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Mupane Gold Mine goes on sale

Friday, April 18, 2025 | 1970 Views |

Under the hammer: Mupane closed last year and is due for auction in June

The country’s troubled sole gold mine, Mupane Gold Mine, is up for sale, with an auction due where bidders should submit their offers by June 13, including refundable deposits of P1 million.

Mupane's sale comes as gold prices trend at record highs due to the metal's status as a safe haven against the disruptions caused by the United States' planned global trade tariffs.

Mupane ceased operations in March 2024, two years after being acquired by citizen majority-led company, Hawks Mining. Reports at the time indicated that the mine was experiencing serious cash flow problems and had retrenched all employees. The Botswana Mineworkers Union (BMWU) estimates that workers are owed P49.1 million in unpaid salaries, terminal benefits, and retrenchment packages.

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