Zimbabwe’s state-owned gold mining company Mutapa Gold Resources plans to double its annual output to 220,000 \u200bounces by 2029 after securing funding for an\u00a0expansion project, \u200caccording to production reports made available to reporters on Friday.<\/p>\n
Mutapa, the country’s biggest gold producer, had output of 104,626 ounces in the financial year to \u200bMarch 31, according to the documents, a 10% decline from \u200bthe year before mainly due to lower grades.<\/p>\n
The company \u2060said it had secured $75 million from Zimbabwean banks, half the \u200bfunding requirements for its Shamva Hill open pit project, which will \u200braise the mine’s output to nearly 80,000 ounces annually from about 24,000 ounces currently.<\/p>\n
Work on the Shamva project, about 100 km (62.14 miles) north-west of Harare, will \u200bbegin in August, and Mutapa is negotiating with foreign lenders \u200bfor the balance of the project’s capital requirements, it added.<\/p>\n
The rest of the \u200cadditional \u2060production will come from a capacity expansion at the company’s Jena mine, where work is expected to start in the final quarter of 2026, improved output at its Freda Rebecca mine, and moves \u200bto incorporate material \u200bfrom artisanal miners.<\/p>\n
Mutapa, \u2060owned by Zimbabwe’s sovereign wealth fund, is key to the country’s ambitions to raise gold output. \u200bThe country is targeting 50 metric tons of production \u200bthis \u2060year from last year’s record 46.7 tons.<\/p>\n
Gold is Zimbabwe’s top foreign currency earner, with export sales reaching $1.19 billion in the first quarter of \u20602026, \u200bagainst $579 million during the same period last \u200byear.<\/p>\n
Zimbabwe earned $4.61 billion from gold exports in 2025, nearly half of the country’s total \u200bexports of $9.7 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Zimbabwe’s state-owned gold mining company Mutapa Gold Resources plans to double its annual output to 220,000 \u200bounces by 2029 after securing funding for an\u00a0expansion project, \u200caccording to production reports made available to reporters on Friday. Mutapa, the country’s biggest gold producer, had output of 104,626 ounces in the financial year to \u200bMarch 31, according to […]<\/p>\n","protected":false},"author":1,"featured_media":21116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":3,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2362,3028,30],"tags":[5205,76],"class_list":["post-21115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-mining","category-southern-africa","tag-mutapa-gold-resources","tag-zimbabwe"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=21115"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21115\/revisions"}],"predecessor-version":[{"id":21117,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21115\/revisions\/21117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/21116"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=21115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=21115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=21115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}