Ran Mine reopening set for next month

By Tapiwa Machemedze

Bindura’s Ran Mine is set to be reopened next month, in a move expected to boost gold mining revenue and generate employment.

Installation of power, water, road infrastructure and civil works are now complete at Bindura’s Ran Mine, paving way for production to commence next month.

In a trading update, management indicated setting up of the mine plant is more than 60 percent complete with full production expected next month.

Economist Conwell Muzhanye is convinced re-opening of closed mines is critical in the nation’s drive to ramp up mineral production.

“The resuscitation of Ran Mine is a significant achievement as over 100 jobs will be created by year end, while foreign currency inflows to the country will increase. As you may be aware, the Gross Domestic Product of Mashonaland Central province was ranked number 9 last year, so investment is critical to push up its economic contribution to fiscus,” said Muzhanye.

Shareholders invested an initial US$2.5 million in capital expenditure to resuscitate the mine at a time government is targeting a US$12 billion mining industry by 2023.