Eureka injects additional US$26m in capex

ONE of Zimbabwe’s gold mines under resuscitation, Eureka will have an additional US$26,3 million capital expenditure injected before completion of the rehabilitation project mid year.

Last year, shareholders of the mine, Dallaglio Investments announced that extensive exploration works at Eureka Gold Mine, which is situated in Guruve district, Mashonaland Central province, have confirmed resource worth over US$1 billion.

In a trading update for the third quarter ended September 30, 2020, Padenga Holdings Limited, which has acquired Dallaglio Investments said:
“Dallaglio’s capital expenditure for the period under review was focused on the rehabilitation project at Delta’s Gold’s Eureka Mine in Guruve.

“In the nine months to September 30, 2020, a total of US$15,189 million was spent on this project.

“This is additional to the US$7,886 million spent in 2029 bringing total project cost to date to US$23,075 million.

“A further US$26,3 million is budgeted to be spent on this project before commissioning.” – chronicle.cl.zw