Mutapa Investment Fund says it requires nearly US$250 million to expand gold mining operations and secure long-term production growth as Zimbabwe intensifies efforts to position gold at the centre of economic recovery and industrialisation.
Speaking on behalf of Mutapa Investment Fund chief executive John Mangudya, deputy investment officer Ernest Denhere revealed that Mutapa Gold Resources is already pursuing a US$75 million local debt syndication facility as the first phase of financing for life-of-mine expansion projects.
Denhere said the company has allocated more than US$12 million toward exploration activities in 2026 as it seeks to secure a minimum 10-year lifespan for each operation within its mining portfolio.
“We are expanding geological programs to unlock new resources, extend the life of our assets and de-risk future production,” he said.
Mutapa Gold currently produces around 300 kilograms of gold per month, although output reached a record 340 kilograms in March. Production is projected to rise to 570 kilograms monthly by 2028 through planned expansion initiatives.
Authorities say the strategy goes beyond extraction by strengthening local refining, beneficiation and downstream industrial linkages tied to logistics, engineering and SME development.
The expansion push comes as Zimbabwe seeks to increase mineral exports, strengthen foreign currency inflows and accelerate industrial growth under the National Development Strategy 2 framework.
