Eswatini gold mine revived after 50 years of inactivity
By the AFREEQUE newsroom, based on Times of Eswatini
A local Eswatini company has obtained a 20-year licence to revive the former Pigg’s Peak gold mine, which has been inactive for more than 50 years. III R.M.M.B. plans to reprocess old mine deposits and rehabilitate underground workings, according to the Times of Eswatini.
III R.M.M.B (Pty) Ltd, a company registered in Eswatini, has obtained a 20-year licence to revive the former Pigg’s Peak gold mine, which has been inactive for more than 50 years. Its Legal and Compliance Officer, Vilimile Gumede, presented the project to residents at a meeting devoted to the environmental impact assessment, according to the Times of Eswatini.
The project involves reprocessing old mine deposits, rehabilitating underground workings and then extracting gold from the site. III R.M.M.B plans to work with Prometheus Mining and Exploration and a consortium tasked with operating a carbon-in-leach processing plant, a process that uses cyanide and activated carbon to recover gold.
Gumede said the capital structure was to comply with a formula set out in the 2011 mining law: 50% for the company, 25% for the Treasury and 25% held by the Ingwenyama in Trust for the nation. State representatives have yet to be included in the shareholding. Residents also questioned the company about its mining experience and its ability to maintain operations over the long term.
