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Zimbabwe gold buying prices per gram 19 June 2024

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices per gram today 19 June 2024.

SG 90% AND ABOVE US$70.61/g
SG ABOVE 85% BUT BELOW 90% US$69.87g
SG ABOVE 80% BUT BELOW 85% US$69.12/g
SG ABOVE 75% BUT BELOW 80% US$68.37/g
SAMPLE BELOW 10g BUT ABOVE 5g US$67.25g

Fire Assay CASH $70.99/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 world market prices.

Man Killed by Machete-Wielding Gang at Dhija Mining Area

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In a tragic incident at the Dhija Mining area in Shurugwi, 36-year-old Tyson Matarise was reportedly killed by a gang of nine machete-wielding individuals on Saturday.

According to Zimbabwe Republic Police (ZRP) spokesperson Paul Nyathi, Matarise was fatally stabbed with Columbia knives by the suspects.

The ZRP has identified one of the suspects as Mdhimbani, also known as Mandebele, and is urging anyone with information about the gang’s whereabouts to report to the nearest police station.

“Police in Shurugwi are investigating a murder case in which Tyson Matarise (36) was fatally stabbed in the head and back with Columbia knives by nine suspects for unknown reasons on June 15, 2024, at Dhija Mining area. One of the suspects is identified as Mdhimbani, alias Mandebele. Anyone with information should report to the nearest police station,” Nyathi said.

China’s Shanxi Province to Invest US$20 Billion in Matabeleland North Mining

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A high-level delegation from the Communist Party of China’s (CPC) Shanxi Province, led by Provincial Secretary Mr. Tang Dengjie, has committed to a substantial investment of up to US$20 billion in the Matabeleland North mining industry.

Rudairo Mapuranga

Speaking at an engagement meeting between Shanxi Province and Matabeleland North Province held at Golden Peacock Villa in Harare on Tuesday, Dengjie announced that Shanxi Province aims to attract investors willing to spend nearly 1 trillion Chinese Yuan (approximately 140 billion US Dollars) into Matabeleland North over the next two decades. Of this, close to 20 billion US Dollars will be directed towards the mining sector within the next five years.

“The CPC Shanxi Province is proud to announce that it will invest close to 1 trillion Yuan in Matabeleland North to boost the province’s economic activities,” Mr Tang Dengjie stated.

In addition to the long-term investment, the CPC Shanxi Province donated 1 million Chinese Yuan (approximately 140,000 US Dollars) to Matabeleland North as emergency relief.

Hon. Richard Moyo, Matabeleland North Minister of State for Provincial Affairs and Devolution, expressed his gratitude to the CPC Shanxi Province for their commitment.

Speaking to Mining Zimbabwe on the sidelines of the event, he emphasized the importance of Shanxi Province’s focus on exploration and the entire mining value chain in Matabeleland North. The province, rich in over 40 commercially viable minerals, currently sees active extraction of coal, lithium, copper, methane gas, gold, and chrome.

“We want to thank His Excellency, President Emmerson Dambudzo Mnangagwa, for fostering this relationship with the President of the People’s Republic of China. These benefits result from the collaboration between the two presidents. In Matabeleland North, the Chinese are mining coal, gold, and other minerals. With the new partnership between Matabeleland North and Shanxi Province, they promise to bring more investors to explore our abundant resources, including methane gas, coal, lithium, and other minerals. They are committed to investing 10 to 20 billion US dollars in the mining sector. As a province, we are extremely happy and grateful for His Excellency’s efforts,” said Hon. Richard Moyo.

Zimbabwe gold buying prices per gram 18 June 2024

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices per gram today 18 June 2024.

SG 90% AND ABOVE US$70.48/g
SG ABOVE 85% BUT BELOW 90% US$69.73g
SG ABOVE 80% BUT BELOW 85% US$68.99/g
SG ABOVE 75% BUT BELOW 80% US$68.24/g
SAMPLE BELOW 10g BUT ABOVE 5g US$67.12g

Fire Assay CASH $70.85/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 world market prices.

Cluff Africa, Mutapa Forge Path to Develop Sandawana

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Cluff Africa Ltd. has entered into a non-binding agreement with Mutapa Investment Fund to develop the Sandawana Lithium mine.

The deal assigns Cluff a 45% share of licenses at Sandawana, according to founder Algy Cluff’s statement, though financial details remain undisclosed.

Zimbabwe is actively seeking investors following a stabilization in lithium prices after a volatile boom-to-bust cycle. State miner Kuvimba Mining House has identified a substantial lithium ore resource of 38 million tons at Sandawana.

“We can now begin to develop what we believe to be a world-class, high-grade lithium resource,” Cluff stated. The company plans to start drilling once a final agreement is signed with Mutapa, though no timeline was provided.

Algy Cluff, an industry veteran, is known for his investments in Zimbabwe’s gold sector and founding Cluff Natural Resources Plc, now Deltic Energy Plc. This new venture represents a significant shift towards lithium, a mineral in high demand globally.

The Mutapa Investment Fund (MIF), which now controls Sandawana Mines after Kuvimba was placed under its jurisdiction, aims to unlock its vast lithium resources through Build-Operate-Transfer (BOT) and Joint Venture partnerships. Sandawana Mines, with an estimated 200 million tonnes of lithium resources, is poised to become one of Africa’s largest lithium assets.

By partnering with investors, MIF seeks to inject new capital, expertise, and technology into the project to ensure efficient lithium extraction and processing. MIF CEO Dr. John Mangudya emphasized the strategic partnerships for exploiting Sandawana’s lithium resources. “The Fund has made a decision for investors to partner with us on BOT and Joint Venture arrangements to exploit the excellent lithium resources at Sandawana.”

Sandawana Mine has accumulated approximately 950,000 tonnes of stockpiled lithium, much of which is processed into lithium concentrate for the international market. Recent activities include the sale of 150,000 tonnes of lithium, with exports expected to rise in the coming months.

Last year, Sandawana Mines announced over US$50 million investment in an exploratory campaign involving Chinese and local firms. The lithium purity stands at around 1.4%, which is considered high by international standards.

As Zimbabwe’s wealth fund, which also holds gold, nickel, and platinum mines, continues to draw interest from global investors, the collaboration with Cluff Africa marks a significant step in positioning Sandawana as a major player in the lithium market.

Prospect Discovers High-Grade Copper at Mumbezhi Project

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Prospect Resources has identified wide, high-grade copper intercepts at the Nyungu Central deposit in its Mumbezhi Project, Zambia. The company is targeting a maiden JORC resource by Q4 2024 and has commenced drilling activities.

By Patricia Rwafa

As released on 17 June 2024, the historical drill data sets have also now been validated by Prospect, including significant intersections previously reported for Nyungu Central.

Significant new intersections from that drill programme (undertaken in 2021) include:
– 38.0m @ 0.87% Cu from 101.0m and 32.0m @ 0.68% Cu from 159.0m (NYDD058)
– 32.0m @ 0.87% Cu from 353.0m and 28.1m @ 0.79% Cu from 103.0m (NYDD062)
– 20.0m @ 1.08% Cu from 27.0m (NYDD054)
– 17.0m @ 1.03% Cu from 29.0m (NYDD055)

These results show similar widths and tenors of copper grades to other historical Mumbezhi data sets, providing further confidence in the overall productivity of the Nyungu deposits.

Other historical drill data sets have also now been validated by Prospect, including significant intersections previously reported for Nyungu Central such as:
– 30.0m @ 1.62% Cu from 174.0m incl. 6.0m @ 5.50% Cu from 174.0m (NYU11RD021)
– 31.0m @ 1.06% Cu from 166.0m (NYU11RD010)
– 44.5m @ 0.96% Cu from 177.0m (NYRD046)
– 76.1m @ 0.60% Cu from 216.9m incl. 35.1m @ 0.77% Cu from 216.9m (NYRD031)
– 148.0m @ 0.35% Cu from 16.0m (MBD01RC002)

Prospect is targeting the declaration of a maiden JORC-reportable Copper Mineral Resource for Mumbezhi (Nyungu deposits) during Q4 2024.

Field activities have commenced with site access and associated infrastructure being established. First-phase RC and diamond drilling are expected to begin in the next few weeks. Environmental and Social Impact Assessment (ESIA) studies have also commenced.

Prospect’s Managing Director and CEO, Sam Hosack, commented:

“Wide, strongly mineralized copper intercepts are a hallmark of the Nyungu deposits, and these newly released results again confirm the outstanding prospectivity of this land package.

The further we progress in our initial post-purchase evaluation of Mumbezhi, the more evident are key facets of a potentially high-value, long-life, open-pittable copper-cobalt mining and processing operation, with regionally favourable metallurgy and significant exploration upside.

Prior to completion, the Mumbezhi Licence was transferred to our new Zambian subsidiary, Osprey Resources Ltd (85% Prospect), and we are now proceeding to unlock Mumbezhi’s potential. With the strong backdrop provided by the global copper market, Prospect is well-positioned and capitalized to rapidly advance Mumbezhi. We are eagerly anticipating the commencement of our first drill programme there in the next few weeks.”

Government, ZMF to Host Stakeholders Meeting on Thursday in Kadoma

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The Ministry of Mines and Mining Development, Mashonaland West Province, and the Ministry of State for Mashonaland West Province, in collaboration with the Zimbabwe Miners Federation (ZMF), Mashonaland West Province, are set to host a crucial mining stakeholders workshop this Thursday at Highbury Lounge in Kadoma.

By Rudairo Mapuranga

According to the concept note of the proposed workshop, the primary aim is to foster meaningful discussions among mining sector stakeholders, focusing on their expectations from the government, including various Ministries, Departments, and Agencies (MDAs), as well as industry and commerce representatives.

The workshop is part of an initiative to bolster stakeholders’ knowledge and expertise in government protocol and the Whole of Government Approach (WoGA) concept. It is organized by the Office of the Minister of State for Provincial Affairs and Devolution, Mashonaland West Province, in conjunction with the Ministry of Mines and Mining Development, Mashonaland West Provincial Mining Office, and the Zimbabwe Miners Federation, Mashonaland West Chapter.

“As part of its objective to strengthen stakeholders’ knowledge and expertise in the area of government protocol, and in turn the Whole of Government Approach (WoGA) concept, the Office of the Minister of State for Provincial Affairs and Devolution, Mashonaland West Province, the Ministry of Mines and Mining Development, Mashonaland West Provincial Mining Office, and the Zimbabwe Miners Federation, Mashonaland West Chapter will be conducting a workshop on how to promote ease of doing business in the mining sector in Mashonaland West Province.

“The purpose of this workshop is to provide an opportunity for mining sector stakeholders to engage in meaningful discussions on expectations from the government (Ministries, Departments, and Agencies – MDAs), miners, industry, and commerce).

“The workshop brings together various stakeholders from the mining sector relevant to mining project implementation, regulatory agencies, and business partners. Participants will be drawn from:
– Government Ministries, Departments, and Agencies
– Rural District Councils (RDCs)
– Mining organizations/associations (ZMF, Chamber of Mines of Zimbabwe)
– Special Interest Groups (People living with disabilities, Youths in Mining, Women in Mining)

“The workshop has been necessitated by the following objectives, among others:
– Identifying areas to enhance the ease of doing business in the mining sector between government MDAs and miners/investors.
– Identifying ways to improve the Whole of Government Approach among government MDAs regulating the mining sector.
– Identifying bottlenecks in service delivery to facilitate economic growth and development.
– Transforming bureaucratic inertia into business and promoting service delivery that is citizen-centric.

“A workshop report with recommendations on how to improve the ease of doing business within the mining sector,” reads the concept note in part.

Zimbabwe gold buying prices per gram 17 June 2024

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices per gram today 17 June 2024.

SG 90% AND ABOVE US$70.80/g
SG ABOVE 85% BUT BELOW 90% US$70.05g
SG ABOVE 80% BUT BELOW 85% US$69.30/g
SG ABOVE 75% BUT BELOW 80% US$68.55/g
SAMPLE BELOW 10g BUT ABOVE 5g US$67.43g

Fire Assay CASH $71.17/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 world market prices.

IPEC Approves Mimosa Pension Fund’s Compensation Plan for Pre-2009 Losses

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The Insurance and Pensions Commission (IPEC) has given the green light to Mimosa Pension Fund’s compensation plan for pre-2009 losses, following adherence to the mandates of Statutory Instrument 162 of 2023.

This Statutory Instrument, enacted on September 29, 2023, and effective from October 1, 2023, requires pension funds and life insurers to provide compensation to pensioners and policyholders at a compounded interest rate of 3 per cent.

During the hyperinflation period leading up to February 2009, many pension contributions and savings suffered significant value erosion.

In its statement, IPEC confirmed that Mimosa Pension Fund’s compliance allows the fund to begin the compensation process.

“Upon approval of a compensation scheme, the pension fund will inform eligible members about the payment procedures. Meanwhile, IPEC is actively assisting other funds nearing compliance with the compensation regulations to ensure their schemes are also approved,” the statement explained.

The Commission is also pursuing criminal charges against entities failing to meet the requirements set out in Statutory Instrument 162 of 2023.

Interview: Intrachem’s Managing Director – Darryn Brider

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Who is Darryn Brider and what is your role at Intrachem?

I’m a Zimbabwean born and bred, with my career starting in finance-focused roles and then working my way up, eventually, to Managing Director at Intrachem. First and foremost, my role at Intrachem is being the custodian and promoter of the company’s values, with safety as our first priority. I’m incredibly proud to be a Zimbabwean leading the only major local explosives manufacturing company, particularly with our achievements to date, while up against foreign powerhouses of the industry.

What sets Intrachem apart from other suppliers in terms of product quality and service offerings?

As a Zimbabwean business, Intrachem offers the best of both worlds when you combine our local mining industry
knowledge and understanding with the technology partnerships we have with industry leaders such as Austin Powder, Sasol Dyno Nobel, Enaex and Famesa, just to name a few. Add in our local footprint, skilled resources and capabilities and you end up with an offering of world-class, safe and reliable products and second-to-none services from a highly trained, customer-focused local technical support team around the clock.

How does Intrachem address the affordability of explosives and related products for artisanal and small-scale miners, who may have limited financial resources compared to larger mining companies?

At Intrachem we cater for the entire industry, including small-scale miners, and while fair and affordable pricing is always a key consideration, one we generally achieve, our primary focus is always providing safe and reliable products to ASMs.Artisanal miners often work under challenging conditions with limited resources.

How does Intrachem support these miners in adopting best practices for explosives handling and blasting techniques?

As mentioned already, safety is our first priority and we try to incorporate this value to all stakeholders we reach within the industry. For the last 18 months, we have implemented outreach programs whereby we host safety awareness open days for ASMs, at which we hold presentations from our trained and qualified professional team on safe storage, transportation and usage of explosives. Soon we shall also be releasing videos with similar content to social media platforms in the hopes of reaching and educating a wider ASM audience.

Tell us five reasons why Miners/ Mining Companies should consider Intrachem Explosives

Safety, quality, reliability, value and efficiency, although these five attributes alone don’t sum it up, we’re not just suppliers; we aim to be partners in progress and want to translate these attributes into quantifiable benefits to our customers.

Intrachem prides itself on being the only explosives supplier in Zimbabwe that guarantees the supply of quality capped fuses and igniter cords, among other products. How do you manage to maintain this unique offering in the market?

Again, this comes down to our local mining industry knowledge and understanding and linking up with technology partnerships with global explosives industry leaders. Through our experience over many years in the market, we’ve managed to zero in on the best quality products from around the world, including capped fuses and ignitor cords, and add them to the local market offering. Thereafter, our adherence to safe, sustainable and lawful handling of explosives has aided Intrachem in standing the test of time as the local industry leader.

There have been reports of laxity in explosives controls and explosives ending up getting into the wrong hands and some ending up being smuggled to neighbouring countries. What role can explosives suppliers play in curbing this practice and what is Intrachem doing to assist the government efforts?

This is a major concern within the explosives industry worldwide and the solution should always lie, in part, with the explosives manufacturers and suppliers. Intrachem adheres to the laws and regulatory requirements outlined in the Explosives Act and explosives regulations, this includes selling only to permitted and licensed buyers, mitigating the risk of unauthorized access to its explosives, thereby safeguarding both public safety and regulatory compliance. We also maintain regular engagement with the relevant Government Departments in an effort to proffer any assistance we can by way of our expertise and wide-reaching industry footprint.

What are some of the strategies for managing risk and ensuring the safety of your employees and customers?

Holding safety as a first priority in everything we do has developed a culture within the business, which is a huge part of our strategy to “create and maintain a safety culture”. At Intrachem we start every task, meeting or project with safety as the first topic addressed. Regular safety training and reporting form a large part of all job descriptions within the company and we ensure that everyone within the Intrachem family is adequately equipped to tackle required tasks safely and effectively.

Could you elaborate on Intrachem’s commitment to sustainability and environmental stewardship in the context of manufacturing and supplying explosives? What initiatives or practices has the company adopted to minimize its environmental footprint?

Our Company Mission is “To improve the world we live in through the safe and responsible use of explosives,” which is exactly what we aim for in the areas of sustainability and environmental stewardship. In conjunction with one of our shareholders and global industry leaders, we have just commenced our journey on an ESG (environmental & Social Governance) plan, which will be sure to see us ever improving in the way we
manufacture and use our products, impact the communities in which we work and hopefully have this rub off on anyone within the industries and sectors we work with.

Please tell us about the relationship with Austin Powder and how it has helped your company and the Zimbabwean Mining Industry.

With Intrachem’s history of partnership with major industry players like Sasol Dyno Nobel, Enaex, and FAMESA, how does the company leverage these partnerships to drive innovation and product development?

Austin Powder is one of the leading companies globally within the explosives industry and through their shareholding in Intrachem, they’ve provided us with the additional skills, technology and mentorship to reach the next level within the Zimbabwean industry. Partnering with Austin Powder and the other global industry giants you mentioned has helped Intrachem massively in keeping abreast of the newest and best innovations and
technology in explosives and explosives applications, thereby helping us bring more value and efficiencies to the local mining and blasting community.

Looking ahead, what are Intrachem’s strategic priorities and growth plans for the next five years? How does the company plan to capitalize on emerging opportunities in the mining, quarrying, and manufacturing sectors in Zimbabwe and beyond?

In the immediate term, growing our footprint in the Zimbabwean market is our top focus, with our major goal being to penetrate the underground market by way of one of the large PGM mines. We are fully confident we are equipped on all levels to fulfil any of their requirements and are relishing the chance to do so! In the medium term, we are looking to imminently expand our portfolio of locally manufactured products which is incredibly exciting. Then looking further ahead, in conjunction with Austin Powder, we are assessing ways in which we can get footholds across our borders and into the sub-Saharan regional market.

How is the local community benefiting from your operations?

The major impact we’ve had to date is through the employment of people from local communities in which we operate, most pertinently within our Kwekwe Manufacturing Plant where the entirety of the team complement are born and raised in the surrounding area. Looking ahead though, we’re developing a more comprehensive strategy within the scope of our progressing ESG plan, whereby we aim to assist local communities surrounding our operations more directly.

If you are made Mines and Mining Development Minister today what will you immediately change (add or remove) in the Explosive Act?

Speaking purely from my perspective within the explosives industry, enhancing safety would be key on my agenda for immediate impact, resourcing the authorities to improve enforcing compliance among explosives companies and ensuring the rules and laws of the Explosives Act are upheld for the betterment and safety of the industry as a whole. At the end of the day, safety is our first priority.