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Gold buying prices per gram in Zimbabwe, 3 July 2025

Gold buying prices per gram in Zimbabwe today, 3 July 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

  • SG 90% and ABOVE US$101.34/g.
  • SG ABOVE 89% BUT BELOW 90% US$100.27/g.
  • SG ABOVE 80% BUT BELOW 85% US$99.20/g.
  • SG ABOVE 75% BUT BELOW 80% US$98.12/g.
  • SAMPLE BELOW 10g BUT ABOVE 5g US$96.52/g.

Fire Assay CASH $101.88/g.

NB: Fire Assay cash price is for gold above 100g; no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

A 2% royalty is charged on all deposits (Small-scale miners).

A 5% royalty is set for Primary Producers.

A mine posts a job with a Mining Engineering degree “preferably obtained from a university outside Zimbabwe”

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A mining operation in Zimbabwe has sparked widespread condemnation after advertising a senior leadership role that appears to undermine the value of Zimbabwean mining engineering qualifications.

By Ryan Chigoche

The vacancy, posted by Precision Recruitment International, calls for a General Manager with a Mining Engineering degree “preferably obtained from a university outside Zimbabwe.”

This phrasing has provoked fierce backlash within the mining sector, with local professionals viewing it as a direct devaluation of Zimbabwe’s hard-earned educational credentials.

Zimbabwe’s mining sector has long relied on locally trained engineers to lead its operations. Many earned their degrees during periods when Zimbabwean universities were regarded as producing some of the best mining engineering graduates in the region.

These qualifications have served as the foundation for decades of success, with local mine managers steering operations through some of the country’s toughest economic and operational challenges, including hyperinflation, power shortages, and regulatory uncertainty.

Today, most senior managers at active mines hold Zimbabwean qualifications and have risen through years of hands-on experience, leveraging deep practical knowledge of local geology and regulatory frameworks. This expertise remains crucial and difficult to replace.

Global Recognition of Zimbabwean Engineers

Zimbabwean mining engineers are not just valued at home; their skills and leadership are sought after internationally. Many hold senior roles such as Mine Managers, Operations Directors, and even Chief Operating Officers across Southern Africa and Australia.

Their success in jurisdictions with more stringent safety and environmental standards challenges the notion that Zimbabwean qualifications are inferior.

Against this backdrop, the insistence on a foreign degree for a role requiring at least 10 years of senior experience raises important questions.

Candidates of this seniority graduating from Zimbabwean universities around or before 2005 were educated under systems still highly respected internationally.

Critics argue that preferring foreign degrees unfairly sidelines qualified local professionals and perpetuates an outdated bias against Zimbabwean education.

Adding to that, such a preference often leads to the appointment of expatriates, who come with added costs like relocation packages, expatriate allowances, and higher salaries.

In an industry increasingly focused on cost optimisation and value for shareholders, this approach risks financial inefficiency and operational disruption.

Contradiction With Government Policy and Local Content Framework

Zimbabwe’s mining policy strongly supports local content and skills development, encouraging foreign investors to employ and promote Zimbabwean professionals.

By prioritising foreign degrees, the company risks running afoul of these policies, potentially attracting regulatory scrutiny and harming its standing with government authorities.

This recruitment language echoes colonial-era attitudes that equate foreign education with superiority, undermining years of progress in decolonising Zimbabwe’s mining leadership.

It also perpetuates harmful stereotypes that unfairly diminish local professionals despite their proven capabilities.

By choosing to bypass local talent rather than investing in mentoring and upskilling, the company signals a lack of commitment to the long-term growth of Zimbabwe’s mining workforce.

This approach is short-sighted and jeopardises the sustainability of the sector’s human capital.

This development comes at a time when Zimbabwe’s mining industry is entering a growth phase, with new lithium, gold, and platinum projects coming online.

At this pivotal moment, it is important that investors act as partners in local empowerment, nurturing and elevating local leadership rather than sidelining it.

As the debate intensifies, many are calling on regulators, professional bodies, and government agencies to step in and ensure recruitment practices are fair, transparent, and aligned with Zimbabwe’s national development goals.

Zimbabwe’s mining sector deserves leadership that recognises and values its own engineering professionals who have proven their mettle on both the local and global stages.

Premier Converts Interest Owed to Canmax into Shares

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London Stock Exchange-listed mining and exploration junior, Premier African Minerals Limited, has issued over 5.7 billion new shares to Canmax Technologies Co., Ltd., converting close to US$940,000 in accrued interest into equity, as the two companies continue to deepen their strategic collaboration on the Zulu Lithium and Tantalum Project in Fort Rixon, Mining Zimbabwe can report.

By Rudairo Mapuranga

The transaction, which sees £688,957.63 (US$938,755.14) worth of interest transformed into 5,741,313,598 ordinary shares, follows the terms laid out in an amended offtake and prepayment agreement between the two parties. The shares, priced at 0.012 pence each—the same as the direct subscription announced on 11 June 2025—are expected to be admitted to trading on the AIM market of the London Stock Exchange around 8 July 2025.

The new shares will rank equally with existing ordinary shares. Upon issuance, Premier’s total issued share capital will stand at just over 76 billion shares, which shareholders may use as a new benchmark for disclosing ownership under the UK’s financial transparency regulations.

This equity conversion is part of a broader realignment of the commercial relationship between Premier and Canmax. In December 2024, both companies amended their original 2022 offtake and prepayment agreement after Premier defaulted on its obligation to deliver a minimum of 1,000 tonnes of lithium spodumene concentrate per month in late 2023. The company had secured US$34.64 million in prepayments from Canmax to construct and commission the Zulu Lithium plant.

Due to the missed deliveries in November and December 2023, Canmax carried forward a balance of US$3 million and raised the applicable interest rate on the outstanding amount to 12% per annum from 1 December 2023. Despite these setbacks, Canmax remained supportive, opting for a collaborative path rather than invoking more severe contractual remedies.

The most recent amendment, announced late last year, includes several key safeguards designed to protect Canmax’s investment while giving Premier time to find new partners and stabilise production. The Long Stop Date for Premier to settle its obligations was extended to 31 December 2025 or until the company secures a Canmax-approved buyer for the lithium product. Among the conditions, Premier must not pledge its assets without written consent from Canmax and must maintain financial transparency and operational compliance. Premier’s board members have also personally committed to fulfilling these obligations.

Importantly, Canmax now retains the right to partially convert outstanding obligations into Premier shares, maintaining a 13.38% stake in the company on a fully diluted basis.

Premier’s CEO, George Roach, has previously acknowledged the challenges faced in bringing Zulu Lithium into full production but maintains confidence in the project’s potential and Canmax’s ongoing support.

With this share issuance and Canmax’s growing equity stake, the relationship between the two companies appears to be evolving from simple prepayment-for-offtake terms into a more strategic, equity-based partnership. For Zimbabwe, this signals renewed investor confidence in one of its most prominent lithium projects—a critical mineral for the global electric vehicle and energy storage sectors.

As the Zulu project edges closer to stabilised production, Canmax’s involvement will likely provide not just capital, but crucial technical oversight and market credibility, potentially positioning Zulu Lithium as a long-term player in Africa’s rapidly expanding battery minerals landscape.

Gold Demand Surges as Investors Seek Stability in Volatile Times 

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According to the World Gold Council, as highlighted in the newly released In Gold We Trust Report 2025, global demand for gold bars and coins rose significantly in the first quarter of 2025. Total demand increased by 325 tonnes, marking a 3% year-on-year rise and standing 15% above the five-year average. This rebound signals a renewed interest from Western financial investors, following a prolonged period of hesitation.

By Ryan Chigoche

Investor sentiment in Western markets is increasingly shaped by concerns over economic stability, wealth preservation, and hedging against crises. The Precious Metals Study 2024, conducted by the University of St. Gallen on behalf of Philoro Edelmetalle, offers insight into these trends.

The study, which surveyed 3,000 Swiss investors, identified “stability and long-term investment” as the primary reason for buying gold, cited by 43% of respondents. This was followed closely by motivations for “value appreciation and profit generation” and “protection against economic crises,” both at 31%.
Switzerland’s strong cultural affinity for gold remains evident. Private investors in the country collectively hold around 200 tonnes of gold roughly the weight of a blue whale. Storage habits, however, reveal a compromise between security and convenience. While 48% of Swiss investors store their gold securely at banks or with precious metals dealers, a surprising 20% choose to keep their gold unsecured at home or even buried in gardens.

While investment demand strengthened, the jewellery market struggled under the weight of rising gold prices. Global jewellery demand fell by 11% in 2024, making it one of the weakest years since 2009, excluding the pandemic-disrupted 2020. The largest decline came from China, where demand dropped by 24%, driven by slowing income growth and weaker consumer confidence.

India, traditionally highly sensitive to gold prices, fared better. Jewellery demand there fell only 2%, supported by strong economic growth projections of 6.5% for both 2025 and 2026 and aided by a reduction in gold import duties implemented in July 2024. Festive and wedding season demand in the second half of the year further buoyed sales, pushing India’s total jewellery spending to INR 3.6 trillion, with 70% of that demand concentrated in the latter half of the year.

Other regions also recorded declines. Jewellery demand fell by 3.7% in Europe, by 2.8% across North and South America (including Brazil), and by 8.4% in the Middle East. Yet, despite lower consumption volumes, the total value of global jewellery demand reached an all-time high of USD 144 billion, thanks to the gold price rally, representing a 9% year-on-year increase in value.

The downward trend in jewellery demand extended into the first quarter of 2025. Global jewellery consumption fell by a further 21% to 380 tonnes, with India and China again recording above-average declines of 25% and 32%, respectively.

Overall, the gold market continues to be driven by strong central bank demand, especially from emerging markets and Eastern Europe. Private investors in these regions also remain active buyers. Meanwhile, Western financial investors have begun returning to the market, spurred by persistent economic uncertainty and gold’s traditional role as a safe haven.

On the supply side, 2024 saw total global gold supply reach a new record of 4,974 tonnes, a 1% increase over 2023. Mine production held steady at 3,661 tonnes while recycling climbed 11% to 1,370 tonnes, driven by high prices that encouraged increased scrap gold sales. Notably, the fourth quarter of 2024 saw 359 tonnes of recycled gold return to the market, marking a 15% year-on-year increase.

In contrast to the rise in recycling, producer hedging turned negative for the year. After contributing 67.4 tonnes to supply in 2023, net hedging fell by 56.8 tonnes in 2024 as mining companies opted to capitalize on current high prices rather than lock in future sales.

Forecasts of a sharp rise in gold supply proved overly optimistic. Once again, the gold market demonstrated its low supply elasticity, reinforcing the metal’s image as a scarce and enduring store of value, an observation underscored in the report.

ZMF Urges ASM to Update Mining Coordinates as Ministry Rolls Out Digital Cadastre Exercise

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The Zimbabwe Miners Federation (ZMF) is calling on all Artisanal and Small-Scale Miners (ASM) to urgently participate in the Ministry of Mines and Mining Development’s ongoing exercise to update mining title coordinates, in line with the national rollout of a digital Mining Cadastre Information Management System (MCIMS), Mining Zimbabwe can report.

By Rudairo Mapuranga

In General Notice No. 1 of 2025, the Ministry announced the commencement of a countrywide exercise to align mining title records with modern geospatial data standards. The initiative began on 1 July 2025 and remains open-ended, allowing miners to submit their updated coordinates at any time.

ZMF Chief Executive Officer Mr. Wellington Takavarasha welcomed the exercise and urged small-scale miners not to delay in updating their coordinates.

“This is a vital opportunity for ASM to formalise and secure their mining titles. By participating in this update, small-scale miners can avoid future disputes and benefit from a transparent, digitised system,” said Takavarasha.


Why This Matters for Small-Scale Miners

The digitisation of mining title information is expected to reduce boundary disputes, improve accuracy in title mapping, and streamline mining title administration. For artisanal and small-scale miners—who often face challenges around claim overlaps and unclear boundaries—this is a major step forward.

“Many disputes within the ASM sector are caused by inaccurate or outdated coordinates. This exercise is designed to fix that. It’s a chance to protect what you’ve worked hard for,” Takavarasha emphasised.


What ASM Miners Need to Do

The Ministry has outlined simple steps for all miners to follow:

  1. Gather Required Documents
    Ensure you have your valid mining title documents and any supporting paperwork.

  2. Capture Accurate Coordinates
    Engage a registered mine surveyor to take accurate, survey-grade coordinates for your claim. Handheld GPS devices are no longer accepted for official submissions.

  3. Submit to the Ministry
    Take your updated coordinates and documents to your nearest Ministry of Mines and Mining Development office. There is no deadline, so you can submit at any time—but early action is advised.


Benefits of Compliance

  1. Avoid future disputes with neighbouring miners

  2. Increase your chances of receiving investment or loans

  3. Strengthen your legal claim over your mining area

  4. Become part of Zimbabwe’s modernised mining system

“This is about giving miners peace of mind and integrating them into the formal economy. We encourage all small-scale miners to comply without delay,” said Takavarasha.


ZMF’s Continued Support for ASM

As the national voice of small-scale miners, ZMF has pledged to work closely with the Ministry to ensure that artisanal and small-scale operators are not left behind during the transition to the digital cadastre.

Miners facing difficulties in capturing or submitting coordinates are encouraged to consult their local ZMF structures or Provincial Mining Directors for guidance and technical assistance.

“ZMF is here to help. Formalisation begins with simple steps like this. Let’s secure our claims and be part of Zimbabwe’s mining future,” concluded Takavarasha.

Gold buying prices per gram in Zimbabwe, 2 July 2025

Gold buying prices per gram in Zimbabwe today, 2 July 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

  • SG 90% and ABOVE US$101.75/g.
  • SG ABOVE 89% BUT BELOW 90% US$100.67/g.
  • SG ABOVE 80% BUT BELOW 85% US$99.59/g.
  • SG ABOVE 75% BUT BELOW 80% US$98.52/g.
  • SAMPLE BELOW 10g BUT ABOVE 5g US$96.90/g.

Fire Assay CASH $102.28/g.

NB: Fire Assay cash price is for gold above 100g; no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

A 2% royalty is charged on all deposits (Small-scale miners).

A 5% royalty is set for Primary Producers.

No Survey-Grade Coordinates, No Mine Registration – Ministry Enforces New Pegging Rule

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In a major policy shift aimed at curbing rampant mining boundary disputes, the Ministry of Mines and Mining Development has officially begun turning away miners and peggers who submit claims or applications without survey-grade coordinates.

By Rudairo Mapuranga

The Ministry is now enforcing a strict directive requiring all prospecting, pegging, and registration applications to be accompanied by coordinates produced by a registered and certified surveyor.

This move, which is already being implemented nationwide, effectively bans the use of handheld GPS devices for pegging claims — a practice long associated with imprecise boundaries and overlapping titles that have fueled disputes, double allocations, and in some cases, violent confrontations among miners.

According to officials, miners must now engage licensed surveyors who are registered in the Ministry of Mines database and are paid-up members of the Association of Mine Surveyors of Zimbabwe (AMSZ). This ensures accountability, professional standards, and integration with Zimbabwe’s evolving digital mining cadastre system.

Miners and peggers who approach provincial offices without proper coordinates are being turned away and told to return only after obtaining surveyor-authenticated data.

“I bought a prospecting licence and thought I was ready to submit my paperwork,” said Tafadzwa Chikowore, an artisanal miner. “To my surprise, the Ministry officer said I must bring coordinates signed off by a surveyor from their list. I had to go back and find a registered surveyor from AMSZ — it’s serious now.”

Sources from within the Ministry say the move is part of efforts to sanitize the sector, improve the security of tenure, and create a reliable and conflict-free digital cadastre for Zimbabwe’s mining operations.

“We’ve seen too many disputes due to inaccurate boundary markings and speculative pegging,” said a Mines Ministry official. “From now on, we’re not processing anything unless the coordinates are traceable to a professional surveyor who is on our system and affiliated with AMSZ. It’s about order and accountability.”

The use of handheld GPS units, though convenient and previously common, has been found to produce inaccurate and inconsistent location data. In a mineral-rich country like Zimbabwe, where claims often lie close together, even a 10-meter error can lead to a serious legal dispute or loss of investment. The new approach ensures all claims are accurately pegged, registered, and digitally mapped in alignment with Zimbabwe’s national geospatial systems.

The Association of Mine Surveyors of Zimbabwe (AMSZ) has welcomed the enforcement of the rule, saying it affirms the importance of professionalism and raises the standard of practice in the sector.

“We commend the Ministry for recognizing the role of professional surveyors in bringing integrity to pegging processes,” said AMSZ President Stewart Gumbi. “Our members are qualified and trained to provide precise geospatial data. This decision also protects miners — it ensures their claims are legally defensible and georeferenced in the national system.”

While some small-scale miners have raised concerns over the additional costs involved in hiring licensed surveyors, stakeholders say the benefits far outweigh the short-term inconvenience.

“Yes, it’s a bit more expensive now,” said Chikowore. “But at least I know my claim is secure and will not be contested because of incorrect pegging. In the long run, this saves us from bigger losses.”

The development is part of the Ministry’s broader push to modernize and formalize mining activities, particularly in the Artisanal and Small-Scale Mining (ASM) sector. Officials believe that proper mapping and surveying are critical to unlocking investment and building investor confidence in the sector.

The Ministry is also planning to strengthen enforcement mechanisms and introduce stiffer penalties for individuals caught pegging claims without surveyor-authenticated coordinates.

“This isn’t a suggestion. It’s now mandatory. If you want your paperwork processed, make sure your coordinates come from someone who’s registered and recognized by the Ministry and AMSZ. Otherwise, you’re wasting your time,” a Ministry official said.

As Zimbabwe pushes forward with mining reforms and the rollout of a digital cadastre, the insistence on survey-grade coordinates marks a turning point for governance in the sector. It signals the end of an era dominated by informal practices and boundary confusion — and the beginning of a more professional and transparent mining environment.

Gold buying prices per gram in Zimbabwe, 1 July 2025

Gold buying prices per gram in Zimbabwe today, 1 July 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

  • SG 90% and ABOVE US$99.88/g.
  • SG ABOVE 89% BUT BELOW 90% US$98.82/g.
  • SG ABOVE 80% BUT BELOW 85% US$97.76/g.
  • SG ABOVE 75% BUT BELOW 80% US$96.70/g.
  • SAMPLE BELOW 10g BUT ABOVE 5g US$95.12/g.

Fire Assay CASH $100.40/g.

NB: Fire Assay cash price is for gold above 100g; no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

A 2% royalty is charged on all deposits (Small-scale miners).

A 5% royalty is set for Primary Producers.

Students Embrace Mine Surveying as a Vital Profession for the Future

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As Zimbabwe’s mining industry continues to adopt advanced technologies to improve productivity and operational efficiency, mine surveying students are stepping up with confidence and renewed enthusiasm to shape the future of the profession, Mining Zimbabwe can report.

By Rudairo Mapuranga

This was clearly demonstrated during the Association of Mine Surveyors of Zimbabwe (AMSZ)’s recent technical visit to Blanket Mine, where surveying students from the Zimbabwe School of Mines (ZSM) engaged with professionals and witnessed firsthand how innovation is driving the future of mining.

One of the standout voices from the student delegation was Tafara Bingandadi, a third-year mine surveying student at ZSM, who shared his reflections after the tour, expressing how the experience opened his eyes to the vast opportunities and evolving relevance of the surveying field in Zimbabwe’s mining sector.

“Today I had the opportunity to visit Blanket Mine, where we had a great day learning a lot of things. I was previously attached to a surface mine at Bikita Minerals, so I had limited exposure to underground operations. This visit has helped me understand both surface and underground methods and the technologies now in use,” said Tafara.

With growing calls for local surveyors to modernise their craft, students like Tafara are embracing the transition away from traditional methods towards modern surveying systems. He highlighted the use of technologies such as laser scanners, drone surveys, and other digital solutions Blanket Mine is implementing to enhance accuracy and efficiency.

“They are now moving away from old methods. They are improving the accuracy of their work through new technologies. This visit helped us realise that software and tech-driven surveying is the future. It has inspired us to focus more on understanding these tools as part of our studies,” he explained.

The technical visit, organised by AMSZ, was not just a learning exercise but also a moment of motivation and reassurance for the students.

“You hear people say all mines have been surveyed—what’s the point of studying surveying? But today, after seeing what’s on the ground and engaging with professionals, I’m convinced our role is more relevant than ever,” Tafara noted.

He encouraged young Zimbabweans to consider mine surveying as a career, especially in light of the evolving demands of the sector. Tafara also urged fellow students and young professionals to join AMSZ to remain connected with the industry and stay updated on current trends and technologies.

“I want to thank AMSZ and Blanket Mine for such opportunities. I also encourage others to join the Association so we grow together and show the industry how competent we are,” he said.

As the mining sector transitions into an era defined by digital mining and spatial data, students like Tafara Bingandadi represent the new wave of professionals who are not only enthusiastic but also technically prepared to drive Zimbabwe forward.

The visit follows growing industry recognition of the importance of investing in human capital, particularly in technical fields like mine surveying.

2025 Minimum Wage Rates for the Mining Sector

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The new minimum wage rates for the period 1 January to 31 December 2025 have been agreed upon and pegged in US Dollars. The agreement, reached on 17 April 2025, was made between the Employees’ Party, represented by the Associated Mine Workers Union of Zimbabwe and the Zimbabwe Diamond & Allied Minerals Workers Union, and the Employers’ Party, represented by the Chamber of Mines of Zimbabwe (CoMZ).

The revised wage schedule, which covers mining grades 1 to 13, is expected to be submitted to the Ministry of Labour and Social Services for official registration and publication.

Statutory Amendment

The changes amend Clause 1 (a) and 1 (b) of Schedule E in the Principal Agreement Statutory Instrument 152 of 1990, replacing them with:

“The basic minimum earnings payable to employees for the period 1 January 2025 to 31 December 2025 shall be as per the attached Schedules.”

The agreement is subject to periodic review under Section 3(2) of the same statutory instrument, depending on prevailing economic conditions in the mining industry.

Exemption for Non-Forex Generating Firms

An exemption clause has also been included in line with Clause 6 of the principal agreement, allowing non-foreign currency-generating companies to pay the agreed USD wages in ZiG equivalent, provided they are granted approval and use the official Reserve Bank of Zimbabwe (RBZ) interbank rate.

Encouragement to Pay Above Minimum

While the new rates provide a baseline, financially capable employers are encouraged to pay more than the minimum wages set by the National Employment Council (NEC) to better support employees amid ongoing economic challenges.

This agreement reflects ongoing collaboration between workers’ unions and industry leaders and reaffirms the shared commitment to fair remuneration and economic sustainability in Zimbabwe’s vital mining sector.

Download the wage rates below:-

NEC Mining Industry Wage Rates 2025.