Metallon, one of the leading low cost gold mining company is looking forward to scale high its gold production significantly by stretching its operations in Zimbabwe as well as developing gold mines in Tanzania. The East Africa nation has been identified as an interesting avenue to ensure Metallon’s business continues to grow.
Metallon is currently in the process of securing mineral rights located within the Lake Victoria gold fields.
Currently the company is restructuring its business, where each of the four operating mines in Zimbabwe will now operate as separate entities, as part of a strategy to increase efficiencies and meet growth targets.
Each of these mines is now operating under separately registered companies, namely Bulawayo Mining Company, Goldfields of Mazowe, King’s Daughter Mining Company and Goldfields of Shamva, respectively.
The company said the measures were meant to increase efficiencies and allow each mine to manage its own assets and operate more effectively, the company said in a statement.
“As the country’s leading gold producer, Metallon has a duty to invest in production and help meet national gold output targets. Metallon has an ambitious plan to increase gold production,” Metallon chief executive officer Ken Mekani said.
“As part of that plan, we had a thorough evaluation of our structure and operations. One of our key findings was that, in order for us to efficiently exploit our assets in the future, we require each mine to focus clearly on managing their own operations.”
Mekani said re-organising the group would “allow each operation to manage and exploit the vast potential of our assets more efficiently”.