Zimbabwe sovereign wealth fund seeks $250M to boost gold output

Mining.com2026/05/11 14:39

By:Mining.com

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Zimbabwe’s state-owned sovereign wealth fund, Mutapa Investment Fund Ltd., needs $250 million to expand its gold mining operations across the country.

var rnd = window.rnd || Math.floor(Math.random() * 10e6); var pid472436 = window.pid472436 || rnd; var plc472436 = window.plc472436 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=181210;size=0x0;setID=472436;type=js;sw=' + screen.width + ';sh=' + screen.height + ';spr=' + window.devicePixelRatio + ';kw=' + abkw + ';pid=' + pid472436+ ';place=' + (plc472436++) + ';rnd=' + rnd + ';click=CLICK_MACRO_PLACEHOLDER'; document.write('

');

Ernest Denhere, deputy chief investment officer, said negotiations with local lenders have already begun. The fund owns Mutapa Gold Resources Ltd.

“We are currently working on a $75 million local debt syndication as a start,” he told lawmakers in Bindura. “In the month of March, we achieved a record production of 340 kilograms and we are projecting to producing 570 kilograms from 2028.”

Last year, Mutapa produced 3.6 tons of gold; output has slipped to 3.3 tons this year, all of which is sold to the state refiner, Fidelity Gold Refinery.

Denhere didn’t disclose the names of the entities engaged for the capital-raising initiative. Mutapa Gold Resources holds five claims across the country, covering about 52,000 hectares.

In December, Mutapa Investment Fund restructured its mining entity, Kuvimba Mining House, in a bid to improve efficiency. The clusters are: Mutapa Gold Resources, Mutapa Base Metals Ltd., Mutapa Energy Minerals Ltd., Mutapa Platinum Group and Mutapa Frontier.

(By Godfrey Marawanyika)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

1. U.S. equities gained over the week, while crypto assets declined, reflecting a divergence in risk appetite. From October 3 to 9, the S&P 500 rose 1.15% and the Nasdaq 100 gained 0.24%, while BTC, ETH, and SOL fell 2.31%, 6.84%, and 7.99%, respectively. The U.S. Dollar Index advanced 0.27%, and although the 10-year U.S. Treasury yield declined 3.3 basis points, it remained elevated at 5.244%. High funding costs therefore continued to weigh on risk asset valuations. 2. Weak employment data have not eliminated inflation concerns, while AI and on-chain finance face growing scrutiny over commercial viability. September nonfarm payrolls increased by just 29,000, yet the minutes of the Federal Reserve's September meeting still pointed to the possibility of further rate hikes before year-end. This week's CPI release and major bank earnings will provide important tests of growth and inflation pressures. Revenue recognition and reporting practices in AI, underlying asset rights in RWA, and operating costs for Layer 2 networks are also becoming increasingly important measures of commercial viability. 3. Bitget has completed its phased service restoration, while the Bitget Alliance Program continues to support clients' trading and capital management needs. We completed the planned restoration on October 2 and replenished the Protection Fund to more than $300 million on September 30. According to DefiLlama, assets tracked on the platform rebounded from approximately $5.647 billion on October 1 to $6.223 billion on October 11. This report also outlines VIP level protection, user rewards, and institutional fee incentives to help high-value clients plan their trading activities according to their account type. Assets to watch: BTC, ETH, SOL, SUI, PUMP, gold, JPM, BAC, and ASML. Key areas of focus this week: The October 14 U.S. CPI release; bank net interest income and credit costs; AI cash flow generation; and post-recovery trends in assets held on Bitget, settlement efficiency, and trading conditions. Market data are current through October 9 or the latest local trading day. Official announcements and promotion terms were reviewed through October 12.

Bitget•2026/10/13 07:46