Mutupa Gold Resources CEO outlines expansion strategy at Zimbabwe Mining Indaba dinner in Cape Town

At a Zimbabwe Mining Indaba Symposium dinner hosted at the Cape Sun Hotel, Mutupa Gold Resources CEO Trevor Bernard presented the company’s production outlook and investment roadmap, emphasising cost discipline, operational expansion, and long-term sector resilience.

Addressing invited guests and investors, Bernard cautioned that while gold prices remain elevated, commodity markets are cyclical and unlikely to sustain peak levels indefinitely. He stressed that the company’s strategy is therefore centred on designing and operating mines at the lowest sustainable cost base, ensuring profitability even during periods of price weakness. According to Bernard, operational efficiency and strict cost control remain fundamental to the company’s long-term viability.

A major focus of the presentation was the planned expansion of the Jena Mine, currently producing roughly 30 kilograms of gold per month. The company intends to significantly scale the operation through construction of a new processing plant and the development of an open-cast mining section.

Although the geological structure at Jena differs from that of the company’s other operations, Bernard noted that the deposit benefits from relatively high grades averaging about 2.5 grams per tonne. In an open-cast configuration, such grades support comparatively low-cost extraction while enabling meaningful production volumes. Once expansion is completed, the mine is expected to deliver approximately 80,000 ounces of gold annually.

Bernard further indicated that, when combined with existing output and other pipeline developments, Mutupa Gold Resources is targeting a tripling of total production within three to four years. Annual production is projected to increase from around 115,000 ounces to more than 300,000 ounces. Additional asset development beyond this phase is expected to support continued growth over the next five to ten years.

He explained that the company’s implementation model prioritises large-scale, low-cost mining operations capable of remaining sustainable through commodity price fluctuations. The strategy also includes a strong commitment to supporting local Zimbabwean contractors and suppliers, leveraging the country’s established mining expertise and technical workforce.

Concluding his remarks, Bernard described the company’s growth path as grounded in disciplined capital deployment, scalable project development, and local economic participation, expressing confidence in the medium- to long-term expansion prospects of the business.