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Kuvimba Board Chair Mupamhanga Declared National Hero

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Kuvimba Board Chair Mupamhanga Declared National Hero

Kuvimba Mining House (KMH) board chairman Justin Mupamhanga has been declared a National Hero following his recent passing. Vice President Dr. Constantino Chiwenga confirmed the decision, made by President Mnangagwa, in recognition of Mupamhanga’s contributions to Zimbabwe’s independence and national development, Mining Zimbabwe can report.

By Rudairo Mapuranga

In his condolence message, Acting President Chiwenga expressed deep sorrow over Mupamhanga’s death and highlighted the significant impact of his work.

“I learned with a deep sense of grief and sadness of the passing on at Arundel Clinic this morning of Justin Mupamhanga after a brave fight against diabetes and high blood pressure. In recognition of his distinguished role in the struggle for independence and in the development of our nation, especially in laying the foundations and growing the agriculture and energy sectors, His Excellency President Dr. E.D. Mnangagwa, in consultation with the Politburo, has directed that he be accorded National Hero status,” Dr. Chiwenga said.

Mupamhanga, who served as Deputy Chief Secretary in the Office of the President and Cabinet, played a pivotal role in shaping the country’s strategic sectors, including agriculture and energy. His leadership at Kuvimba Mining House was instrumental in the company’s growth and commitment to sustainability, innovation, and community impact.

According to Zanu PF political commissar Munyaradzi Machacha, Mupamhanga’s work was so distinguished that his declaration as a National Hero did not require a Politburo sitting, stating that “his work speaks for itself.”

Kuvimba Mining House also released a tribute to Mupamhanga, acknowledging his leadership and dedication. The company described him as a visionary leader who inspired those around him and made a lasting contribution to the mining industry and Zimbabwe as a whole.

As the nation mourns his passing, Justin Mupamhanga’s legacy will continue to serve as an inspiration to many. His contributions to Zimbabwe’s independence, development, and the mining sector will be remembered for generations to come.

Zimbabwe Alloys Warns Public of Imposters

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Zimbabwe Alloys Warns Public of Imposters

Kuvimba Mining House (KMH)-owned Zimbabwe Alloys Limited (ZAL) has issued a public notice alerting the public to fraudulent activities being conducted by individuals posing as ZAL agents.

By Rudairo Mapuranga

According to ZAL, these imposters have been soliciting money from unsuspecting clients, falsely claiming to sell chrome products or lease properties owned by the company.

In the notice signed by Managing Director Deric Dube, ZAL clarified that it is not leasing or selling any of its properties in areas such as Mutorashanga, Netherburn, and Inyala, and has not authorized any agents to conduct sales of chrome products on its behalf.

He stated that the company is urging the public to remain cautious and vigilant when approached by individuals claiming to represent ZAL in these matters. Any engagement with these unauthorized individuals could lead to financial loss, and ZAL emphasized it will not be held liable for any losses incurred from dealing with such persons.

“We have become aware of these deceitful activities and want to assure the public that ZAL has no involvement in these transactions. Any official business will be conducted through our verified channels,” Dube said.

For authentic and verified communication with ZAL, individuals are encouraged to contact their corporate office directly.

This warning serves as a timely reminder for the public to exercise caution and ensure they are dealing with legitimate ZAL representatives before proceeding with any transactions.

Zimplats Profits Plunge 96%, Tax Contributions Also Decline Amid Metal Price Pressures

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Zimplats Profits Plunge 96%, Tax Contributions Also Decline Amid Metal Price Pressures

The country’s biggest Platinum Group Metal (PGM) producer, Zimplats, has reported a staggering 96% decline in profits for the fiscal year ending September 30, 2024, Mining Zimbabwe can confirm.

By Rudairo Mapuranga

The company’s profit after tax plummeted to just US$8.2 million, a significant drop from the US$205.5 million recorded in FY2023. This sharp decline has also negatively impacted Zimplats’ contributions to the Zimbabwean national fiscus, which have fallen by more than a third over the past two years.

According to Zimplats’ FY2024 annual report, the company’s contribution to the national tax base has been steadily declining since peaking in FY2021. Zimplats contributed approximately US$100 million in taxes in FY2024, down from US$150 million in FY2023 and significantly below the US$270 million in FY2022 and US$420 million in FY2021.

Zimplats Chairman, Professor Fholisani Sydney Mufamadi, emphasized the company’s commitment to maintaining strong relations with Zimbabwe’s tax authorities and meeting all tax obligations despite the challenging economic environment. However, he acknowledged that the company’s fiscal contributions have decreased due to weakened profitability and increased capital investments.

“The decline in fiscal contributions in FY2024 is mainly attributable to the negative impact of depressed metal prices on the company’s profitability, coupled with increased capital investment. Our operating subsidiary, Zimbabwe Platinum Mines (Private) Limited, continued to make a significant contribution to the national fiscus, as reflected in our tax payments, although these have declined with profitability,” Professor Mufamadi said.

Prof. Mufamadi noted that the company faced a difficult year as global PGM prices remained subdued, heavily affecting revenue generation. He also highlighted a 25% decline in gross revenue per 6E ounce, which fell from US$1,595 in FY2023 to US$1,196 in FY2024. Overall turnover dropped by 20%, falling to US$767.1 million from US$962.3 million in the previous year.

With the company’s US$1.8 billion, 10-year expansion program underway, Zimplats increased its capital investment by 44% to US$439.5 million in FY2024, up from US$304.3 million in FY2023. This expansion program is supported by a Memorandum of Understanding (MoU) signed with the Government of Zimbabwe in October 2021, as part of Zimplats’ long-term growth strategy. However, the significant capital expenditure, coupled with lower metal prices, has further strained the company’s financial performance.

Zimplats’ cost-saving measures, including rationalizing labour costs and power imports, helped mitigate some of the financial impacts. The company reported that cash generated from operating activities decreased by 54% to US$286.8 million, down from US$461.9 million in FY2023.

Despite the challenging circumstances, Zimplats remains committed to its expansion program and its obligations to Zimbabwe’s tax authorities. The company continues to monitor the global PGM market closely and is focused on controlling internal costs to preserve value.

“Management continues to focus on controllable factors to preserve the value of the company while progressing with the expansion program, which is critical for the long-term success of Zimplats,”
Professor Mufamadi said.

Zimplats’ FY2024 financial performance underscores the challenges faced by the PGM industry, as global metal prices remain volatile and unpredictable. The company’s fortunes—and, by extension, its contributions to the Zimbabwean economy—remain heavily dependent on a recovery in PGM prices.

BREAKING: Kuvimba Board Chairman Justin Mupamhanga has died

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BREAKING: Kuvimba Board Chairman Justin Mupamhanga has died

Kuvimba Mining House (KMH) board chairman Mr Justin Mupamhanga has passed away.

In a statement, KMH announced the sad news describing Mupamhanga as a visionary leader, an advocate for excellence and a guiding light to the Conglomerate.

More to follow…

Why Zimbabwe’s Mining Equipment Suppliers Should Participate in Mining Indaba 2025

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Why Zimbabwe’s Mining Equipment Suppliers Should Participate in Mining Indaba 2025

The annual Investing in African Mining Indaba has long been regarded as the premier event for Africa’s mining industry.

Learn more about Mining Indaba 2025 HERE

It holds the highest attendance of global mining investors, mining companies, governments, and other stakeholders and an unrivalled opportunity to learn and network.

For Zimbabwean companies, this is an opportunity to establish partnerships with international equipment manufacturers and service providers who may be interested in collaborating on projects within Zimbabwe.

Showcasing Zimbabwe’s Potential

The country is rich in mineral resources, including gold, platinum, lithium, and diamonds, attracting significant local and foreign investment. This growth creates a thriving market for equipment suppliers and service providers, offering opportunities for partnerships, contracts, and increased visibility.

Mining Zimbabwe is at the forefront of promoting Zimbabwe’s mining sector at Mining Indaba by showcasing the country’s vast mineral wealth, investment opportunities, and the expertise of its mining stakeholders. The publication also creates platforms for Zimbabwean mining companies, suppliers, and service providers to connect with global investors, policymakers, and industry leaders, reinforcing Zimbabwe’s position as a critical player in Africa’s mining future.

Hard copies of the Mining Zimbabwe Magazine will be distributed at Mining Indaba 2025. To participate in the edition contact +263775523000.

Networking and Partnerships

Mining Indaba provides an unparalleled platform for networking. It connects attendees with key decision-makers, including mining executives, procurement managers, and investors. For Zimbabwean companies, this is an opportunity to establish partnerships with international equipment manufacturers and service providers who may be interested in collaborating on projects within Zimbabwe.

Gaining Insights into Trends

The global mining industry is evolving rapidly, with advancements in automation, digitalization, and sustainability reshaping operations. Participating in Mining Indaba allows Zimbabwean suppliers to stay informed about these trends and explore how they can align their offerings with the future of mining.

This is particularly important as Zimbabwe moves toward modernizing its mining operations to enhance productivity and sustainability. Suppliers who understand these trends will be better equipped to meet the needs of their clients.

Promoting Local Content

Zimbabwe has a growing focus on local content and beneficiation, encouraging domestic companies to play a larger role in the mining value chain. By attending Mining Indaba, suppliers and service providers can promote their commitment to supporting local mining operations, and fostering growth and development within the country.

Accessing Investment Opportunities

For many Zimbabwean companies, securing capital is a key challenge. Mining Indaba brings together global financiers and investors seeking opportunities in Africa. Participation in the event could lead to potential investments in expanding manufacturing capabilities, acquiring new technologies, or financing large projects.

Building Zimbabwe’s Brand

Beyond individual benefits, the collective participation of Zimbabwean suppliers and service providers at Mining Indaba strengthens the country’s brand as a serious player in the global mining sector. This can help attract further investment and partnerships across the board.

Mining Indaba 2025 offers an unmissable opportunity for Zimbabwe’s mining equipment suppliers and service providers. By participating, mining equipment suppliers and service providers can gain exposure, form connections, and contribute to the broader goal of transforming Zimbabwe into a mining powerhouse.

It’s not just an event, it’s a gateway to the future of mining in Africa.

MMCZ officially Appoints Dr. Nomusa Jane Moyo as General Manager

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MMCZ officially Appoints Dr. Nomusa Jane Moyo as General Manager

The Minerals Marketing Corporation of Zimbabwe (MMCZ) Board has announced the appointment of Dr. Nomusa Jane Moyo as the Corporation’s new General Manager, effective immediately.

MMCZ Board Chairman, Mr. Jemister Chininga, highlighted that Dr. Moyo, who has served as Acting General Manager since July 2023, brings a cumulative acting experience of four years to the role. This experience, coupled with her extensive expertise, inspired the Board’s confidence in her appointment.

As Zimbabwe’s exclusive agent for the marketing and sale of all minerals (except gold and silver), MMCZ plays a pivotal role in developing new markets for the nation’s mineral resources. The Board sees Dr. Moyo’s leadership as instrumental in driving the Corporation’s mission of maximizing returns for all stakeholders through effective mineral resource accounting and marketing.

Leadership and Experience

Dr. Moyo has 24 years of experience in public entities, having previously worked at the Zimbabwe Revenue Authority for eight years, the Grain Marketing Board for one year, and MMCZ since December 2009.

She has also served on several boards in both the private and public sectors and has extensive corporate governance expertise. Her contributions as a writer, lecturer, and presenter of corporate governance papers at local and international forums further underscore her qualifications.

“Dr. Moyo brings extensive experience and knowledge, making her well-equipped to lead MMCZ towards achieving its strategic objectives. We are confident that her leadership and expertise will guide the Corporation towards continued success, creating value for all stakeholders,” said Mr. Chininga.

Key Achievements Under Dr. Moyo’s Leadership

In 2024, MMCZ recorded significant achievements under Dr. Moyo’s guidance:

  1. 21% Increase in Mineral Sales: The Corporation achieved sales of 3.9 million metric tonnes, up from 3.2 million metric tonnes in 2023.
  2. Export Market Development: New markets were secured in Australia, China, Colombia, Burundi, and India.
  3. Curbing Mineral Leakages: Investments were made in local government laboratory equipment to improve assay and mineral characterization processes.
  4. Value Addition and Beneficiation: MMCZ established a gemstone cutting and polishing training centre at the Zimbabwe School of Mines.

Academic and Professional Credentials

Dr. Moyo is a lawyer with a Doctorate in Laws (specializing in corporate governance), a Master’s in Laws, a Bachelor of Laws, Full CIS, and a BSc Honours in Economics. She is a member of the Law Society of Zimbabwe and the Chartered Governance and Accountancy Institute of Zimbabwe.

Dr. Moyo will oversee the Corporation’s strategic direction, drive growth, and strengthen relationships with stakeholders and industry partners to ensure MMCZ’s continued success and value creation.

Gold buying prices per gram in Zimbabwe 22 January 2025

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Gold buying prices per gram in Zimbabwe 22 January 2025

These are the official gold buying prices per gram in Zimbabwe today 22 January 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$83.18/g
SG ABOVE 85% BUT BELOW 90% US$82.30g
SG ABOVE 80% BUT BELOW 85% US$81.42/g
SG ABOVE 75% BUT BELOW 80% US$80.54/g
SAMPLE BELOW 10g BUT ABOVE 5g US$79.21/g

Fire Assay CASH $83.62/g

NB: Fire Assay cash price is for gold above 100gs, no sample is deducted.
For the Fire Assay Transfer price, a sample of not more than 10g is deducted
A 2% royalty is charged on all deposits (Small-scale miners)
A 5% royalty is set for Primary Producers

Cash available. Fidelity Gold Refinery prices will be changing daily to match the world market.

Thungela Resources Welcomes Moses Madondo as Incoming CEO

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Thungela Resources Welcomes Moses Madondo as Incoming CEO

Thungela Resources has announced the appointment of Moses Madondo as its CEO designate, effective August 1.

Madondo will succeed current CEO July Ndlovu.

Madondo, a seasoned mining professional, joins Thungela with an impressive résumé, having accumulated over 25 years of experience in senior leadership roles. He currently serves as the CEO of De Beers Group Managed Operations, a position he has held since January 2022.

Beyond his operational roles, Madondo has made significant contributions to the mining sector through his involvement on several divisional boards. He has also served as a board member of the Minerals Council South Africa and Rand Refinery.

“The board welcomes and looks forward to working with Moses,” Thungela said in a statement, expressing confidence in Madondo’s ability to lead the company into its next chapter.

The company is optimistic that Madondo’s extensive experience will bring fresh insights and direction to its operations.

ZDAMWU moves to strengthen Regional Structure

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ZDAMWU moves to strengthen Regional Structure

The Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) is actively working to strengthen its regional presence by establishing structures in six key regions.

These regions include Harare, Masvingo, Mutare, Zvishavane, Kwekwe, and Hwange, with plans to complete the process by the end of the first quarter of 2025.

By Ryan Chigoche

This initiative is part of the union’s broader strategy to adapt to the ongoing transformations in Zimbabwe’s mining sector, driven by foreign investment and local expansion.

Each regional structure will feature conferences and elections, with an approximate budget of US$35,000 allocated to cover expenses such as transport, meals, and accommodation for the officials overseeing these elections.

The union’s efforts to expand its reach began last year with successful regional setups in Gwanda and Bulawayo. These initiatives form part of a larger goal to facilitate the union’s growth and improve its service to the mining workforce.

ZDAMWU’s focus for the coming year is encapsulated in the theme “The Year of Growth: Building Strong Structures for Sustainable Change.” As part of its long-term objectives, the union aims to advocate for significant changes in the mining industry’s regulatory framework, including the review of outdated laws such as the Code of Conduct (SI65 of 1992).

The union also plans to push for the alignment of the Collective Bargaining Agreement with the new Labour Amendment Act and the National Employment Council Constitution, thereby improving workers’ rights and protections.

Through these efforts, ZDAMWU seeks to solidify its position as a powerful advocate for mining workers in Zimbabwe, ensuring their rights are upheld amidst the evolving industry landscape.

Global Lithium Demand to Surge by 26% in 2025 Amid EV Market Growth

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Global Lithium Demand to Surge by 26% in 2025 Amid EV Market Growth

According to Adamas Intelligence, a Canada-based critical minerals and metals consultancy firm, demand for lithium is set to surge by 26% in 2025, driven by an anticipated rise in demand in the EV market from this year and beyond.

By Ryan Chigoche

This development follows the lacklustre performance of the global electric vehicle industry in 2024, which negatively impacted lithium demand during the period, despite the industry experiencing rapid growth in prior years.

While the EV market in the Asia-Pacific region performed well, sales growth in the Americas slowed substantially, and in Europe, it reversed, resulting in a significant slowdown in lithium demand growth. Simultaneously, the flood of new supply in recent years, which producers in Australia and elsewhere are only now fully coming to grips with, caused lithium prices to languish at levels roughly 80% below their peak.

However, Adamas Intelligence, a Toronto-based battery metals and EV consultancy anticipates an increase in lithium demand in 2025, driven by EV sales in Asia as well as a rebound in European and American markets.

“Overall, we expect global lithium demand to increase by 26% to 1.46 million tonnes in 2025 on a lithium carbonate equivalent (LCE) basis, up from an estimated 1.15 million tonnes last year. We expect Asia-Pacific, led by China, where EVs now represent more than half of all vehicle sales, to continue driving the global EV market in 2025 and beyond,” Adamas said.

“We’re also optimistic about prospects for a reacceleration of EV sales in the Americas and Europe, although the introduction of trade restrictions by the EU on made-in-China cars and the incoming Trump administration’s plans for broad trade tariffs and a rollback of climate goals are wildcards,” the consultancy firm added.

With battery material costs lower across the board, greater affordability should also support the market next year.

In 2025, Tesla aims to increase EV production by 500,000 units for the year with the release of its much-anticipated low-cost passenger car, which will be followed later by its much-touted robotaxi.

In Europe, automakers are set to face stricter CO2 standards and targets from next year, the first incremental change since 2021, spurring the expansion of more affordable mass-market EV offerings on the continent.

However, the Chinese EV market will remain the number one driver of lithium demand and should receive a boost in 2025, not only through Beijing’s broader economic stimulus program but also through ongoing incentives for Chinese buyers to switch from gasoline-powered cars.

To capitalize on the anticipated surge in lithium demand, the lithium sector in Zimbabwe expects $380 million in capital investments in 2025. Bikita Minerals is set to invest $100 million in smelters, which will boost smelting production levels by 95%. This investment is part of a larger plan by the company to invest $500 million in a lithium smelter, a key component of its long-term growth and competitiveness in the lithium market, even amid softening prices.

In addition to Bikita Minerals’ efforts, Sandawana Mines is expected to invest $280 million in a lithium concentrate processing plant, scheduled for completion by March 2026. This project is set to double production, reaching 500,000 tonnes of concentrate.

Adding to the immediate supply in the market, China, the second-largest holder of lithium reserves globally (behind Chile), recently announced a sharp increase in its own reserves, now accounting for 16.5% of the world’s total, up from just 6%.

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