KMH gold mines record US$300 million revenue, launches exploration project

By Business Correspondent

KUVIMBA Mining House (KMH)’s gold cluster recorded a strong financial year ending March 2025, producing 3,605 kilograms of gold and earning nearly US$300 million in revenue.

This comes as the group embarks on an ambitious exploration programme to extend the lifespan of its key operations.

The company’s gold cluster comprises Freda Rebecca Gold Mine, Shamva Gold Mine, and Jena Mines, making KMV the biggest gold producer in Zimbabwe.

Speaking to journalists at Freda Rebecca Mine in Bindura on Wednesday, the Head of the Gold Cluster, Patrick Maseva Shayawabaya said KMH’s operating approach worked well at a time when gold prices were rising.

“Having had an excellent production performance, we were fortunate that the gold price from the beginning of the financial year in April 2024 was always on an upward trend and we were able to maximise production.

“Consequently, the cluster’s revenue reached just under US$300 million, up from US$205 million the previous year,” Shayawabaya said.

KMH plans to increase the mine life at Freda Rebecca, Jena, and Shamva mines which are currently at four, five, and fifteen years respectively to at least ten years each, in a bid to secure long-term sustainability and maximize national benefit.

“As the KMH Gold Cluster … the three companies in the unit currently have a lifespan ranging from four to 15 years.

“We have embarked on the first leg of an extensive exploration programme this year. We plan to drill a total of 37 000 meters at a cost of US$7 million,” he said.

Although KMH’s immediate focus is on this year’s phase, the exploration programme is intended to be ongoing, underscoring the company’s commitment to Zimbabwe’s gold industry.

Meanwhile KMH, as part of its corporate social responsibility initiatives, has also allocated over US$350,000 focusing on health, education, youth, and community development in its operating areas.

The group has already started extending the maternity ward at Bindura Hospital, which will cater for thousands of mothers and babies from the district.