Namib Minerals to Restart Redwing Gold Mine in Zimbabwe

Namib Minerals has announced plans to restart operations at the Redwing gold mine in Zimbabwe in February, marking a significant milestone in its broader $300 million investment program in the country. The decision reflects renewed confidence in Zimbabwe’s gold sector, driven by record bullion prices and an improving fiscal policy environment that is encouraging miners to revive long-idled assets.

Redwing, the largest asset in Namib Minerals’ Zimbabwe portfolio, hosts an estimated 2.5 million ounces of gold and is expected to produce around 300,000 ounces per year once fully operational. The mine has a long production history, having yielded nearly 2 million ounces since operations began in 1941. Alongside the restart, Namib Minerals plans an extensive exploration campaign aimed at doubling Redwing’s resource base to approximately 5 million ounces, extending mine life and strengthening the project’s long-term economics.

The restart at Redwing forms part of a wider strategy to unlock value across the company’s Zimbabwean assets. Another key operation, the Mazowe mine, produced about 1.36 million ounces of gold before being mothballed, and could also benefit from renewed investment as market conditions remain favorable. Strong gold prices have significantly improved project returns, making previously marginal or stalled mines commercially attractive once again.

A critical factor underpinning the renewed momentum is Zimbabwe’s recent policy shift on gold royalties. The government reversed earlier plans to raise royalties to 10 percent, maintaining the rate at 5 percent unless gold prices exceed $5,000 per ounce. This move has been welcomed by major producers, including Caledonia Mining Plc, and has helped restore a degree of fiscal certainty for investors considering long-term capital commitments.

Looking ahead, the restart of Redwing highlights how supportive policy adjustments, combined with strong commodity prices, can catalyze investment across Africa’s mature mining jurisdictions. For Zimbabwe, renewed activity at large gold mines has the potential to boost output, employment, and foreign currency earnings. If policy stability is sustained, the revival of projects like Redwing could signal a broader recovery for the country’s gold industry and reinforce mining’s role as a cornerstone of economic growth.

Mini-Glossary

• Mothballed: Temporarily closed while maintaining the site so it can be restarted in the future.
• Bullion: Gold traded in bulk form, usually as bars, valued by weight and purity.
• Resource base: The estimated quantity of economically recoverable mineral within a deposit.
• Royalty: A payment made to the state based on a percentage of mineral production or revenue.
• Exploration program: Drilling and geological studies aimed at identifying and expanding mineral resources.

Editor: Vural Burç ÇAKIR