Caledonia Mining Corp (CALq.L) is exploring options to raise $250 million needed to develop its Bilboes project into what could be Zimbabwe's biggest gold mine.
New mine could boost Caledonia's output to 250,000 ouncesis exploring options to raise $250 million needed to develop its Bilboes project into what could be Zimbabwe's biggest gold mine.
The Bilboes project could potentially produce about 170,000 ounces of gold annually, boosting Caledonia's total bullion output to around 250,000 ounces, Mason said. "It will be Zimbabwe biggest gold mine by far," Mason told Reuters via email. "We are considering phased capital raising, but that will depend on the outcome of the review of the feasibility study."
While Caledonia has been able to pay dividends from its Blanket mine, Mason said in general terms some international investors remain concerned about repatriating profits from investments in Zimbabwe as well as about the country's policy stability.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria to require mining firms to invest in domestic processingNigeria is toughening up licensing rules for foreign mining companies to push them to boost processing and refining of metals like lithium and zinc within the country, its minister of mines said on Tuesday.
Read more »
Government of Rwanda in Partnership with SoftBank Corp. Successfully Delivers World’s First 5G Connectivity from the Stratosphere)-- The Government of Rwanda and SoftBank Corp. (TOKYO: 9434, President & CEO: Junichi Miyakawa, “SoftBank”) announced that on September
Read more »
OpenAI is in talks to sell shares at $86bn valuationOpenAI, which counts Microsoft Corp as a 49% owner, is led by Chief Executive Officer Sam Altman and President Greg Brockman.
Read more »
Nigeria Aims to Tap Into the Global Lithium MarketFor years, Africa's largest economy relied mainly on oil, but now wants to boost its mining industry. Nigeria wants to bank on the booming global lithium market.
Read more »
Gunmen kill three, kidnap at least 50 in northwest Nigeria, say residentsAt least 50 people, including women and children, were abducted and three others were killed in an attack by gunmen in Bagega, a mining village in Nigeria's northwest Zamfara state, residents said on Tuesday.
Read more »
Register for “Student Success begins with Wellness” presented by FundiFundi has partnered with Mail & Guardian to host a thought leadership online event on the critical topic of “Student Success begins with Wellness”.
Read more »