New alliance formed to develop gold mines in Zimbabwe

Finance

Publishing Date: 03 Feb 2010 1:26pm GMT
Author: Mining Journal

Clarity Capital, a private mining house and a subsidiary of Aveng Ltd, the South African construction company, have formed a strategic alliance to develop mining assets in Zimbabwe.

Clarity’s subsidiary Duration Gold Ltd, already has assets in the Southern African country, while Aveng’s E+PC Engineering & Projects Company Ltd will provide the engineering skills and resources to develop these.

First to be developed will be the Vubachikwe tailings re-processing project. At the same time feasibility studies will be initiated for the expansion of the Vubachikwe mine and the development of two other projects, Athens and Gaika.

“Clarity’s early mover strategy offers us a unique opportunity to further expand our market in Zimbabwe which we see as re-emerging with huge growth potential,” said Mark Berger, E+PC’s director of business development.

E+PC, specialises in engineering, design and project delivery as well as operation and maintenance of metallurgical plants. The company said that a pipeline of additional Duration, plus third-party, projects are also under review.