Mutapa Investment Fund Seeks $250 Million to Expand Zimbabwe Gold Mining
Updated
Updated · Bloomberg · May 11
Mutapa Investment Fund Seeks $250 Million to Expand Zimbabwe Gold Mining
3 articles · Updated · Bloomberg · May 11
$250 million is the amount Zimbabwe’s state-owned Mutapa Investment Fund says it needs to expand gold mining operations nationwide and raise output.
Negotiations with local lenders have already started, according to deputy chief investment officer Ernest Denhere, indicating the fund is pursuing domestic financing for the push.
The expansion would run through Mutapa Gold Resources Ltd., the fund’s mining unit, tying the fundraising directly to Zimbabwe’s effort to increase gold production.
Can Zimbabwe's cash-poor fund convince local banks to finance its ambitious gold expansion, despite the high risks of state-linked debt?
As Zimbabwe's state fund expands mining, can it avoid the corruption and abuses that plague the country's gold sector?
Is Zimbabwe's gold expansion a local project or a strategic play in the global financial shift away from the US dollar?