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Once at full-tilt, the open-pit operation is expected to generate 65,000 ounces of gold annually over an 8-year mine life.

Two new claims were staked to cover known copper showings that are interpreted to have potential to host sedimentary-hosted copper mineralization similar to that at Transition's Janice Lake.

The project will enable Newmont Goldcorp to continue advancing its vision to create mine 4.0— an interconnected mine of the future.  

Gold deliveries to central bank unit Fidelity Printers and Refiners, which buys all the country's gold, declined to 6.5 tonnes from 7.3 tonnes during the January-March quarter.

The collateral for African Export-Import Bank’s $500 million loan to Zimbabwe is a mine that Great Dyke Investments, a venture between Russian investors and the Zimbabwean military, plans to build at a cost of $4 billion.

According to the Vancouver-based miner, there are low exploration and development costs associated with the project.