Friday, December 9, 2022
 

SA-Based Crypto Company Taps Into Country’s Large Gold Supply

  • Zambesi Gold (ZGD) in South Africa is busy with another mine acquisition.
  • The Eersteling mine will be the second acquisition by the company this year.
  • ZGD’s price has soared from $0.1 to $1.2 in a matter of a few months.

Zambesi Gold, a gold-backed cryptocurrency based in South Africa, is on the verge of acquiring its next gold mine called Eersteling.

Zambesi Gold (ZGD) is in the process of acquiring its next mining operation, called Eerstelling mine – based in Limpopo. In a recent interview, a spokesperson for Zambesi Gold stated that the new acquisition will be completed by the end of this year or early next year and that they are in the final stages of completing the acquisition.

This is the second mining operation that will be added to the company’s list of acquisitions. The first mine that was acquired by the South African company was the Middelvlei gold mine, which is located just 7.5 kilometers from Randfontein.

Several other mines are in the process of being acquired. These mines include the Amalia mine in the North West, a gold mine in Zimbabwe, and another mine in Zambia.

Since the ICO of the token in January this year, the token’s price has risen from $0.1 to its current price of around $1.2, according to the crypto market tracking website, CoinMarketCap.

In related news, a Swedish company by the name of Sandvik has invested R350 million (around $20,475,858 at the current USD/ZAR exchange rate) into South Africa’s mining sector. According to South Africa’s president, Cyril Ramaphosa, the investment is “an important vote of confidence in the country and its mining sector”.

  • Zambesi Gold (ZGD) in South Africa is busy with another mine acquisition.
  • The Eersteling mine will be the second acquisition by the company this year.
  • ZGD’s price has soared from $0.1 to $1.2 in a matter of a few months.

Zambesi Gold, a gold-backed cryptocurrency based in South Africa, is on the verge of acquiring its next gold mine called Eersteling.

Zambesi Gold (ZGD) is in the process of acquiring its next mining operation, called Eerstelling mine – based in Limpopo. In a recent interview, a spokesperson for Zambesi Gold stated that the new acquisition will be completed by the end of this year or early next year and that they are in the final stages of completing the acquisition.

This is the second mining operation that will be added to the company’s list of acquisitions. The first mine that was acquired by the South African company was the Middelvlei gold mine, which is located just 7.5 kilometers from Randfontein.

Several other mines are in the process of being acquired. These mines include the Amalia mine in the North West, a gold mine in Zimbabwe, and another mine in Zambia.

Since the ICO of the token in January this year, the token’s price has risen from $0.1 to its current price of around $1.2, according to the crypto market tracking website, CoinMarketCap.

In related news, a Swedish company by the name of Sandvik has invested R350 million (around $20,475,858 at the current USD/ZAR exchange rate) into South Africa’s mining sector. According to South Africa’s president, Cyril Ramaphosa, the investment is “an important vote of confidence in the country and its mining sector”.

 

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