Kuvimba’s gold cluster records US$300m revenue in F25 amid production boom
HARARE — Kuvimba Mining House’s gold mining segment reported a robust performance for the fiscal year ending March 31, 2025, with total revenue reaching approximately US$300 million, representing a 46.3% increase from US$205 million in the prior year. The surge in revenue was driven by higher production volumes and improved ore grades.
During this period, the KMH Gold Cluster produced a total of 3,600 kilograms of gold, up from 3,200 kilograms the previous year. The Freda Rebecca and Shamva mines registered notable growth in output, while Jena Mine’s production remained steady. Freda Rebecca produced 2,461 kg, up from 2,229 kg the previous year. Shamva Mine produced nearly 800 kg in the year to March 2025.
Gold cluster chairman. Patrick Shayawabaya said, “’having had an excellent production performance, we were fortunate that the gold price from the beginning of the financial year to March was always on an upward trajectory. So, the fact that we were able to maximize production meant that we were also able to leverage a very positive gold price.”
Looking ahead, the company has outlined a comprehensive capital expenditure plan totaling US$54 million. The investment aims to facilitate exploration activities, as well as upgrades to processing plants and mining equipment across its operations.
Key initiatives include drilling 37,000 meters across the three mines and leveraging resource estimates of approximately 40 million tonnes, with the objective of unlocking nearly two million ounces of gold in the long term.
Despite this significant investment, the company foresees maintaining current production levels of approximately 3,600 kilograms in the upcoming financial year, focusing on laying the groundwork for sustainable growth and operational efficiency. The capital programme will be funded through a combination of internal cash flows and external financing, including potential loans, with the strategic emphasis on replacing aging equipment and expanding operational capacity.
Shayawabaya emphasised the importance of these initiatives, noting that the company’s focus remains on executing planned upgrades and exploration activities to ensure continued growth and profitability in the future.ofinx
