UNITED Kingdom-based Ariana Resources has named Dokwe Gold Project in Zimbabwe as its flagship asset, citing its significant gold potential and strategic importance within the company’s portfolio.
With gold prices surging more than 40% year-to-date and hitting record highs, the Dokwe project’s estimated gold resource of 1,42 million ounces gives it a projected value of US$3,29 billion.
A recent reassessment pegged the project’s net present value at US$160 million, reaffirming its long-term viability and profitability.
Located in Zimbabwe’s Tsholotsho District, about 110 kilometres northwest of Bulawayo, the Dokwe project comprises two main deposits —Dokwe North and Dokwe Central.
Ariana Resources, which also has major gold development interests in Türkiye and copper-gold exploration projects in Cyprus and Kosovo, described the Dokwe acquisition as a defining moment for the company.
“The all-share acquisition of the Dokwe Gold Project in Zimbabwe was a highlight of the year, which would not have been possible without the strong support of our shareholders,” Ariana chairperson Michael de Villiers said in the firm’s audited financial year results for the period ended December 31, 2024.
“This acquisition marks a departure from our prior regional focus in south-eastern Europe but is underpinned by deep connections and expertise across the southern African region.”
With full ownership secured, Ariana now considers Dokwe a cornerstone of its future strategy.
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“Dokwe now represents our flagship project and has become the focus and emphasis of our recent activities,” de Villiers said.
In December 2024, Ariana announced that US$80 million in capital would be required to bring the Dokwe Gold Project to full development.
Reflecting on the broader context, de Villiers noted that the company’s 2024 operational achievements came against a backdrop of global uncertainty.
“Our operational successes during 2024 should be viewed through the lens of a troublesome and more uncertain global environment,” de Villiers said.
“Geopolitical risks in Europe and the Middle East, in particular, coupled with inflationary and regulatory pressures across energy and labour markets, continue to present serious challenges to all companies in our sector.
“Specifically, it was in recognition of these broader geographic risks and uncertainties that the company determined to establish a new operational front in southern Africa, giving rise to its acquisition of the Dokwe Project.”
He said part of the miners’ key priorities included continuing the feasibility study of the Dokwe Gold Project in Zimbabwe.
“In particular, the Dokwe Gold Project in Zimbabwe marks a transformational addition to our portfolio,” de Villiers said.
“With its large-scale resource base, feasibility-stage readiness with significant exploration and development upside, Dokwe provides Ariana with an opportunity to advance a high-value project in a new and highly-prospective region.”
He said Ariana had the technical, social, and environmental resources and skills that will shape the project for efficient and responsible execution in the years ahead.
