold mine.
The source indicated that powerful figures in a ZPS-owned company, Pamberi/Xobikani, were conniving to grab 51 percent ownership of the mine by forking out their personal finances.
Post published in: Mining