Harare — May 26, 2026 — The Dokwe Gold Project in Zimbabwe is now expected to cost $164 million, according to an updated prefeasibility study released by Ariana Resources. The British mining company raised its construction estimate from the previous $82 million outlined in 2022, reflecting expanded development plans and higher technical specifications.
Once operational, the future mine could produce up to 100,000 ounces of gold annually, positioning Dokwe as a major industrial asset in Zimbabwe’s mining sector. The project’s financing will support the construction of a processing plant capable of treating 2.5 million tons of ore per year, with an initial 12‑year mining phase expected to yield an average of 80,000 ounces annually.
Ariana Resources projects an after‑tax net present value of $740 million and an internal rate of return of 92%, based on a consensus gold price of $4,250 per ounce. The company anticipates recovering its investment within one year of production start‑up.
A definitive feasibility study is scheduled for early 2027 to refine economic parameters and finalize technical details. Exploration work continues to expand Dokwe’s resource base and convert additional deposits into mineable reserves.
The project’s development will depend on securing mining permits from Zimbabwean authorities, but it is already seen as a key addition to the country’s industrial gold production landscape — complementing other emerging projects such as the Bilboes Mine by Caledonia Mining.
