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Zimbabwe’s Landela agrees to buy state-owned gold mines

Chief executive David Brown former Impala Platinum Holdings CEO told Reuters that Landela’s takeover of gold mines run by state-owned Zimbabwe Mining Development Corporation ZMDC would be funded through debt and equity. The mines were put up for sale in 2018 but the government canceled the process last year without giving a reason.

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Zimbabwe& 39;s Landela agrees to buy state-owned gold mines

Zimbabwe’s Landela agrees to buy state-owned gold mines seeks more assets HARARE — Zimbabwe’s Landela Mining Venture has reached agreements to take over and revive four idle state-owned gold mines and is in talks to buy more assets from a privately-owned bullion producer its chief executive said on Friday.

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The owners wish to sell 85% interest and ownership in this project and this buys the mine Mill-Site lab assets permits modifi ion intellectual property heavy equipment wash plants and concentrating equipment. Present mine managers and site managers agree to stay on as management to train new people and assure a smooth transition.

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Canadian mining company in talks to buy idle Zimbabwean gold mine

B2Gold of Canada is considering buying an idled Zimbabwean gold mine if it can be exempted from a law that requires producers to sell all the metal to the country’s central bank people

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Zimbabwe& 39;s Landela agrees to buy state-owned gold mines

Gold is the single biggest forex earner in Zimbabwe and controlling its production gives Landela greater access to dollars which are in short supply in the country. Brown said Landela last month restarted operations at the 21000 ounces a year Shamva mine after buying it from Metallon Corporation owned by South African businessman Mzi Khumalo.

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