TORONTO MINE
Toronto is the second largest gold mine in Manicaland after Redwing mine and the only other 1 Million Oz deposit in the Manicaland region. Located 10km North West of Mutare and encompassing 450 hectares of high grade mineral potential across different orebodies.
Background
Toronto Mine started working in 1906 and was owned by J.H Jeffreys. In February 1912, the Toronto (Rhodesia) Syndicate was formed and raised capital with a shareholding structure among 5 individuals.
In December 1923 the mine was then sold to Gold Fields Rhodesian Development Company Limited who developed the second level of the mine. From 1906 to 1928 the total output was 8,687 Oz of gold from 45,885 tons of ore. In 1933 the claims were transferred to Anglo-American.
In 1987, Anglo transferred the claims to Lonrho. Lonrho subsequently transferred the mine to Metallon Gold in 1997. During all these years the mine has been held as a huge asset with an open ended resource with mining focusing on the high grade ores which were processed onsite & at Redwing Mine.
In January 2023 the claims were transferred to Toronto Mines.
Commercials
Gold Mine and Jiasheng entered strategic joint venture (75/25) to exploit both underground and open pit mineral resources. This collaboration leverages the strengths and expertise of both companies to optimize resource extraction and production. The JV is targeting to produce from 2025 40KGs of gold on a monthly basis.
- Location: Penhalonga District
- Size: 450 hectares
- Products: Gold
- Output: 1410,96 oz per month
- Resource Value: US$ 150 million