Kudzanai Gerede, Companies and Market Editor 
MUTAPA Gold Resources exceeded its gold production targets in the first half of 2026 after delivering 1 836 kilograms, placing the miner on course to meet its annual output goal, its chief executive Patrick Maseva-Shayawabaya has said.
The figures were disclosed during Mines and Mining Development Minister Polite Kambamura’s tour of Mutapa Gold Resources’ Freda Rebecca mine in Bindura this week, where management outlined the group’s expansion plans and operational performance.
Maseva-Shayawabaya said the company’s output had surpassed budgeted levels in both the first and second quarters, buoyed by improved operational efficiencies across its mining assets.
“Operationally, since December, we have exceeded our expectations in terms of production. For the first quarter to March 2026, we achieved 921kg of gold. For the second quarter, end of June 2026, we achieved 925kg of gold,” he said.
“So, in total for the half year, we achieved 1 836kg of gold. It exceeded our budget. And it set us well for achieving a budget of 3 400kg for the 12 months to December.”
Maseva-Shayawabaya said comparisons with previous years were complicated by the company’s decision to change its financial year-end from March to December.
The strong production performance comes as the State-owned miner accelerates expansion projects aimed at nearly doubling monthly output over the next 18 months.
To support the programme, a syndicate of local banks has pledged US$125 million towards expansion works at Shamva and Jena mines.
“We got local funding from a syndicate of local banks. They have pledged US$125 million to our expansion project at Shamva and Jena,” Maseva-Shayawabaya said.
The funding will enable the company to begin work at the two mines while it explores additional financing options from international investors.
Speaking after touring the operations, Kambamura welcomed Mutapa’s restructuring into specific resource business units, saying the move had improved efficiency and productivity.
The minister said the company was targeting an increase in gold output from the current 300kg to 310kg per month to between 570kg and 600kg by the end of this year.
He said expansion at Shamva Gold Mine, including the development of a new open pit, would lift production significantly, while Jena Mine was also expected to raise output.
“I would like to urge other operations also to follow suit by increasing their production considering that our currency is backed by gold. So every gram, every kg that is mined will speak volumes towards our goal of improving our gold reserves with the Reserve Bank of Zimbabwe.” Kambamura said.
