Kadoma Mining PLC Debuts on London Market, Tapping...

Kadoma Mining PLC Debuts on London Market, Tapping into Zimbabwe’s Gold Boom

Heap leaching gold extraction process - News

Audrey Galawu-Assistant Editor

Kadoma Mining PLC, a London-based gold producer with operations in Zimbabwe, has begun trading on JP Jenkins, a matched bargain platform in London, as it seeks to capitalize on the country’s surging gold output.

The company’s shares opened at 6.00 pence on Friday, giving it an initial market capitalization of £6.8 million (approx. US$8.7 million).

Kadoma Mining operates the Blue Duck Mine in Zimbabwe’s prolific Chegutu Greenstone Belt, a region known for high-grade gold deposits.

The listing comes as Zimbabwe’s gold production continues to rise, with the country recording 30.1 tonnes of gold output in 2023, up from 27.6 tonnes in 2022, according to official figures. The government has set an ambitious target of 40 tonnes for 2024, backed by increased investment in both large-scale and artisanal mining.

Kadoma’s debut provides international investors with direct exposure to Zimbabwe’s gold sector.

Kadoma Mining has positioned itself as a responsible operator, emphasizing ethically sourced gold and rigorous environmental compliance—a key selling point for ESG-conscious investors.

Early trading activity suggests cautious investor interest, with analysts watching whether Kadoma can scale production amid Zimbabwe’s foreign currency retention policies and power supply challenges.

The government recently announced plans to increase gold contribution to GDP, with the sector already accounting for a significant percentage of Zimbabwe’s export earnings.