Kuvimba Mining House, a prominent player in Zimbabwe’s mining sector, is seeking to secure $950 million in capital to enhance its gold and lithium production. Speaking at a mining conference held in Victoria Falls, Chief Executive Officer Trevor Barnard highlighted the urgent need for substantial financial investment, stating that funding is the top priority to ensure the viability of the company’s operations.
While Barnard confirmed that efforts to raise the required funds are underway, he did not specify which investors the company is in talks with or provide a timeline for completing the fundraising process. The firm currently owns some of the country’s most historic gold assets, including Freda Rebecca and Shamva, and is also involved in lithium mining, a sector gaining importance due to global demand for battery minerals.
Strategy
In addition to its current operations, Kuvimba has plans to develop a new platinum-group metals (PGM) project, which will depend on the successful mobilization of financial resources. However, the company is also dealing with setbacks, including the administration of its Bindura Nickel Corp subsidiary, which halted production last year after a critical equipment failure and subsequent inability to raise the funds necessary for restarting operations.
Kuvimba’s success in securing the required investment will be crucial for revitalizing some of Zimbabwe’s oldest mining operations and expanding its footprint in strategic minerals. The outcome will also influence the broader mining sector, which remains a key pillar of Zimbabwe’s economic development strategy
