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Wednesday, 25th March 2009 (1856 views)

Mwana Africa has announced that it is planning to restart gold production at the Freda Rebecca mine in Zimbabwe.

The property is located 90km north-east of Harare and Mwana plans to "dewater" the partially-flooded mine in order to commence production, Bloomberg reported.

According to the London-based company, the "sustained strength" of gold prices in recent months and changes in Zimbabwean export regulations had prompted the decision.

Geological, mining, and engineering consultants have now been appointed to plan and evaluate production plans for the Freda Rebecca mine.

Mwana purchased a 100 per cent interest in the Freda Rebecca gold mine in April 2005 and has recently agreed to sell a 15 per cent stake in the operation to a local investor.

Pan-African resources company Mwana was established in October 2005 and was the first African-owned, African-managed business in the sector to be listed on the London Stock Exchange's Alternative Investments Market.

 

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