Russian company to prospect for gold in Mazowe

Russian company to prospect for gold in Mazowe

By Chipo Musoko, HARARE, September 6 (The Source) – Monita Minerals, a joint venture  between Russian and local investors will next month begin exploration of alluvial gold in Mazowe once an environmental impact assessment has been completed, a company official said on Friday.

The project coordinator, Sergey Vikhrov of  Zarubezhgeologia, a Russian government geological firm told The Source that a preliminary survey would commence in two weeks.

“We will do preliminary exploration  of the area to find out whether there is enough gold for industrial mining and if we find some interesting areas then we will start a more detailed exploration,” he said.

He said Monita Minerals had been given a special grant to conduct exploration work on 110 000 hectares of land on the Mazowe River Valley.

Vikhrov would not disclose the amount the investors were planning to inject into the project but said the initial exploration could cost between $40 000 and $80 000.

“We need to establish bankable reserves which can be used to secure a bank loan,” he said.

Vikhrov said the exploration work could take more than two years depending on the discoveries.

“We know the area we are working and we hope that our results will be positive,” he said.

Zarubezhgeologia has been involved in exploration work in the country for almost two decades, conducting exploration activities for alluvial gold and diamonds among other minerals.

The company which was established 60 years ago, has also worked in 53 countries worldwide including Angola, Algiers ,Ethiopia,  Ghana, India, Mozambique and Pakistan.