Zimbabwe mine revival moves closer
24th Apr 2012
LONDON, Apr 24 – Pan-African miner Mwana Africa says reopening the mothballed Trojan nickel mine in Zimbabwe is a step closer following a $US33.5M fundraising and enlisting of new strategic investor China International Mining Group Corporation.
Mwana, which holds 52.9% in Zimbabwe-listed Bindura Nickel Corp, says work is now focussed on resolving legacy creditors and recapitalising the company for refurbishment of the surface milling circuits and thickeners.
Trojan, the Shangani mine and Bindura smelter and refinery complex were placed on care and maintenance in 2008 over production difficulties and a sharp decline in nickel prices.
Reopening the 1.1Mtpa-capacity Trojan mine will start a staged resumption. The mine hoisted 4,676t of waste in the March 2012 quarter under its care and maintenance program.
Mwana reports quarterly production at the Freda Rebecca gold mine near Bindura rose 19% to 14,280oz and the gold resource at the Zani-Kodo project rose to 2.01Moz.
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