Zimbabwe Economic News: Metallon to Revive Motapa Mine, David Whitehead Set for Partial Re-Opening & Exports to Zambia up 18%

Metallon to Revive Motapa Mine

Metallon Gold Zimbabwe is conducting a feasibility study at its Motapa gold mine in Bubi with the intention of reviving operations there.

The mine closed in 1990. Metallon Gold acquired the Motapa mining lease and 15 additional old claims covering the area from Oleaster Investments in October 2003. The mining group said metallurgical testing on the mine had been completed successfully (the Albion process) and a revival strategy was already in place.

"We successfully tested the ultra-fine grinding metallurgical processing and the target resource base, which will be evaluated through phased drilling, is in excess of one million ounces ofgold"- Herald, Friday May 23

David Whitehead Set For Partial Re-Opening

Textile firm David Whitehead, is on course for partial re-opening with technicians expected to begin maintenance work at the Chegutu and Kadoma factories next week, an official said. David Whitehead was closed down in 2010 as a result of serious financial problems that resulted in the company failing to pay for critical services such as electricity. Then, it was under the provisional judicial management of Winsley Militala who had proposed to liquidate the company after failing to secure an investor to provide working capital. Shareholders and the majority of creditors opposed the liquidation and approved the appointment of Hofisi to preside over the final judicial management of the company- Herald, Friday May 23

Exports to Zambia up 18%

Zimbabwe's exports to Zambia increased by 18.8% to $115.7mln in 2013 from $97.3mln prior year. However, trade facilitation body Zimtrade said the trade gap between the two countries widened to $146.4mln as Zimbabwe imported $262mln more from Zambia during the year. Zambia currently exports foodstuffs - particularly maize, electricity and fertiliser - to Zimbabwe -Daily News, Friday May 23