Metallon restructured into stand alone mining entities

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ZIMBABWE’s largest gold producer, Metallon, has restructured the business by collapsing the group structure into independent mining units with separate executive management and boards, as part of efforts to increase efficiency.

Metallon said the restructuring of operations was part of a strategy to increase efficiencies, through eliminating bureaucracy, and meet its growth targets.

“As part of this restructuring exercise, each of Metallon’s four operating mines will now operate as separate entities. By making the mines standalone operations, Metallon will increase efficiency and allow each mine to manage its own assets and operations more effectively,” Metallon said.

Metallon Corporation runs four hold mines, namely How Mine, Mazowe, Redwing and Shamva. Each of the mines is now operating under separately registered companies, namely Bulawayo Mining Company, Goldfields of Mazowe, King’s Daughter Mining Company and Goldfields of Shamva, respectively.

Metallon, owned by South African magnate Mzi Khumalo, said the companies will have own boards and management assuming all responsibilities over operations and suppliers, thereby reducing bureaucracy and bringing renewed focus across the Group. New managing directors have been appointed to run the operations.

Chief executive officer, Ken Mekani, said  as Zimbabwe’s leading gold producer, Metallon had a duty to invest in production to help meet national gold output targets. Metallon has an ambitious plan to increase gold production.

“As part of that plan, we had a thorough evaluation of our structure and operations. One of our key findings was that in order for us to efficiently exploit our assets in the future, we require each mine to focus clearly on managing their own operations.

“Reorganising the Group will allow each operation to manage and exploit the vast potential of our assets more efficiently. By empowering each mine, we are making the company stronger as a whole,” he said.

Metallon’s four gold mining operations and has a world class gold resource of over 8,3 million ounces.

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