KMH in impressive gold show

MOSES MATENGA

MINING giant Kuvimba Mining House (KMH) gold cluster comprising Fredda Rebecca Gold Mine, Shamva Gold Mine and Jena Mines produced 3 605kgs of gold generating over US$300mn in the financial year ending March 2025, the company has said describing achievement as impressive.

The company head of the gold cluster Patrick Maseva-Shayawabaya presented the results this Wednesday saying this achievement indicates success of the miner’s hybrid operating model in a period of rise in gold prices.

“We consider this an excellent performance,” Maseva-Shayawabaya said.

“We are pleased with the results, given the numerous challenges faced.

He said the achievement reflects the collective effort of our management teams, workers, and business partners.

“Compounding this success, the gold price followed an upward trajectory throughout the financial year, allowing us to maximise revenue. Consequently, the cluster’s revenue reached just under US$300 million, up from US$205 million the previous year,” he said.

On production, monthly output averaged 205kg for Freda Rebecca, 65 to 70kg for Shamva, and 30kg for Jena, totalling 300kg per month on average.

In total, the company produced 3 605kg of gold, up from 3 246kg the previous year.

Cash costs rose by 6%, partly due to higher production.

However, Maseva-Shayawabaya said cash cost per ounce decreased from US$1 490 to US$1 421, though “we aim to reduce this further to US$1 300 in the current year.”

The company allocated US$18 million to capital expenditure.

He said the tailings storage facility, previously their top risk, is nearing completion by end-June.

Other expenditures included US$1,7 million for Shamva’s capital development and waste stripping, and US$500 000 for Jena’s minimal capex.

Regarding employment, Maseva-Shayawabaya said the three companies directly employ 2 600 people.

Subcontracted companies employ a further 1 200 people, bringing the total number reliant on the KMH gold cluster for employment and livelihoods to 3 800.

Of the 2 600 directly employed by the KMH gold cluster, 6% are women.

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