Namib Minerals to invest in reviving Zimbabwe gold mines
Namib Minerals has unveiled plans to inject $300 million into reviving two dormant gold mines in Zimbabwe, signalling renewed investor confidence in the country’s mining sector. The investment, disclosed by CEO Ibrahima Tall in an interview with Reuters, targets the Mazowe and Redwing mines, which have remained inactive since 2018 and 2019 respectively due to prior economic instability.
The company aims to leverage favourable gold prices and Zimbabwe’s improving investment climate. “Interest from investors on Nasdaq has been very good,” said Tall, referring to Namib Minerals’ recent listing in June 2025, following a merger that provided a platform to tap into global capital markets.
Namib Minerals
The Mazowe mine, situated north of Harare, holds an estimated 1.2 million ounces (moz) of gold at a high-grade average of 8.4 grams per tonne (g/t). Meanwhile, Redwing, located near the Mozambique border, is reported to contain 2.5moz at a grade of 3.07g/t.
Namib Minerals currently operates the How Mine near Bulawayo, which yielded 37,000 ounces of gold in 2024 marking a 9% year-on-year increase. Subject to successful capital mobilisation, production at the Mazowe and Redwing sites could resume within 18 to 24 months. The move aligns with a broader resurgence in Zimbabwe’s gold mining sector, with firms like Caledonia Mining exploring major expansion projects.
Zimbabwe, Africa’s third-largest gold producer, has been actively reforming its mining regulations and recently announced a ban on the export of unprocessed lithium concentrates from 2027, aiming to promote local value addition across key mineral sectors.
