Freda Rebecca Mines pays dividend to government, shareholders

Bindura Nickel Corporation (BNC) aka Freda Rebecca and Shamva mines has today paid the first ever US$5.2m dividend to its shareholders, as well as to the government.

The mine is now being run by Kuvimba Mining House, with government saying it holds 21% shareholding.

The development of the Freda Rebecca gold mine began in the 1980’s by Cluff Resources through two open-pits (Freda and Rebecca). Oxides are extracted at Freda and Sulphides at Rebecca sections.

The mine poured its first gold in 1988.

The Mine, a subsidiary of Landela Investments was recently licenced to buy gold direct from small scale miners and artisanal miners operating on its 60 000 hectares of gold claims across the country, chiefly in Manicaland and Mashonaland Provinces.

Meanwhile, a split of the US$5.2m dividend is as follows• Sovereign Wealth Fund of Zimbabwe: US$520K • Public Service Pension Fund: US$560K •

The Deposit Protection Corporation got US$400K • IPEC: US$400K • Datvest Nominees: US$1m • National Venture Capital Company: US$600k • Gvt: US$1.720m.

-Zwnews