President Emmerson Mnangagwa is expected to commission the Blanket Gold Mine central shaft project in Gwanda, Matabeleland South soon.
This was revealed by Mines and Mining Development Minister Winston Chitando on Wednesday during a tour of the Caledonia Mining Corporation-owned mine, who said his trip was a precursor to President Mnangagwa’s visit.
Caledonia recently operationalised its new Central Shaft after pouring in US$67 million into the project which it started working on in 2015.
Although Caledonia production took a slight slump to 13 197oz in the first quarter of this year, the company remains on track to achieve its full-year production guidance of between 61 000oz and 67 000oz.
Last month, the mining firm posted a strong recovery of 5 470oz.
Chitando said the development at Blanket Mine will contribute significantly to the US$12 billion mining revenue by 2023.
Under the US$12 billion mining roadmap, gold is expected to contribute US$4 billion, platinum US$3 billion while chrome, iron, steel, diamonds and coal will contribute US$1 billion.
Lithium is expected to contribute US$500 million while other minerals will contribute US$1,5 billion.