GURUVE-based Eureka Gold Mine has extended its operational life by seven years to 2039 following successful exploration work, reinforcing its position as one of Zimbabwe’s leading gold producers.
The mine, whose initial operational life was expected to end in 2032, has steadily upgraded its resource base through intensified geological exploration and plant optimisation.
Ongoing exploration, according to Eureka, indicates further upside beyond the revised mine plan, including a potential transition from open-pit to underground mining.
Eureka’s extended mine life reflects a broader trend within Zimbabwe’s gold sector, where rising international prices and renewed investment in exploration are improving the viability of existing operations.
Zimbabwe Electricity Transmission and Distribution Company (ZETDC)
Gold remains a strategically important mineral for Zimbabwe, as it is the country’s single largest export, while the sector employs thousands across both large-scale and small-scale operations. Zimbabwe has already surpassed its annual gold production target for 2025, achieving the milestone with two months of the year still remaining and delivering a significant boost to foreign currency earnings.
Production of the “yellow metal” surged by 29 percent for the 10 months ending October 2025, reaching 41,8 tonnes compared to 32,4 tonnes during the same period last year.
The mine’s current open-pit operations have benefitted from improved resource definition and efficiencies across its processing plant, enabling higher volumes to be economically processed.
In an interview during a mine tour, Eureka Gold Mine general manager, Engineer Nelson Banda, said 2025 marked the start of a targeted exploration programme aimed at fully understanding the scale and depth of the orebody. He said early indications suggest the resource may support mining beyond 2039.
“When we started, we were looking at a relatively short life up to 2032, but since then, we have invested heavily in understanding the resources and optimising our plants. It’s an open-pit mine.
“We have managed to extend that life to 2039, which is quite significant. Beyond that, we embarked on an exploration programme this year to understand the extent of the resource, and there is potential to go underground beyond 2039,” said Engineer Banda.
In terms of production, he said the mine expects to reach the two-tonne mark, a significant contribution to the projected national bullion total.
“Our resource has continued to grow. We are now approaching 2 000 kilogrammes from around 1 600 kilogrammes when we started. The gold price has also assisted us significantly. When operations began, prices were around US$1 600 an ounce, and today they are above US$4 000 an ounce, which has materially strengthened project economics.”
Eureka ranks among the top three corporate gold producers in Zimbabwe by volume, placing it in a strategic position within the country’s mining industry.
The extended mine life is expected to support employment, increased gold output and improved revenue generation at a time when mining remains a key pillar of Zimbabwe’s economic growth and foreign currency earnings.
Engineer Banda said Eureka Gold Mine’s extension of its life of mine to 2039 is being complemented by significant investment in energy security, as the operation moves to reduce reliance on the national grid amid persistent power supply challenges.
He noted that, like many industrial operations, power supply reliability remains one of its challenges. To mitigate this, Eureka is working closely with the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to ensure consistent electricity for plant operations, while simultaneously developing alternative energy sources.
“Security of power supply is something we monitor closely. We have engaged ZETDC to ensure we are guaranteed the power we require to run our plant operations,” he said.
As part of its energy diversification strategy, the company has initiated a five-megawatt solar power project near the mine, with construction already underway. The project is expected to reduce the mine’s dependence on grid electricity, with a target of covering all daytime power requirements by next year.
“By January, we expect the first power to start flowing, scaling up to about five megawatts by mid-year. Ultimately, our operations require approximately 10 megawatts, and we are confident we will be on track to meet that demand.”
In addition to renewable energy investments, Eureka said it is engaging with industry counterparts to explore direct power imports as a complementary solution. The initiative aims to ease pressure on ZETDC while ensuring uninterrupted production at the mine.
The combined strategy of extending mine life, growing resources, and securing reliable energy is expected to enhance Eureka’s long-term sustainability, reinforce its standing among Zimbabwe’s top gold producers, and support consistent output in an environment of rising global gold prices.-herald
