SMM10, 23 / PRNewswire-Asianet /-- Mining company Caledonia Mining is considering the acquisition of Zimbabwe's largest gold mine, the Isabella-McCays-Bubi mine, which is located in the northernmost tip of Zimbabwe and is owned by Bilboes Gold Ltd. hold.
At present, Caledonia Mining plans to hold more assets in Zimbabwe.
According to Bilboes Gold Ltd. Victor Gapare, the chief executive, said he was indeed looking for investors, but had not yet held talks with Caledonia Mining.
The Isabella-McCays-Bubi mine, which can produce more than 200000 ounces of gold and has been in operation for more than 10 years, is expected to be the largest mine in Zimbabwe.
Through the deal, Caledonia could increase its production more than eightfold to 500000 ounces a year, and is considering investing $400m in Zimbabwe over the next decade, according to people familiar with the matter.
