Zambia’s second largest gold mine, Mwinilunga’s Kasenseli gold mine whose operations were suspended following the change of government has now had the suspension lifted. The mine management is now free open the gold mine after they fulfill some set conditions by the ministry of mines.
Director of Mines at the Ministry of Mines and Minerals Development Fred Banda has disclosed that the suspension of operations at Kasenseli gold mine has been lifted but could not state the targeted date when the mine would resume operations.
Kasenseli Gold Mine operations were suspended following a ministerial directive by the Minister of Mines Paul Kabuswe. Kabuswe when suspending operations at Zambia’s second largest gold mine (second to FQM’s Kansanshi Mine) sighted concerns relating to mining license conditions as well as safety regulations among other concerns.
Speaking in an exclusive interview with the Zambian Business Times – ZBT, Ministry of mines and Minerals development Director of Mines Fred Banda disclosed that the suspension has been lifted but was quick to mention that there are a number of conditions that have to be fulfilled before the actual operations can resume.
The Mines Director however told ZBT that the actual gold mining and production will only commence once the mining firm – Zambia gold company – has fulfilled all the conditions that have been given to them and that Zambia Gold Company was in a better position to state when they project they could fulfill the conditions set and when exactly the mine would open.
The Zambia Gold Company, a subsidiary of ZCCM IH started its official gold mining operations at Kasenseli in June 2020, was opened with great anticipation and hope for the Zambian economy as the huge gold reserves held were believed to be large enough for the set up of a huge gold reserve that could provide a viable alternative to holding of US dollar reserves.
However, the mine operations and gold production has now been shut for about half a year, depriving the country of the opportunity to aggressively build up its gold reserves. The Bank of Zambia was left to rely on gold supplies from the privately held Kansanshi Copper and gold Mine.
