Namib Minerals said it will restart operations at its previously mothballed gold mine in Zimbabwe in February, marking a return to production as the company seeks to benefit from higher gold prices and improving operating conditions.
The company said the decision follows the completion of refurbishment work and the securing of working capital to support the restart. Namib Minerals added that initial production will focus on existing ore stockpiles before full mining operations resume later in the year, according to a company statement cited by Reuters.
Zimbabwe has been pushing to revive idle mining assets as part of efforts to boost foreign currency earnings and stabilise the economy. The mining sector remains a key source of export revenue, with gold accounting for the largest share, government data shows.
Namib Minerals said it expects the mine to contribute positively to cash flow once production stabilizes, noting that it will continue to assess expansion opportunities depending on market conditions and operational performance, as reported by CNBC Africa.
