Radnor Mine sees role in US$12bn minig target

Source: Radnor Mine sees role in US$12bn minig target | The Herald (Business News)

Business Writer 

ZIMCN gold mining subsidiary, Radnor Mine, says its position as one of the country’s largest gold mining assets, will provide significant impetus to the country’s quest to grow mining into a US$12 billion industry by the end of 2023.

The certified and pro-community development Mutoko gold extractors is sure to end an eventful 2023 on a high note after making significant capital injections into its mining operations, which saw it bag several top awards.

ZIMCN executive director and chairman Collins Mnangagwa was awarded The Institute of Corporate Directors Zimbabwe (ICDZ) Board Chairperson of the Year non-listed companies, young corporate director of the year under 40 while the company also scooped the Mining Sector Supply  Excellence Award by the Institute of Supply Chain Management Zimbabwe  (ISCMZ).

“The accolades attest to our workmanship and pedigree. We have become one of the biggest gold mining assets in Zimbabwe and we believe this will give impetus to the country’s ambition to build a US$12 billion mining industry by 2023.”

On its part, gold is expected to chip in with US$4 billion worth of exports towards the realisation of the US$12 mining industry while other key minerals like platinum, diamonds, lithium, chrome and coal will also make substantial contributions.

Other awards won by the gold mining company included Mining Project of the Year Second Runner Up from Chartered Institute of Project Managers Zimbabwe (CIPMZ) awarded only last week.

“There is so much potential and opportunity for growth in the mining sector.

“Nothing can stop the country from attaining the targeted US$12 billion mining revenue by 2023,” Mr Mnangagwa said in a recent interview.

The Radnor Mine project is a flagship operation of a successful venture between indigenous partners, the local community and a foreign entity.

“Radnor has become a shining beacon that  illustrates and showcases the potential of productivity, which we can achieve if we put our minds together and work as one towards a common goal in support of vision 2030 of rebuilding a better Zimbabwe,” he said.

The Radnor chairman said the mining industry presented some of the brightest prospects to turnaround Zimbabwe’s economic fortunes.

“The mining sector, therefore, provides important forward and backward industrial linkages to the whole economy and its significance needs not be underestimated. Mining in Zimbabwe plays a very important role in employment generation for both skilled, unskilled and semi-skilled workers,” he said.

Speaking on the sidelines of the awards night, Mine Representative Tsvangirayi Simon Karimanzira said they were humbled by the recognition and pledged to continue doing more towards economic and national development.

“This recognition is quite humbling for us and it is our hope that we continue stirring towards increased productivity which will in turn contribute to meaningful economic growth and community development. Our goal is to make sure that we attain the envisaged US$12 billion mining industry target by 2023 while investing more in corporate social investment and corporate social responsibility,” he said.

Radnor Mine has continued to score new highs with massive injections into it’s gold mining operations in the years 2021 and 2022.  The mining company is situated in the Makaha area of Mutoko District in Mashonaland East Province and is a member of the ZimChina (ZimCN) investments.

In November 2021, the company spent US$3,5 million on acquiring dump trucks that went a long way in scaling up production. It also invested significantly into plant efficiency, excavating portals and state-of-the-art equipment.

The project dovetails into the Second Republic’s policy thrust to revolutionise rural communities into massive economic zones through mining ventures, among other economic development initiatives, to take Zimbabwe to a whole new level.

Radnor Mine’s gold crushing plant was officially opened by the President in June last year with various stakeholders and community villagers commending the huge investment, which is primed to foster meaningful development in Mutoko.

In Mutoko, the mine has donated towards the rehabilitation of roads, several primary schools in Makaha as well as other food and non-food items to vulnerable and underprivileged members of the community.

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