KUVIMBA Mining House has transformed communities by creating over 3 500 jobs in less than a year after its establishment, a development which has put the company as a mining giant.
The Government has a controlling stake in the mining company, which has assets in many parts of the country.
Local contractors are benefiting through opportunities created by increased activity.
Kuvimba has three operating gold mines — Freda Rebecca, Shamva and Jena Gold Mine.
It has a stake in Bindura Nickel Corporation (BNC), the Darwendale Platinum Project (Great Dyke Investments) and Zim Alloys Limited.
Speaking after Freda Rebecca broke a 20-year production record by producing 300kg of gold in May, Kuvimba Mining House Chief Operating Officer Mr Cobus Bronn said within a space of a year the mining giant had managed to employ 3 518 workers.
BNC now has 1125 workers, followed by Shamva Gold Mine with 890, while Freda Rebecca and Jena Mine have 800 and 703 employees, respectively, all of which were taken on board in the past year.
Overall, it plans to employ 20 000 in the short to medium term.
“The number of employees is expected to significantly increase as more mines are brought to operations soon,” said Mr Bronn.
“Kuvimba Mining House’s vision is to create sustainable growth for Zimbabweans through safe and responsible mining.
“This vision is achieved by instilling the following core values, namely integrity, being a good corporate citizen, accountability and fostering good team work.”
The resuscitation of mines, he added, had brought life in Bindura, Shamva and Silobela.
“The social and economic impact that the companies have in the respective areas where they are located cannot be overstated,” he said.
“Kuvimba has an approved plan to roll out an extensive exploration programme to explore the non-operating gold assets in order to determine the viability of recommissioning them.
“This is expected to be rolled out in the second half of 2021. Collectively, these non-operating mines, which have been neglected for a while, have the potential to produce in the excess of 1 200kg of gold per year and employ more thousands of people.”
At BNC, Kuvimba has finished the shaft deepening process, which allows the firm to extend mine life by seven years, while Zim Alloys is now out of judicial management.
All Zim Alloys creditors have been paid and production is expected to start before September this year.
The Government holds 65 percent in Kuvimba, while local and international investors hold the remainder.
This week, the company is expected to declare a dividend after posting impressive results in the last financial year.
Kuvimba’s shareholding has been structured in a way that benefits about five special interest groups identified by the Government, and these include the youths, women and war veterans, depositors and pensioners who suffered losses during the currency reforms of 2019.