Shanjin International, which acquired Osino Resources, will not bring Chinese companies to develop the Twin Hills Gold project.
Formerly known as Yintai, Shanjin International has officially taken over Osino Resources’ assets, including the Twin Hills Gold and Ondundu Gold projects.
The new CEO, Tony Zhang, says Shanjin International wants to establish a third gold mine in the country.
“We are in the process of appointing different contractors in terms of mining and building, construction time,” said Zhang.
He said developing the gold mine with a 2027 target production will take about two years. Zhang said the company plans to explore all the EPLs owned by Osino.
Osino is expected to employ 1000 people during construction and about 600 and 800 when the mine goes into production.
“We do not intend to bring Chinese companies to build this mine. We are an international company, so we have to go through a tendering process. We will go by the best price, whether it is a Namibian, South African, or Chinese company. We want this production to be as local as possible,” Zhang said.
