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Caledonia Mining Corp is exploring options to raise $250 million needed to develop its Bilboes project into what could be Zimbabwe’s biggest gold mine.
Caledonia, backed by investors including Cape Town-based fund manager Allan Gray, is one of a number of mining investors that are searching for new opportunities in Zimbabwe even as the economy buckles from ongoing challenges such as intermittent power cuts, scarcity of U.S. dollars and hyperinflation.
Mason said that while investors were cautious to commit to big mining projects, “our experience has been for quality projects with good returns investors have been supportive.”
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