Eureka bolsters Zim’s ‘US$12 Billion economy’ vision

By Edward Mukaro
EUREKA Mine is targeting to produce an initial 140 kilograms of gold per month from the 3rd quarter of 2021, a development that would buttress Zimbabwe’s push to achieve a US$12 Billion economy through mining by 2023, deputy minister of mines and mining development Honourable Polite Kambamura has said.
Addressing the media after a tour of Eureka Mine in Guruve, Mashonaland West, Hon Kambamura hailed Eureka’s operations saying, “The operations feed well into the ministry’s (mines) vision to attain 100 tonnes of gold per annum by the year 2023.
“The plant they are building is one of the largest in the country, if not the region. This operation will be contributing billions of dollars to the fiscus, in the near future,” said Hon Kambamura.
With an investment of US$18 million having already been made towards Eureka’s design, new equipment and upgrading, the mine owners are looking at adding another US$32m worth of investment to get the business operating at full capacity.
Responding to journalists after the site tour, Dallaglio Investments chief executive Mr Marc Nicolle, said his firm is already putting in place modalities that would hedge the firms’ production targets.
“In terms of power, we are currently engaging authorities in that sector (ZESA), as we plan to take power from the grid from about 27 kilometres away from our site.
“However, ZESA won’t be the only source of power as we have diesel generators, while plans are in place to install a solar plant,” said Nicolle.
Eureka’s Guruve mine has a total resource (including inferred) of 16.6 million tonnes at an average grade of 2.24 grams/t, delivering 1.199.080 ounces (to a depth of 650m), while the plant will possess a processing capacity of 100.000t per month.
The mine’s production levels will undoubtedly bolster the nation’s push for re-admission into the London Bullion Market Association (LBMA).
Zimbabwe was expelled from the LBMA following depleted gold production levels, which slumped to 3,072 tonnes, a figure which is far below the stipulated 10t per annum by the London Bullion Membership.
Dallaglio purchased Delta Gold, which owned Eureka Mine from Mmakau Mining and the IDC of South Africa in April 2018, with competition and Tariff Commission approval granted in March 2019.

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