ARIANA Resources and Hong Kong Xinhai Mining Services are finalising technical services agreements to advance Zimbabwe’s Dokwe Gold Project, following a binding strategic investment aimed at accelerating feasibility studies and fast-tracking production.
The UK-listed miner recently confirmed Xinhai’s entry as a major shareholder after the Chinese mining group acquired a 10,19% stake through the completion of Tranche 1 of a phased strategic investment.
The investment arises from a binding agreement signed in December, under which Xinhai committed up to AU$11 million (US$7,66 million) through a mix of equity and technical services to progress the Dokwe project.
Tranche 1 delivered AU$8 million (US$5,57 million) in immediate funding for working capital, metallurgical test work and the definitive feasibility study (DFS).
Beyond funding, the agreement positions Xinhai as a strategic partner, granting it the right — subject to regulatory approval — to nominate a director to Ariana’s board. Further tranches of investment are tied to the achievement of technical and feasibility milestones at Dokwe.
These matters will be put to shareholders at Ariana’s general meeting scheduled for February 25, where resolutions relating to the Xinhai investment and future equity issues will be considered.
“The resolutions being put to shareholders relate to the binding definitive agreement for strategic investment entered into on December 22, 2025 with Xinhai, the details of which are included in the notices posted on the ASX (Australian Securities Exchange) and AIM (Alternative Investment Market) on December 22, 2025,” Ariana said in a circular to shareholders.
“This strategic investment by Xinhai provides the company with the opportunity to build a lasting partnership capable of unlocking the value of the Dokwe Project through the acceleration of the definitive feasibility study programme, with a view to progressing Dokwe to production as swiftly as possible.”
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Ariana said Xinhai had demonstrated the capacity to deliver large-scale mining projects globally and already had a substantial presence in Zimbabwe.
“The strategic investment has already provided the company with AU$8 million in immediate funding, and the company and Xinhai are in the process of agreeing the terms and scope for the Technical Services Agreements relating to the work to be conducted for completion of the DFS for the Dokwe Project,” Ariana said.
