Home Blog Page 16

ASM Gold Deliveries Surge 29.9% in May as Zimbabwe’s Gold Output Reaches 3,951 kg

0

Artisanal deliveries climb to 2,740 kg, up 7.4% year-on-year, as large-scale output holds steady. The first five months of 2026 reach 16.59 tonnes, keeping the 50-tonne national target firmly on track.

Gold deliveries to Fidelity Gold Refinery (FGR) recorded their strongest monthly performance so far this year in May 2026, driven by a sharp rebound in artisanal and small-scale mining (ASM) output, Mining Zimbabwe can report.

By Rudairo Mapuranga

Total deliveries for the month reached 3,951.0136 kg, an 18.8% increase from April 2026’s 3,324.5926 kg and an 11.5% rise compared to May 2025’s 3,542.1734 kg, according to official FGR statistics obtained by this publication.

The ASM sector, which contributes roughly three-quarters of national gold production, led the charge. ASM deliveries in May 2026 stood at 2,740.7582 kg, up 29.9% from April’s 2,110.6550 kg and 7.4% higher than May 2025’s 2,552.0986 kg. The month-on-month surge is the largest recorded since the formalisation drive accelerated in late 2025, signalling that policy interventions and improved access to buying centres are beginning to bear fruit.

Large-scale miners delivered 1,210.2554 kg in May, virtually unchanged from April’s 1,213.9376 kg—a negligible 0.3% decline month-on-month. However, compared to May 2025’s 990.0748 kg, large-scale output jumped 22.2%, reflecting the steady recovery of capitalised mines following years of underinvestment.

First Five Months: 2026 Extends Lead Over 2025

Cumulative deliveries for the first five months of 2026 now stand at 16,587.5302 kg, compared to 16,013.8013 kg in the same period of 2025, representing a 3.6% increase. The widening margin is encouraging, especially given that April 2026 had briefly trailed April 2025 on a year-on-year basis. May’s strong performance has reversed that temporary softness.

At this pace, Zimbabwe has already delivered over 16.5 tonnes of gold in the first five months, leaving 33.5 tonnes to reach the ambitious 50-tonne annual target. Historical production patterns show that the second and third quarters (May through September) are typically the strongest, as drier weather and post-harvest labour availability boost ASM activity.

50-Tonne Target: Within Striking Distance

To achieve 50 tonnes by year-end, Zimbabwe needs average monthly deliveries of approximately 4,180 kg for the remaining seven months (June–December). May’s 3,951 kg fell just 5.5% short of that required average—a gap that is well within seasonal norms. In 2025, monthly deliveries exceeded 4,000 kg in July (4,067 kg), August (4,134 kg), and September (4,254 kg). With new capacity coming online, including the phased reopening of Mazowe and Redwing under Namib Minerals, expanded ASM formalisation at Elvington and Amaveni, and the full rollout of FGR’s digital Gold Card system, surpassing 4,200 kg per month in the second half of 2026 is entirely plausible.

FGR’s own projections remain optimistic, citing the Gold Development Initiative Fund (GDIF) and the recently established Gold Trade Enforcement Unit (GTEU) as key levers to reduce leakage to parallel markets. Every kilogram recovered from informal channels directly boosts official delivery figures.

The 29.9% month-on-month jump in ASM deliveries is the clearest evidence yet that the formalisation drive is shifting from disruption to delivery. April’s year-on-year decline of 27.9% had raised concerns, but May’s 7.4% year-on-year growth suggests that the registration backlog and compliance adjustments are behind the sector.

The digital Gold Card system, now being rolled out across all mining provinces, has registered thousands of artisanal miners, granting them access to formal financing, equipment, and technical support.

Zimbabwe Miners Federation (ZMF) President Henrietta Rushwaya described May’s performance as “a turning point,” adding that “the ASM sector has proven its resilience and its capacity to grow within a formal framework. The 50-tonne target is no longer an aspiration—it is a realistic operational goal.”

While ASM grabbed the headlines, large-scale mining delivered a solid, if unspectacular, performance. May’s 1,210.2554 kg was essentially flat month-on-month but represented a 22.2% year-on-year increase, the sixth consecutive month of double-digit annual growth for the segment.

Gold buying prices in Zimbabwe per gram/ ounce, 10 June 2026

Gold buying prices in Zimbabwe per gram/ ounce, 10 June 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice (US$/g)Price (US$/oz)
SG 90% and Above125.483,902.86
SG 85% but Less Than 90%124.153,861.49
SG 80% but Less Than 85%122.833,820.43
SG 75% but Less Than 80%121.503,779.05
Sample (5–10 g)119.513,717.17
Fire Assay (Cash)126.153,923.70

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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


#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Global Gold ETF Demand Cools in May as Investors Await Fresh Catalyst

0
Global physically backed gold ETFs recorded modest outflows of US$2 billion in May as investors largely stayed on the sidelines, with range-bound prices and renewed appetite for risk assets limiting demand, according to the World Gold Council (WGC), Mining Zimbabwe reports.
By Ryan Chigoche 
The pullback followed a strong rebound in April and marked a slowdown rather than a reversal of sentiment. Year-to-date, global gold ETFs have still attracted nearly US$17 billion in net inflows.
The figures carry significance beyond financial markets. For gold-producing economies such as Zimbabwe, ETF flows serve as a useful gauge of global investor confidence in gold, often influencing price direction and market sentiment. Strong inflows can reinforce higher gold prices, boosting export earnings, royalties and tax revenues, while periods of weaker demand may temper price momentum. With mining remaining one of Zimbabwe’s most important economic pillars and gold its leading foreign currency earner, shifts in global investment demand are closely linked to the industry’s ability to generate growth, jobs and export receipts.
The trend is particularly relevant for Zimbabwe, which is targeting 50 tonnes of gold production in 2026 after achieving a record 46.7 tonnes last year. Therefore, sustained strength in global gold demand remains important for supporting prices and maximising returns from the country’s expanding production base.
Against that backdrop, May’s slowdown in ETF demand did little to alter the broader picture. The month’s outflows reduced total assets under management by 2% month-on-month to US$604 billion, while collective holdings slipped 0.4% to 4,121 tonnes. Despite the decline, holdings remain close to the record 4,176 tonnes reached in February.
North America led the retreat, posting US$1.1 billion in outflows. The WGC said investor activity has been subdued since gold prices began trading sideways after the March drawdown, suggesting many market participants are waiting for a clearer catalyst before increasing exposure.
The opportunity cost of holding gold has also risen amid a stronger US dollar, elevated interest rates and shifting expectations around future US monetary policy. At the same time, investors have rotated back into higher-risk assets, particularly technology stocks. Reflecting that shift, global technology ETFs recorded their strongest monthly inflows since early 2024, drawing capital away from traditional safe-haven assets such as gold.
Europe was the only region to register net inflows during the month, adding US$334 million. Positive demand in the United Kingdom and Germany outweighed weakness elsewhere. In the UK, political uncertainty and fiscal concerns supported safe-haven demand, while lower Gilt yields reduced the opportunity cost of holding gold. Germany experienced a similar trend.
Asia recorded its first monthly outflow since August 2025, shedding US$1.2 billion, driven almost entirely by China. A weaker local gold price, a stronger renminbi and continued optimism in equity markets weighed on demand. India also posted outflows of US$61 million, ending a 12-month streak of inflows as investors locked in profits.
Trading activity in the broader gold market remained resilient. Average daily trading volumes rose 3% month-on-month to US$424 billion, remaining 15% above the 2025 average. However, gold ETF trading volumes fell 26% to US$6 billion per day, dropping below the annual average.
The WGC noted that COMEX positioning remains broadly neutral, indicating investors are still waiting for a near-term catalyst. While short-term demand has cooled, the council said the longer-term fundamentals supporting gold remain intact.

Gold buying prices in Zimbabwe per gram/ ounce, 9 June 2026

Gold buying prices in Zimbabwe per gram/ ounce, 9 June 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice (US$/g)Price (US$/oz)
SG 90% and Above129.714,034.12
SG 85% but Less Than 90%128.333,991.19
SG 80% but Less Than 85%126.963,948.58
SG 75% but Less Than 80%125.293,896.64
Sample (5–10 g)123.533,841.90
Fire Assay (Cash)130.394,055.27

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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


#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Kavango Partners Gwanda State University to Boost Mining Skills and Student Attachments

0

Kavango Resources PLC has entered into a partnership with Gwanda State University (GSU) focused on education, skills development, and research collaboration, a move that aligns with the government’s recently signalled intention to introduce mandatory student attachment policies in the mining sector, Mining Zimbabwe can report.

By Ryan Chigoche

The London and TSX Venture Exchange-listed mining company this week signed a Memorandum of Understanding (MoU) with the university aimed at expanding opportunities for student training, research collaboration, and industry exposure.

Under the agreement, GSU students will gain access to work-related learning placements, internships, and field projects, providing the practical experience increasingly required in Zimbabwe’s growing mining industry.

The partnership comes at a time when government is seeking greater involvement from mining companies in developing the next generation of professionals.

Shortly after taking office, Mines and Mining Development Minister Dr Polite Kambamura signalled plans to introduce compulsory attachment programmes for mining students. He also indicated that government was looking at mechanisms to strengthen skills and knowledge transfer across the sector, potentially requiring mining companies to play a more active role in training future industry talent.

While those proposals have not yet been formalised into policy, Kavango’s agreement with GSU reflects the direction government wants the industry to take.

Following the signing ceremony, Kavango Chief Operating Officer Alex Gorman and General Manager Irvin Nyamukondiwa toured GSU’s recently commissioned laboratory facilities alongside Vice-Chancellor Professor Doreen Zandile Moyo, Acting Pro Vice-Chancellor Dr B. Moyo, Mrs M. Nkomo, and other faculty members.

The company described the laboratories as “an impressive investment in scientific research and practical training” and said it looked forward to exploring additional areas of collaboration with the institution.

“Developing the next generation of mining professionals is essential to the future of Zimbabwe’s mining sector,” Kavango said.

“We look forward to working closely with Gwanda State University to help build the skills and expertise needed for sustainable growth.”

Beyond the signing ceremony, the agreement speaks to a broader challenge facing Zimbabwe’s mining education system.

Over the past decade, universities and colleges have significantly expanded enrolment in mining-related programmes, producing a growing pool of graduates eager to enter the industry. However, attachment and employment opportunities have not expanded at the same pace, leaving many students struggling to secure the placements required to complete their studies.

Industry leaders have repeatedly warned that mining companies can no longer absorb the volume of students seeking industrial attachments. Economic pressures, operational constraints, and fluctuating commodity markets have further reduced the number of opportunities available to new entrants.

A senior executive at a leading mining company recently told Mining Zimbabwe that the situation had become increasingly difficult, with demand for placements far exceeding what the industry can realistically provide.

Against this backdrop, the Kavango-GSU partnership offers a practical example of how collaboration between mining companies and academic institutions can help ease the pressure. More importantly, it demonstrates how industry can begin addressing the skills gap and attachment shortage even before government makes such programmes mandatory.

Zimbabwe Targets Training and Licensing of 600,000 Artisanal Miners to Improve Mine Safety

0

Zimbabwe’s government is targeting the training and licensing of an estimated 600,000 artisanal miners through the Zimbabwe School of Mines (ZSM), as authorities seek to curb rising fatalities in a sector that has become increasingly important to the country’s mining industry, Mining Zimbabwe can report.

By Ryan Chigoche

Permanent Secretary in the Ministry of Mines and Mining Development, Dr Thomas Utete Wushe, unveiled the ambitious target during a familiarisation tour of the school in Bulawayo, arguing that formalising the country’s vast artisanal mining workforce is critical to improving safety standards and reducing preventable deaths.

The push comes against the backdrop of worsening safety statistics. Sixty-four artisanal and small-scale miners died during the first quarter of 2026, a six per cent increase from the same period last year, underscoring the dangers that continue to plague the sector despite its growing contribution to mineral production.

“My challenge to the school and the ministry is to ensure that those 600,000 miners should be qualified and licensed to do what they are doing,” Dr Utete Wushe said.

To illustrate the scale of what he believes can be achieved, Dr Utete Wushe pointed to Zimbabwe’s driver licensing system, which has successfully trained and certified more than three million motorists.

“What we have achieved on the roads shows that the country can do the same for artisanal miners,” he said.

For Dr Utete Wushe, the case for training extends beyond compliance and professionalisation. He argued that equipping miners with the necessary skills and qualifications could significantly reduce the accidents and fatalities that have become synonymous with the sector.

“We need to start moving fast, because the moment we get that done, you obviously reduce that life-losing propensity associated with small-scale artisanal mining. The primary objective is safety. We should not lose a life,” he said, adding that safety should become the defining principle of Zimbabwe’s mining industry.

Dr Utete Wushe then challenged the Zimbabwe School of Mines to strengthen research and innovation aimed at addressing the sector’s safety challenges. He said the institution’s innovation hub should play a leading role in developing practical solutions capable of reducing accidents and improving mining practices.

“My call now is to strengthen your research so that you can create the future. We want this school charting the future through innovation. The moment we start celebrating high productivity, we have a tear to shed because we have lost a life. Can we, as a school, try to start changing that narrative where the story is only about higher production without the cost of life?” he concluded.

Over the years, large-scale mining companies have shown that sustained training, stronger safety systems, and professional standards can dramatically reduce workplace accidents. Government now wants those lessons extended to the artisanal and small-scale mining sector, where fatalities remain stubbornly high.

The push to train and license 600,000 artisanal miners signals a shift towards formalisation as a safety strategy. For the Zimbabwe School of Mines, the task is immense: equipping a vast workforce with the skills to mine responsibly while leading the innovation needed to ensure that rising mineral production no longer comes at the cost of human lives.

Two Contractor Workers Die at Bikita Minerals in Separate Incidents Within 24 Hours

0

Two workers employed by independent contractors died in separate incidents at Sinomine Bikita Minerals, Zimbabwe’s largest lithium mining operation, Mining Zimbabwe can report.

By Rudairo Mapuranga

The first incident occurred on 6 June 2026 at approximately 19:45 hours, when Mr Thomas Kaliveni (40), a dump truck operator employed by independent contractor WGB Kinsey & Company, sustained fatal injuries at a waste dump site.

The second, unrelated incident followed in the early hours of 7 June 2026, when a security guard employed by Rebnek Security, another independent contractor, was found unresponsive while on duty during a routine supervisory inspection.

In a statement issued on 8 June 2026, Bikita Minerals said investigations into the exact circumstances of the dump truck accident were ongoing and that no further details would be released at this stage out of respect for the families and the investigative process.

The company extended its “heartfelt condolences to the families, friends, and colleagues of the deceased” and reaffirmed that “the safety, health, and well-being of everyone working at our operations remain a core priority.”

Gold buying prices in Zimbabwe per gram/ ounce, 8 June 2026

Gold buying prices in Zimbabwe per gram/ ounce, 8 June 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice (US$/g)Price (US$/oz)
SG 90% and above129.344,022.12
SG 85% but less than 90%127.973,979.51
SG 80% but less than 85%126.603,936.90
SG 75% but less than 80%125.233,894.29
Sample (5–10g)123.183,830.53
Fire Assay CASH130.024,043.27

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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


#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Gold buying prices in Zimbabwe per gram/ ounce, 5 June 2026

Gold buying prices in Zimbabwe per gram/ ounce, 5 June 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above133.384,148.18
SG 85% but less than 90%131.964,104.01
SG 80% but less than 85%130.554,060.15
SG 75% but less than 80%129.144,016.30
Sample (5–10g)127.023,950.37
Fire Assay CASH134.084,169.95

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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


#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Negotiation and Contracting in Strategic Sourcing: Why Every Great Deal Starts Before the Contract Is Signed

0

“Every dollar saved in negotiation is valuable, but every risk prevented and every opportunity secured through commercial contracting is priceless.”

In the previous article, I focused on the implementation of the sourcing strategy, which essentially is about putting the strategy into action through engaging with the supply market with a view to tapping into the strategic value outcomes that underpin the business’s long-term success. In this current series, I transition to the next equally critical stage – negotiating and consummating a “value-packed” deal.

At this stage, I assume that the Strategic Sourcing Team has received bids, proposals, or quotations submitted by suppliers during the implementation stage. I also assume that a proper evaluation of bids has been conducted using appropriate tools and that the team has identified the most suitable supplier or suppliers to best meet the business’s needs. Just to refresh our minds, strategic sourcing is not just about acquiring goods and services. Rather, it is about identifying and acquiring supply market opportunities and capabilities that align with and help to consolidate our own competitive capabilities.

I assume at this stage that the team has identified the supplier whose capabilities closely align with what the business intends to achieve in the long term. All that is left is to tie up some loose ends and formalise the deal into a mutually beneficial and enforceable contract. If crafted properly, the RFQ or RFP would ordinarily guide suppliers to submit their Best and Final Offer (BAFO) to the sourcing team. That BAFO quite frequently misses the team’s expectations for the business. Since those offers are not cast in concrete and the team is not obliged to adopt them as they are, this is where post-tender negotiation comes in handy.

It is critical at this stage to bear in mind that the key to successful negotiation is thorough planning and extensive information gathering, as far as is feasible, on the supply market and the party with whom the team intends to negotiate. Arming yourself with relevant factual information ahead of the negotiation strengthens your leverage during the actual negotiation process.

For stellar results, the team must also go an extra mile to determine and define the business’s positions and interests, as well as those of the supply market or the suppliers targeted for a long-term business relationship. Positions are desired outcomes or “must-haves” that the sourcing team must achieve through the negotiation process because they underpin the business’s competitive capabilities. On the other hand, interests are the underlying reasons why the sourcing team or the other party wants to achieve the defined positions.

To further strengthen its planning, the sourcing team must also determine and anticipate two critical points, namely the ZOMA (Zone of Mutual Agreement) and BATNA (Best Alternative to a Negotiated Agreement) – the point at which they must walk away from the negotiating table, as well as that of their targeted supplier.

When negotiations are centred around positions and interests, even the tone of the engagement changes from a meaningless power tussle and unnecessary muscle-flexing, where the winner takes all. Rather, it elevates the negotiation to a much more strategic level that is predicated on mutual trust, open sharing of factual information, and driving the discussion towards achieving outcomes of direct mutual and fundamental business interest to both parties.

Negotiation at this stage serves the purpose of seeking a deeper understanding of the proposals submitted, tying up any loose ends left hanging in the bids or proposals, and redefining parts or even the entirety of the proposal. When conducted in an atmosphere of mutual respect, it helps both parties not only understand what each seeks to achieve but also unravel the underlying reasons why achieving those outcomes makes business sense. This, in turn, helps both parties find ways to steer the discussion towards the ZOMA. Both parties begin to focus actively on cooperating to find and consolidate areas where mutual interests align, as opposed to widening areas of misalignment.

Once alignment on positions and interests is secured, the parties are ready to concretise their deal into a formal contract. It is absolutely crucial to underscore the fact that a contract is not just a verbose document that serves to loosely remind parties that there is an agreement between them. It is, in a way, a “spring” from which strategic value outcomes beneficial to both parties will continue to flow for the entire duration of the contract.

It is a sacrosanct document that safeguards the ZOMA, as well as the strategic positions and interests of both parties, throughout the entire lifespan of the contract. It empowers both parties with the leverage to demand fulfilment of those positions later when the contract is under implementation. It fossilises those positions and interests in a manner that ensures the business achieves its cost-optimisation targets, ensures continuity of supply even in times of supply market disruption, keeps mission-critical relationships in good standing, and ensures risks that pose an existential threat to the business are kept under surveillance.

By so doing, it enables strategic sourcing to truly live up to its promise – that of aligning sourcing activities with the broader strategic goals of the business.

Written by Emmanuel Nzombe (MCIPS | CIPP)