Small-scale miners got a massive boost after a Chinese company operating in the country offered mining equipment worth US$500 000, in the initial phase, to the Zimbabwe Miners Federation (ZMF) in order to enhance the country’s gold mobilisation efforts.
The partnership deal will see Live-Touch Investments Private Limited Company distributing equipment in phases to the tune of US$2 million at the ZMF service centres countrywide by end of this year.
The equipment which includes generators, separators and bow mills among others, will help to increase production by small scale miners which has been on a downward trend of late.
ZMF president, Ms Henrietta Rushwaya hailed the deal as one of the best to be entered into by small-scale miners saying they now anticipate to surpass the 40 tonne gold targeted output this year.
“We are trying to make sure that there is more production in the sector. By doing so, we hope to improve investor confidence by coming up with such synergies and with such, we are likely to surpass the 40 tonne target,” she said.
Live-Touch Investments Chief Executive Officer, Mr Dongning Wang said his firm was propelled to set up shop in the country following a friendly investment climate created by the second republic.
“I believe it is our duty as investors to also help in the host country’s development programme. Zimbabwe is doing well in the path they have taken and we are here to assist the gold production output through helping these small-scale miners,” said Mr Wang.
The deal is a part of many partnerships the ZMF is participating in with investors through public-private-partnerships, with the aim of maximising the gold mobilisation efforts to help the country re-enter the London bullion market.