Kuvimba Mining House’s gold cluster has announced a stellar performance for the fiscal year ending March 31, 2025, with total revenue reaching US$300 million.
This represents a significant increase from the US$205 million recorded in the prior year. The impressive surge in revenue was fueled by a combination of increased production volumes and improved ore grades across its operations.
During this period, the KMH Gold Cluster, which comprises Freda Rebecca, Shamva, and Jena Mines, collectively produced a total of 3,600 kilograms of gold, up from 3,246 kilograms in the previous year.
Notably, both Freda Rebecca and Shamva mines demonstrated substantial growth in their output. Freda Rebecca’s production reached 2,461 kg, an increase from 2,229 kg in the prior year, while Shamva Mine produced nearly 800 kg in the year leading up to March 2025. Jena Mine maintained a steady production level of 345 kg.
Kuvimba Mining House gold cluster Chairman Patrick Shayawabaya attributed this success to strategic operational efficiency and favorable market conditions.
“Having had an excellent production performance, we were fortunate that the gold price from the beginning of the financial year to March was always on an upward trajectory. So, the fact that we were able to maximize production meant that we were also able to leverage a very positive gold price,” he stated.
He also emphasized the challenges overcome to reach this milestone, acknowledging the dedication of the management teams, workers, and business partners.
“It was an excellent performance for us. We are just happy with the performance that we achieved because we were able to get as much of the production as well as physically possible to achieve. After all, there were a lot of challenges that we faced. And when you take all of those things into account, that production level is a production level that the respective management teams, the workers, and our business partners, all of those people contributed to what was an excellent year’s performance,” he said.
The mining giant has outlined an ambitious capital expenditure plan totaling US$54 million earmarked for exploration activities, and crucial upgrades to processing plants and equipment across all its mining sites.
Despite this substantial investment in future growth, the company anticipates maintaining its current production levels of approximately 3,600 kilograms of gold in the upcoming financial year.
Beyond production and financial success, the KMH Gold Cluster remains a significant employer, directly providing jobs for 2,600 individuals. Additionally, its operational model, which includes subcontracting, supports a further 1,200 jobs within partner companies, bringing the total number of people reliant on the cluster for their livelihoods to 3,800.
Meanwhile, internationally, gold prices have soared to unprecedented levels, reaching $3,500 per ounce in April 2025 and rising 40% in Q1, with the London Bullion Market Association LBMA (PM) quarterly average hitting $2,860/oz, up 38% year-on-year.
