Namib Minerals to Invest as Much as $400 Million in Zimbabwe

Namib Minerals Ltd. plans to invest as much as $400 million in reviving two gold mining ventures in Zimbabwe over the next five years.

The company is restarting the Redwing and Mazowe mines, which jointly hold 3.7 million ounces of gold, Namib Minerals Chief Executive Officer Ibrahima Sory Tall said Tuesday in an emailed statement. The two mines were under care and maintenance between 2019 and 2020.