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Tinashe Makichi Business Reporter
The Minerals Marketing Corporation of Zimbabwe-owned Kwekwe Roasting Plant has attracted interest from several investors who have since submitted their bids as Government steps up efforts to secure a partner for its resuscitation

There have been viability concerns surrounding the resuscitation of the plant and a lot of investors have been unwilling to commit funds on the project.

However, following the takeover of the plant by Government this year, investors have started showing commitment on injecting fresh capital on the project.

Chief Government Engineer in the Ministry of Mines and Mining Development, Charles Tahwa, told The Herald Business that there are investors who have expressed interest in the plant.

“Expression of interest was flighted in the Press and I can confirm that there were a lot of responses to the call.

“Some interested investors have already submitted their bids and as you know, systems at the plant are obsolete and need a complete overhaul,” said Engineer Tahwa.

He said the Kwekwe project is still viable and there are prospects for good business in the future.

The refractory plant ceased operations in 2000 and Government transferred ownership of the assets to Minerals Marketing Corporation of Zimbabwe on condition that the corporation would pay all the liabilities that the roasting plant had.

MMCZ paid all the liabilities and assumed ownership of the assets on behalf of Government.

Government through Ministry of Mines and Mining Development this year, however, assumed the responsibility of resuscitating Kwekwe refractory gold roasting plant with a view to realise $140 million from extracting gold trapped in dumps at the plant.

Mines and Mining Development Permanent Secretary, Professor Francis Gudyanga, told The Herald Business that the roasting plant on its own is a rich mine and there was hope that if the dumps at the plant are processed, about $140 million is expected to be realised.

The roasting plant was established in 1937 by the then government of Rhodesia to assist small-and-medium scale miners around Kwekwe in the processing of dumps or refractory gold ore.

In refractory ore, gold is locked up within the crystal lattice of sulphide minerals as very fine particles.

The only way to recover refractory gold is to break down the crystal structure of the sulphide mineral and the traditional method of doing this has been roasting.

These dumps have an estimated 350 000 metric tonnes of ore and according to Peacocke and Simpsons Mineral Processors, they contain 97 220 ounces of gold worth US$140 million at current prices.