SHAMVA Mine, a subsidiary of state-controlled Kuvimba Mining House (KMH) is riding on the soaring international gold prices to generate free cash flows to fund capital projects for expansion.
International gold prices have increased by around 23 percent year-on-year to current highs of US$ 2 386 per ounce (oz) from averages of US$1 930/oz in July last year.
Prices have been driven by a multitude of factors including heightened geopolitical risks and uncertainty in the global economy- prompting hedging tendencies in gold among investors.