Caledonia Mining Corporation Plc says its flagship Bilboes Gold Project in Matabeleland North is set to become the largest gold mining operation in Zimbabwe, positioning the country as a competitive destination for global investment.
Speaking at the media launch of the 2026 Sunshine Tour Zimbabwe Open at Royal Harare Golf Club, Caledonia Executive Director Victor Gapare said the project is expected to produce over six tonnes of gold annually, delivering significant economic benefits through foreign currency generation, job creation and downstream industrial activity.
Gapare revealed that the scale and potential of the project has already attracted strong international investor interest, citing a recent capital raise in New York that exceeded expectations.
“We were targeting to raise about US$100 million. We upsized it to US$150 million, but the offers came to US$600 million,” he said, describing the response as a strong endorsement of Zimbabwe’s mining prospects.
He said the Bilboes project represents the kind of success story Zimbabwe should be actively promoting to the global community, arguing that the country’s economic narrative remains underrepresented internationally.
“Zimbabwe has got a very good story to tell. There are incredible things happening in this country which have not been told,” Gapare said.
The remarks came as Caledonia joined the 2026 Zimbabwe Open as an associate partner for the first time, aligning itself with one of the country’s premier sporting events.
Gapare praised organisers and sponsors for maintaining the tournament’s international appeal, noting that platforms such as the Zimbabwe Open play an important role in showcasing the country’s potential beyond traditional sectors.
He said combining investment success stories like Bilboes with high-profile events such as the Zimbabwe Open can help reshape perceptions and attract greater international attention.
“We ought to be telling this story out there,” he said.
The Zimbabwe Open, part of the Sunshine Tour calendar, is expected to draw regional and international participation, further strengthening Zimbabwe’s profile as both a sporting and investment destination.
