Kuvimba Mining House, one of Zimbabwe’s leading mining companies, is looking to raise $950 million to expand its gold and lithium production, CEO Trevor Barnard announced at a mining conference in Victoria Falls.
“First and foremost, we need funding,” Barnard said. “We require a significant amount of capital to make our businesses work.”
He did not reveal the potential investors involved in the fundraising effort or the timeline for securing the financing.
Kuvimba owns some of Zimbabwe’s oldest and most prominent gold mines, including Freda Rebecca and Shamva.
The company also has lithium mining operations and has previously expressed interest in securing funds to develop a new platinum-group metals (PGM) mine.
However, the company has faced financial hurdles. Its subsidiary, Bindura Nickel Corporation, was placed under administration last year after failing to secure the capital needed to resume operations following an underground equipment failure in September that brought mining to a halt.
The new funding initiative is seen as crucial to reviving and scaling up Kuvimba’s mining activities amid Zimbabwe’s broader ambitions to strengthen its position in global battery and precious metal markets.
