South African company plans gold processing factory in Manica, Mozambique

3 August 2010

Maputo, Mozambique, 3 Aug – South African mining company Pan African plans soon to build a gold processing factory in Mozambique’s Manica province in an investment of US$80 million, according to a report Tuesday in Mozambican newspaper Notícias.

Pan African is in negotiations to set up a consortium with Delta Trading – a company that also has mining interests in that Mozambican province.

The information was given by Fátima Momade, advisor to the Ministry for Mining Resources and Energy who said that Pan African wanted to mine around 16,000 hectares in Manica province, where it planned to open three gold mines, known as “Fair Bride”, “Dot’s Luck” and “Guy Fawkes.”

The advisor said that Delta Trading had recently concluded a feasibility study for the Monac gold mine, which was granted to it for exploration, and had concluded that the mine could produce over 200 kilos of gold per year.

The real gold potential of Manica is not known but according to specialists some mines could have a lifetime of over 10 years.

“It is said that Manica province is on top of gold. At the moment only artisanal miners are mining there and, altogether they produce between 75 and 100 kilos of gold per year,” said Momade. (macauhub)