African Gold, the exploration company, has said it is examining opportunities in new minerals in Zimbabwe and also mining ventures in other parts of southern and western Africa.

In its interim statement, company chairman Mr John Teeling said that, after selling its Beehive gold mine in Zimbabwe, the company has cash to spend. African Gold still owns the Inez mine in Zimbabwe, which it says is capable of further development.

In the six months to the end of September, the company incurred operating losses of £192,000, up from £141,000 in the same period in 1998.