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Gold Deliveries Decline Over 9% in November, Large-Scale Mines Sees Growth

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Gold Deliveries Decline Over 9% in November, Large-Scale Mines Sees Growth

Gold deliveries to Zimbabwe’s sole authorized buyer and exporter, Fidelity Gold Refinery (FGR), decreased by 9.65% in November compared to October, Mining Zimbabwe can report.

By Rudairo Mapuranga

In November, small-scale miners contributed 2,639.7751 kilograms of gold, a 16% decrease from the 3,143.1645 kilograms delivered in October. Large-scale miners, however, recorded a 9.94% increase, delivering 1,126.3594 kilograms in November, up from 1,024.6346 kilograms in October. Total gold deliveries for November amounted to 3,766.1345 kilograms, reflecting a decline from October’s total of 4,167.7995 kilograms.

From January to November 2024, small-scale miners delivered a cumulative total of 20,321.2496 kilograms, while large-scale miners contributed 11,706.5933 kilograms. This brought the combined total to 32,027.8429 kilograms, underscoring the dominance of small-scale miners, who account for nearly two-thirds of Zimbabwe’s gold output.

October Performance Outshines November

The November decline contrasts with October’s strong performance, where gold deliveries surged by approximately 22% compared to September. This growth was largely driven by a 30.7% increase in contributions from artisanal and small-scale miners (ASM), which reached 3,143.1649 kilograms in October. Deliveries from large-scale miners also rose modestly by 1.5% in October, totalling 1,024.6346 kilograms.

Overall, October’s total gold production climbed to 4,167.7995 kilograms from September’s 3,414.1914 kilograms. This marked an impressive month-on-month increase driven by both ASM and large-scale mining sectors.

Year-to-Date Trends and Sector Volatility

Throughout 2024, gold deliveries have demonstrated significant volatility. For example, in August, deliveries rose by about 36% from July, primarily due to a 42.7% increase in ASM contributions. Total deliveries in August reached 3,400.3442 kilograms, up from 2,495.0803 kilograms in July. Large-scale miners also saw a 10.6% rise in contributions during this period.

The second quarter of 2024 saw a notable 28% increase in gold deliveries compared to the first quarter, with ASM accounting for a 55.6% surge. This consistent performance by ASM highlights its critical role in driving Zimbabwe’s gold production, although the sector faces challenges such as rising operational costs and unfavourable government currency policies.

Challenges and Outlook

Despite November’s decline, the overall gold sector remains resilient. The year-to-date performance has outpaced previous years, but the sector faces sustainability concerns, especially among small-scale miners who are grappling with operational challenges. In 2023, gold deliveries dropped by 15% due to similar difficulties, but 2024 has shown a robust rebound.

Stakeholders in Zimbabwe’s gold industry are optimistic about sustaining production levels into 2025. Efforts to address the challenges faced by both ASM and large-scale miners, particularly through supportive policies and improved mining practices, will be crucial for the sector’s continued growth.

Gold buying prices per gram in Zimbabwe 5 December 2024

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Gold buying prices per gram in Zimbabwe 5 December 2024

These are the official gold buying prices per gram in Zimbabwe today 5 December 2024, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$80.47/g
SG ABOVE 85% BUT BELOW 90% US$79.62g
SG ABOVE 80% BUT BELOW 85% US$78.76/g
SG ABOVE 75% BUT BELOW 80% US$77.91/g
SAMPLE BELOW 10g BUT ABOVE 5g US$76.64/g

Fire Assay CASH $80.89/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.

Mining Opportunities in Hurungwe

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Mining Opportunities in Hurungwe

Hurungwe District, located in the Mashonaland West Province of Zimbabwe, is endowed with a diverse array of minerals, making it an attractive destination for mining investment. From gemstones to industrial minerals and precious metals, Hurungwe holds untapped potential that could significantly contribute to Zimbabwe’s mining sector and economy.

Minerals Found in Hurungwe

  1. Gold
    Like every district in Zimbabwe, Hurungwe has gold deposits. This presents opportunities for both small-scale and large-scale mining ventures, catering to the ever-growing demand for this precious metal.
  2. Coal
    Hurungwe hosts coal deposits, a critical resource for energy production and industrial processes. Investment in coal mining can contribute to the district’s energy security and supply thermal power plants across Zimbabwe.
  3. Amethyst
    Amethyst, a valuable gemstone, is present in Hurungwe. This creates opportunities for artisanal and small-scale mining focused on the gemstone market, with potential for export earnings.
  4. Emeralds
    The presence of emeralds in Hurungwe positions the district as a key player in Zimbabwe’s gemstone mining sector. These high-value gemstones hold significant potential for export and jewelry manufacturing.
  5. Graphite
    Graphite deposits in Hurungwe offer opportunities to tap into the global market for this critical mineral, used in battery production, refractories, and lubricants. The increasing demand for graphite in green energy technologies makes this resource highly lucrative.
  6. Tin
    Tin mining opportunities in Hurungwe are promising, especially with the global demand for tin in electronics manufacturing. Investments in tin mining and processing can position the district as a supplier of this vital mineral.
  7. Tungsten
    Known for its high melting point and industrial applications, tungsten deposits in Hurungwe could attract investments in mining and export markets.
  8. Diatomite
    Hurungwe’s diatomite reserves are a valuable resource for the filtration, agriculture, and construction industries. This industrial mineral can be leveraged for both domestic and international markets.
  9. Beryl and Tantalum
    Hurungwe is also rich in beryl and tantalum, both used in high-tech industries such as electronics and aerospace. These minerals offer opportunities to attract investors seeking materials for high-demand technological applications.
  10. Garnet and Topaz
    Garnet and topaz, found in Hurungwe, are sought-after gemstones. These minerals present opportunities for artisanal mining and niche markets in the global jewellery industry.
  11. Sillimanite
    This industrial mineral is used in refractory and ceramic products, offering opportunities for value-added processing in Hurungwe.
  12. Kainite
    With applications in agriculture and industrial sectors, kainite deposits in Hurungwe are ripe for exploitation to support local and regional industries.

Opportunities for Investment

  • Exploration and Mining Operations: With its vast mineral resources, Hurungwe presents a prime location for exploration and mining ventures targeting both local and export markets.
  • Processing Facilities: Establishing beneficiation and value-adding facilities for minerals like graphite, tantalum, and gemstones could increase the district’s economic output.
  • Infrastructure Development: Investments in transport and energy infrastructure to support mining operations can further unlock Hurungwe’s potential.
  • Community Partnerships: Collaborative projects that involve local communities ensure inclusive growth and long-term sustainability of mining operations.

Challenges and Mitigation

While Hurungwe’s mineral wealth is promising, challenges such as lack of advanced infrastructure, fluctuating global commodity prices, and environmental concerns must be addressed. Solutions include:

  • Partnering with government bodies to streamline mining regulations.
  • Adopting sustainable mining practices to minimize environmental impact.
  • Investing in local workforce training to build mining expertise.

Hurungwe is a district rich in opportunities for mining and mineral development. Its diverse mineral portfolio, ranging from precious metals and gemstones to industrial minerals, positions it as a strategic hub for mining investments. By leveraging its resources sustainably and fostering partnerships, Hurungwe can unlock its full potential, contributing significantly to Zimbabwe’s economic growth.

Investors, miners, and stakeholders are encouraged to explore the untapped opportunities in Hurungwe and be part of its transformation into a mining powerhouse.

Chitando appoints new board members to the MMCZ Board

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Chitando appoints new board members to the MMCZ Board

Mines and Mining Development Minister, Hon. Winston Chitando, has appointed Mrs Patricia Bwerinofa and Mrs Thandiwe Thando Mlobane to the Minerals Marketing Corporation of Zimbabwe (MMCZ) board effective November 19, 2024.

According to the MMCZ, the strategic addition is expected to enhance the board’s capacity to provide expert guidance, leveraging their combined expertise in public sector accounting and corporate governance.

As the Corporation plays a vital role in marketing and selling Zimbabwe’s minerals, this appointment is crucial for the country’s mining sector development.

More to follow…

Gold buying prices per gram in Zimbabwe 4 December 2024

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Gold buying prices per gram in Zimbabwe 4 December 2024

These are the official gold buying prices per gram in Zimbabwe today 4 December 2024, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$80.22/g
SG ABOVE 85% BUT BELOW 90% US$79.38g
SG ABOVE 80% BUT BELOW 85% US$78.53/g
SG ABOVE 75% BUT BELOW 80% US$77.68/g
SAMPLE BELOW 10g BUT ABOVE 5g US$76.40/g

Fire Assay CASH $80.65/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.

Mining Opportunities in Mberengwa

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Mining Opportunities in Mberengwa

Mberengwa District, located in Zimbabwe’s Midlands Province, is a treasure trove of mineral resources, offering exceptional opportunities for investment in the mining sector. The district boasts a wide variety of minerals critical to domestic industries and global markets, making it a hotspot for mining activities.

Key Minerals Found in Mberengwa

  1. Gold
    Gold is present in every district of Zimbabwe, including Mberengwa. This valuable resource attracts artisanal miners and large-scale operations alike. Expanding production and investing in processing facilities can enhance the value of this commodity.
  2. Chrome
    Mberengwa is one of Zimbabwe’s key chromium-producing regions. Chromium is critical for stainless steel production, making it a sought-after mineral for both local beneficiation and export.
  3. Asbestos
    Asbestos deposits in Mberengwa have historically supported Zimbabwe’s construction and industrial sectors. While the global use of asbestos is declining, modern, safer applications and export opportunities still exist.
  4. Emeralds
    Mberengwa is among the few districts in Zimbabwe with emerald deposits. These gemstones hold significant potential for artisanal mining and high-value exports.
  5. Iron
    Iron ore from Mberengwa is crucial for Zimbabwe’s steel industry. Investing in iron extraction and processing can boost the district’s economic contributions.
  6. Limestone
    Limestone, found in abundance in Mberengwa, is vital for cement production. The growing construction industry in Zimbabwe provides a ready market for this resource.
  7. Magnetite
    Magnetite deposits are important for both steel production and industrial applications. These resources can attract value-added projects in mineral processing.
  8. Antimony and Beryl
    Mberengwa also has deposits of antimony and beryl, used in various industrial and technological applications. These minerals can open niche markets in global supply chains.
  9. Talc
    Talc from Mberengwa can be utilized in cosmetics, ceramics, and industrial applications, presenting opportunities for export-driven ventures.
  10. Tantalum and Tungsten
    Known for their high value in electronics and aerospace industries, tantalum and tungsten deposits in Mberengwa offer prospects for targeted mining initiatives.
  11. Lead and Zinc
    Lead and zinc deposits in the district present opportunities for metal refining and export.

Strategic Advantages of Mberengwa

  • Diverse Mineral Portfolio: The wide variety of minerals in Mberengwa ensures that investors can focus on multiple commodities to maximize returns.
  • Proximity to Markets: Located in the Midlands, Mberengwa has access to key infrastructure, including transport links to Harare, Beitbridge and Bulawayo, enabling efficient supply chains.
  • Skilled Workforce: A history of mining in the region has cultivated a pool of experienced miners and professionals.

Challenges and Solutions

While Mberengwa holds significant potential, challenges such as fluctuating global commodity prices, regulatory compliance, and sustainable mining practices need attention. Solutions include:

  • Partnerships with local communities to ensure shared benefits.
  • Investment in sustainable technologies to minimize environmental impact.
  • Government support for streamlined licensing processes.

Mberengwa’s mineral wealth positions it as a key player in Zimbabwe’s mining sector. With its abundance of high-value minerals and strategic location, the district offers vast opportunities for local and international investors. Focused efforts on sustainable and value-added mining practices can transform Mberengwa into a hub for mining excellence, driving economic growth and development.

Investors are encouraged to explore Mberengwa’s potential and contribute to unlocking the district’s mineral wealth.

China’s Ban on Key High-Tech Materials Exports, A Looming Crisis for U.S. Industries?

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China’s Ban on Key High-Tech Materials Exports, A Looming Crisis for U.S. Industries?

China has banned the export of critical high-tech materials, including gallium, germanium, antimony, and other essential minerals, to the United States. These materials are pivotal to industries such as electronics, semiconductors, renewable energy, and defence, Mining Zimbabwe reports.

By Rudairo Mapuranga

The ban has already sparked concerns about its impact on global supply chains and the future of technological innovation in the U.S.

Gallium, germanium, and antimony are crucial for producing semiconductors, smartphones, solar panels, and night vision technology. The U.S. tech and defence industries, which heavily rely on these minerals, may face significant disruptions.

According to Guillermo Farrell, a news analyst:

“China’s mineral export ban is a tech cold war power move: gallium, germanium, and antimony—key to U.S. semiconductors—off the table. The global supply chain scramble has begun. Trade wars aren’t fought with tariffs anymore, they’re fought with the periodic table.”

With China producing about 98% of global gallium and 60% of germanium, the ban could create shortages, drive up prices, and delay production in industries reliant on these materials. Companies might struggle to meet demand, affecting everything from consumer electronics to military hardware.

The global supply chain remains heavily dependent on China for these minerals. The U.S. has limited domestic production of gallium and germanium, meaning it must either seek alternative sources or develop its own to reduce dependency on Chinese exports. However, this is easier said than done.

Some experts argue that while alternative sources exist, such as gallium being a byproduct of aluminium production and germanium from zinc, they are not sufficient to replace China’s output. A mining expert noted:
“Gallium from aluminium and germanium from zinc have many sources, but the infrastructure isn’t in place to recover them at scale. We’ll see a surge in recovery efforts as prices increase, but it won’t be an overnight fix.”

The ban could profoundly impact the timeline for technological innovation in the U.S., particularly in critical sectors like artificial intelligence, advanced computing, and defence. As Daniel Jeffries, a U.S. futurist, points out:
“We use these materials in chips, phones, nukes, night vision goggles, and more. If China continues to tighten control over these exports, it could cripple key industries.”

This also raises geopolitical concerns, especially as China works to reduce its reliance on Western technology and infrastructure. The ongoing “chip wars” have already seen tit-for-tat actions, with the U.S. restricting exports of high-tech chips to China. According to Jeffries, China is now focused on “recreating the global chip pipeline,” a process that will take time but could eventually isolate U.S. tech companies from critical resources.

Many experts believe this move by China could be a direct response to past U.S. tariffs and sanctions on Chinese tech products, particularly during the Trump administration. The question now is whether this will trigger another round of trade conflicts between the two global superpowers.

When asked about this possibility, some industry analysts were cautious:

“It’s too early to say anything with certainty. However, tensions are rising, and we may very well see another trade war similar to the one we witnessed during Trump’s presidency,” one expert commented.

With Donald Trump winning his second term as U.S. President, any policy shifts could further escalate tensions between Washington and Beijing.

As China tightens its grip on the supply of critical materials, the U.S. and other nations face the challenge of adapting to this new reality. Farrell emphasizes:

“The chip wars are forcing China to recreate the global chip pipeline. It will take time, but they will do it. Then what’s to stop them from using their control over high-tech materials as leverage in other geopolitical issues?”

The impact of this ban will likely be felt for years, with industries, governments, and investors scrambling to find solutions. One thing is clear: the race for critical minerals is on, and the outcome will shape the future of technology and global power dynamics.

Gold buying prices per gram in Zimbabwe 3 December 2024

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Gold buying prices per gram in Zimbabwe 3 December 2024

These are the official gold buying prices per gram in Zimbabwe today 3 December 2024, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$80.27/g
SG ABOVE 85% BUT BELOW 90% US$79.42g
SG ABOVE 80% BUT BELOW 85% US$78.57/g
SG ABOVE 75% BUT BELOW 80% US$77.72/g
SAMPLE BELOW 10g BUT ABOVE 5g US$76.45/g

Fire Assay CASH $80.69/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.

Chikonzo appointed to African Women in Mining Association Board

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Chikonzo appointed to African Women in Mining Association Board

The Zimbabwe Association of Women in Mining (ZAWIMA) has announced that its Chairperson, Ms Kundai Chikonzo, has been appointed as a board member of the African Women in Mining Association (AWIMA). This significant appointment underscores ZAWIMA’s growing influence in Africa’s mining sector, Mining Zimbabwe reports.

By Hazel Gara

Ms. Chikonzo, the inaugural Chairperson of ZAWIMA, has made remarkable strides in representing women in both small-scale and large-scale mining. Her leadership skills and achievements in Zimbabwe’s mining industry earned her this prestigious nomination to the AWIMA board. She has become a strong advocate for amplifying women’s voices in Zimbabwe and across the Southern African region.

A shareholder in Chete Tee Consults and the General Manager of Hawkline Private Limited, Ms. Chikonzo is a passionate and ambitious leader committed to championing women’s empowerment in the mining sector. She holds a degree in Accounting from Great Zimbabwe University, and her leadership in ZAWIMA has significantly impacted the mining industry, successfully guiding both men and women under her stewardship.

Her new role with AWIMA is a source of pride for ZAWIMA, as Ms Chikonzo seeks to create more employment opportunities for women at the grassroots level in both small-scale and large-scale mining. She also envisions promoting responsible sourcing practices in alignment with the OECD guidelines for gold and critical minerals.

AWIMA is a network organization encompassing Southern, Central, Western, Eastern, and Northern Africa. It advocates for the participation, representation, leadership, and inclusive empowerment of women in the continent’s extractive sector.

Copper Discoveries Declining Despite Rising Exploration Budgets

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Copper Discoveries Declining Despite Rising Exploration Budgets

Over the past three decades, the copper mining industry has witnessed a troubling trend: the number of major copper discoveries has sharply declined, despite a significant rise in exploration budgets, Mining Zimbabwe reports.

By Rudairo Mapuranga

This paradox, highlighted in recent industry data from a copper market trend analysis, underscores the growing challenges in identifying new copper deposits and raises concerns about the future supply of one of the world’s most essential metals.

In the 1990s, the copper industry thrived in terms of discoveries. During this period, exploration activities yielded many major copper finds, with some years producing as many as 16 large discoveries. It was a golden era for copper exploration, where modest budgets delivered substantial rewards.

However, this pattern began to shift in the early 2000s, as the number of major discoveries steadily declined. While the early 2000s still saw some notable finds, the end of the decade marked an alarming drop in new discoveries. Despite occasional spikes in exploration success—such as a brief resurgence around 2005—the overall trend has remained downward.

Ironically, this decline in discoveries coincided with a sharp increase in exploration budgets. From the late 2000s, spending rose significantly, peaking around 2012 when the industry allocated nearly $4.5 billion annually to copper exploration. Yet, despite this substantial investment, the number of major copper finds failed to match the scale of spending. In fact, during the years of highest expenditure, fewer copper deposits were discovered than during the low-budget days of the 1990s.

This disconnect between investment and discovery is troubling for several reasons. Firstly, it suggests that the most accessible and easily exploitable copper deposits may have already been found. As companies expand exploration into more remote and geologically complex areas, costs rise dramatically. Simply put, exploration is becoming more expensive, while the rewards are diminishing.

Another contributing factor is the increased difficulty of exploration due to stringent environmental regulations and growing opposition from local communities. New mining projects often face lengthy permitting processes and resistance from stakeholders concerned about the environmental impact of mining activities. This adds another layer of complexity and cost to exploration efforts.

Moreover, as the industry ventures into less accessible areas, it faces not only geographical challenges but also technological ones. The next generation of copper mines may require advanced technologies to explore deeper or less conventional ore bodies, further increasing the risk and expense of these projects.

Despite these challenges, demand for copper continues to grow. The metal is a critical component in renewable energy infrastructure, electric vehicles, and global electrification efforts. The transition to a low-carbon economy depends heavily on a stable and increasing supply of copper, yet the declining rate of discoveries threatens to disrupt this supply chain. Rising demand could lead to a significant supply gap, driving up copper prices and increasing market volatility.

This situation poses a dilemma for the copper mining sector. Companies may need to rethink their strategies, placing greater emphasis on maximizing the potential of existing mines and improving recycling techniques. While exploration remains crucial, there is a growing need for innovation in mining technologies to enable the cost-effective and sustainable extraction of harder-to-reach copper resources.

In conclusion, the data paints a concerning picture of the future of copper exploration. Although companies are investing more in the search for new copper deposits, the returns on these investments are diminishing. The industry is entering an era where finding new copper resources will be more challenging and expensive than ever, potentially reshaping the global supply of this vital metal. Without major new discoveries, the sector may increasingly rely on recycling and technological innovation to meet the growing demand for copper in the years ahead.

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