$30M Zimbabwe Gold Mine Approved

Jan. 07, 2014 01:48PM PST

AllAfrica.com reported that Wonder Bay Company has received approval to open a medium sized gold mine in Hope Fountain, about 85 kilometres north of Bulawayo at a cost of US$30 million.

AllAfrica.com reported that Wonder Bay Company has received approval to open a medium sized gold mine in Hope Fountain, about 85 kilometres north of Bulawayo at a cost of US$30 million. WBC is controlled by Zimbabweans with 57 percent shareholding while South Africans own the remainder.

As quoted in the market news:

According to sources, the project is expected to commence during the first half of this year.
“The investment would be staggered in three phases with US$5 million expected to be injected in the first year, about US$8 million in the second year and US$16 million in the third year.

Read the full story on AllAfrica.com

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