Tafadzwa Nyikadzino

The Chief Executive Officer of Mutapa Gold Resources, Patrick Maseva-Shayawabaya, says the company is open to government oversight as it operates transparently to boost economic growth.

Maseva-Shayawabaya made the remarks after meeting with Parliament’s Public Accounts Committee (PAC) at Freda Rebecca Gold Mine, the company’s main gold producer. The meeting aimed to give Parliament a clear picture of the company’s operations.

“We are part of Mutapa Investment Fund, which is accountable to the government and Parliament. We have nothing to hide, so we’re not afraid of oversight from Parliament,” Maseva-Shayawabaya said.

He added that the company will provide all the information requested by Parliament.

PAC chairperson Caston Matewu said the committee was impressed with the company’s plan to increase gold production by 2028.

“The company’s plan is impressive. They are looking to increase gold output by 2028, and they seem to have a strategy to do so. As Parliament, we are happy with their approach,” Matewu said.

Matewu emphasized the importance of gold production in boosting the economy.

“Gold is a key economic driver. We want to see more gold produced, which will have a positive impact on the economy,” he said.

Mutapa Investment Fund’s deputy Chief Investments Officer Ernest Denhere said the company has set aside over $12 million for exploration to extend the lifespan of gold operations to 10 years.

“For 2026, we have allocated over $12 million for exploration across Mutapa Gold Resources entities, aiming for a 10-year life of mine for each operation,” Denhere said.

He added that the company will focus on processing and adding value to minerals locally.