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Mukuyu-2 fluid sampling commences following a minor setback

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Mukuyu-2 fluid sampling commences following a minor setback

Australia Stock Exchange-listed oil and gas exploration junior Invictus Energy is preparing to commence sampling operations following the completion of tool checks at its Mukuyu-2 well in Muzarabani, the company’s Managing Director Scott MacMillan has announced.

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According to MacMillan, the project’s fluid sampling operation experienced a minor delay due to a failure of primary and backup sampling tools.

MacMillan said the replacement parts have now arrived on site and additional backup has been mobilised over the weekend.

“Our fluid sampling operation has experienced a minor delay following the commencement of pipe conveyed logging operations due to a failure of the primary and backup sampling tools which occurred during the sample cleanup (removal of drilling mud filtrate from the reservoir to obtain a clean and representative fluid sample).

“The necessary replacement parts have now arrived on site and additional backups have been mobilised over the weekend. We are preparing to commence running in the hole imminently to continue sampling operations following the completion of tool checks.

“The Company will provide an update once the sampling operation has been concluded,” MacMillan said.

Zim Gemstones’ potential to become a Billion dollar industry

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Zim Gemstones’ potential to become a Billion dollar industry

The semi-precious and coloured gemstones industry has the potential to become a multi-billion dollar industry if the vision of players in the sector is to be adopted and polished for implementation, CT Mining CEO Brandon Thom has said.

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According to Thom, the country should come up with a market and beneficiation centre where gemstones are traded freely and openly and can replicate China’s Wuzhou Gemstone City which is currently averaging an annual revenue of nearly US$8 billion.

Thom said Zimbabwe has the advantage of being able to produce the stones therefore setting up a gemstone hub was going to be of significance for the country’s economic growth and development.

“First as a Zimbabwean, I should appreciate that we are net producers of these products, therefore product beneficiation should come into play. We can appreciate the value after beneficiation, the market is there and the appetite is there. This is a multi-million dollar industry at current but through beneficiation, we can scale it up to over a billion. There is a province in China which was built on a billion dollar gap (gemstones), there are not even producers but have an established a market,” Thom said.

Gemstone processing has a history of more than 20 years in Wuzhou. The city produces Cubic zirconia, corundum, spinel,

Karo donates 223 fruit trees

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Karo donates 223 fruit trees

As part of its Environmental, Social and Governance (ESG) initiatives, Victoria Falls Stock Exchange listed Karo Mining Holdings’ Karo Platinum Mine has provided 223 fruit tree saplings to Katawa Primary School equivalent to one for each student.

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Karo aims to enhance tree cover in the area while benefiting pupils from the school with a reliable source of vitamins.

“Karo mine committed itself to help Katawa Primary School situated in ward 26 of the Chegutu Rural District Council within the boundaries of its mining lease area. The aim is to enhance the tree cover in the area while benefiting the students with a reliable source of vitamins and generating revenue for the school. As part of this commitment, Karo has provided 223 fruit tree saplings to the school, equivalent to one for each student. This initiative reflects our dedication to environmental, social and governance (ESG) principles and our commitment to local investments,” Karo said.

In terms of production, a multi-phased development approach is being adopted at the Karo Platinum project, where a 17-year opencast mine is to be built with a timeline to deliver its first ore to the mill in July 2024.

The land has been allocated for a 300 MW solar plant to serve the project, the 12-month design and construction period for which began on July 1.

The updated output is scheduled at 194 000 oz/y, which puts the project in line with Anglo American Platinum’s Unki mine, also on Zimbabwe’s Great Dyke.

The total cost to first ore in mill is estimated at $ 391 million, with $ 20 million spent to date and with Tharisa able to provide an extra escalation reserve of $ 26 million should it be needed in today’s volatile world of escalation and inflation.

Marc Nicolle appointed Mopani Gold CEO

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Marc Nicolle appointed Mopani Gold CEO

Former Dallaglio Investments Chief Executive Officer (CEO) Marc Nicolle has been appointed Mopani Gold CEO.

In a statement, Nicolle said under his leadership, the Maris Africa-owned Mopani Gold will operate with integrity and transparency with a strong focus also towards social responsibility.

“Environmental stewardship and the well-being of our workforce and local communities are top priorities for us,” Nicolle said, “We will operate with integrity, transparency, and a strong focus on social responsibility. The team at Mopani Gold is committed to excellence and the high quality of our ore bodies and the experience that is being built at all levels of the Venice and Karebe teams means we are well-positioned to deliver value to all stakeholders,” Nicolle added in part.

Mopani Gold has mines in Kenya and Zimbabwe, which have significant production and exploration opportunities. Nicolle said the promising high-grade ore bodies present a solid opportunity for responsible mining.

“Mopani Gold has promising, high-grade ore bodies at both mines, which present a solid opportunity for responsible mining,” Nichole says. “At Karebe, continuous operations will help unlock the mine’s full potential. Digitalizing the wealth of historic data that exists at Venice and looking at more effective extraction methods, will allow us to tap into the substantial ounce potential there,” Nicole concluded.

Commenting on the development Maris CEO Charlie Tryon said Nicolle’s experience align perfectly with the company’s expansion plans.

“We are delighted Marc is joining us,” says Charlie Tryon, Maris CEO. “Through refurbishment, exploration and acquisition of stranded assets, we have an exciting opportunity to build a substantial, responsible gold business in the heart of one of Africa’s richest mining regions. Marc’s experience and ethos align perfectly with these expansion plans.”

Zimbabwe, a country with plenteousness of minerals
Eureka Gold mine

Nicolle a prominent Executive was instrumental in the revival of two key gold mines in Zimbabwe namely Eureka and Pickstone Peerless in Zimbabwe.

 

Mine Rescue geared to reduce LTI, fatalities, as accidents increase

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Mine Rescue geared to reduce LTI, fatalities, as accidents increase

The Mine Rescue Association of Zimbabwe (MRAZ) is geared to reduce Lost Time Injuries (LTI) and fatalities through continuously educating miners to report all safety risks in mining areas including near misses, MRAZ’s immediate Past President Vavarirai Mahwire said.

Mahwire said MRAZ would like to invite an umbrella body representing Artisanal and Small-scale Miners (ASM) the Zimbabwe Miners Federation (ZMF) to attend rescue competitions and encourage the ASM to have at least basic first aid training.

“As a body, we operate under the Chamber of Mines, we have engaged the Chamber to ensure that small-scale miners join our quarterly training through the Zimbabwe Miners Federation. We would want them to have rescue teams at least starting with first aid and fresh air teams,” Mahwire said.

The mining industry recorded 110 fatalities during the period January to July 2023 approximately a 3.8 per cent increase compared to 106 fatal accidents recorded during the same period last year.

According to the Chamber of Mines of Zimbabwe’s state of mining industry, a survey report which was presented on the sidelines of the 26th edition of the mining, engineering and transport expo (Mine Entra) 2023 in Bulawayo by lead researcher Professor Albert Makochekanwa large-scale mines recorded 20 fatalities from 20 accidents which are 18 per cent of the total fatalities with 16 of the fatalities happening underground and 4 on the surface.

The report reads that 60 per cent of the fatalities (72) recorded during the period were reported on Small to medium-scale mines from 66 accidents with 62 of the accidents happening underground and 4 on the surface. Illegal operations recorded 28 fatalities from 24 accidents with 23 of the accidents happening underground and 1 on surface.

According to the report, 92 percent of accidents (101) were recorded underground with 8 percent (9) reported on the surface.

“The mining industry reported 110 fatal accidents during the period January to July 2023, compared to 106 fatal accidents during the same period last year. The 110 fatal accidents resulted in 120 fatalities. 92% of the accidents reported during the period under review occurred underground.

“Large-scale operations contributed 18% of total accidents reported in the period under review. Of the 20 accidents reported for large mines, 80% were in underground operations. Illegal mining operations contributed 22% to the total number of accounts. The small-scale mining industry contributed 60% to the total number of fatal accidents,” the report reads in part.

BREAKING: Rushwaya remanded to Tuesday, court waits for evidence from RBZ

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BREAKING: Rushwaya remanded to Tuesday, court waits for evidence from RBZ

Zimbabwe Miners Federation (ZMF) President Ms Henrietta Rushwaya who was recently convicted of a gold smuggling attempt has been remanded to Tuesday 14 November for sentencing in the anti-corruption court at the High Court in Harare as the state waits for evidence from the Reserve Bank of Zimbabwe (RBZ) on how much the state was prejudiced.

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She was remanded in custody last week for sentencing today after the Anti-Corruption Court turned down her request to remain on bail pending sentence following her conviction on charges of attempting to smuggle 6kg of gold worth more than US$333 000 to Dubai three years ago.

The court is allowed to have oral evidence on the amount of prejudice following a conviction from corruption-related charges.

The court has established that the gold Rushwaya was convicted for trying to smuggle belonged to her this might therefore mean that the state could have been prejudiced 1 percent of the Gold translating to US$3 300.

According to the law gold produced by small miners attract 1 per cent royalty (for the first 0.5 kgs of gold delivered to a holder of a gold licence in a calendar month); 1 per cent (if the gold is delivered by a holder of a gold-buying agency permit to a holder of a gold-dealing licence in a calendar month), 2 percent (if the gold delivered to a holder of a gold dealing licence in a calendar month exceeds 0.5 kgs). And Gold produced by other miners attracts 3 percent (if the gold produced by them is sold at a time when its price is below US$1,200 per ounce) 5 percent (if the gold produced by them is sold at a time when its price is above US$1,200 per ounce).

Rushwaya denied the charge, claiming she mistakenly picked up the wrong bag, one containing gold bars rather than the one she meant to take on her trip and that smuggling 6kgs of gold is not worth the hustle as the amount gained cannot even pay for airfares.

Justice Pisirayi Kwenda, who presided over the trial with two assessors, found Rushwaya guilty, dismissing her defence of a “wrong bag” as implausible. Rushwaya was charged along with two Central Intelligence Organisation operatives Stephen Tserai and Raphios Mufandauya.

These two were found not guilty at the close of the prosecution case, for lack of evidence that they had committed a smuggling offence. This left Rushwaya to put on her defence after the court ruled she did have a case to answer. Now the judge must work out the sentence after taking into account evidence presented in aggravation and mitigation.

The ZMF Executives including all the 8 Provincial chairpersons came to court in support of their President.

Zim optimistic of 55% diamond production increase

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Zim optimistic of 55% diamond production increase

The government of Zimbabwe is optimistic that diamond producers will reach the country’s target of 7 million carats an increase of over 55 per cent from 4.5 million carats produced last year, Mines and Mining Development Minister Hon Zhemu Soda has hinted.

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Zimbabwe, which is the world’s seventh-largest diamond producer, earned US$424 million in diamond earnings in 2022 from 4.5 million carats. The 4.5 million carats was an increase of around 7 per cent compared to the previous year. In the same year, the country ranked seventh among the world’s largest diamond producers by volume.

Diamond production recorded a significant year-on-year increase in the first quarter of 2023. The output index for diamonds rose by 54.8 per cent from 229.3 in Q1 2022 to 355.0 in Q1 2023. On a quarterly basis, the percentage change was 7.2.

Speaking at the official opening of the Kimberly Process (KP) Plenary Meeting in Victoria Falls on Wednesday, the Minister of Mines and Mining Development Hon Zhemu Soda said the government was optimistic that diamond producers were going to reach the set target of 7 million carats in 2023.

“In Zimbabwe, diamonds have contributed to the development of our nation. Currently, our target is to produce at least 7 million carats by the end of 2023. We are optimistic that diamond producers will reach this target,” Soda said.

Hon Soda said diamond companies (Anjin Investment, RZM Murowa, Zimbabwe Consolidated Diamond Company (ZCDC) and Alrosa Zimbabwe which is currently in the exploration stage) are actively involved in Corporate Social Responsibility (CSR) initiatives at the same time giving 10 per cent of their diamonds to local cutting and polishing companies to create employment.

“Our diamond sector is made up of three mining companies, Anjin Investments, RZM Murowa and Zimbabwe Consolidated Diamond Company and we are pleased with their production and revenue output. Alrosa Zimbabwe is carrying out exploration and we are hopeful for positive results. The companies are also continuously engaged in Corporate Social Responsibility (CSR) projects within the communities that host the mineral deposits.

“The Government of Zimbabwe has developed a Zimbabwe Diamond Policy with the intention of maximizing revenue from our diamonds at the same time ensuring that all stakeholders benefit from the mineral resources. The Zimbabwe Diamond Policy has a 10% quota for local cutting and polishing companies. This entails a portion of diamonds for purchase by local diamond traders to undertake value-addition processes. As such this inclusive approach has enabled our citizens to establish cutting and polishing businesses.

“In terms of community development, the Zimbabwe Diamond Policy has a provision for Community Share Ownership Trust (CSOT) as a way of giving our diamond communities shareholding in the diamond sector. Recently the Zimbabwe Consolidated Diamond Company (ZCDC), which is a state diamond miner declared a dividend to the Marange community being guided by the Diamond Policy alluded to. The Ministry of Mines and Mining Development led an initiative that conducted a Responsible Mining Audit to ascertain companies’ compliance with mining and other legislative requirements. This exercise is a testament to the need for sustainable mining practices countrywide,” Hon Soda said.

Zimbabwe gold buying prices/ gram 09 November 2023

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Zimbabwe gold buying prices/ gram 09 November 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices/ gram today 09 November 2023.

SG 90% AND ABOVE US$59.52/g
SG ABOVE 85% BUT BELOW 90% US$58.89g
SG ABOVE 80% BUT BELOW 85% US$58.26/g
SG ABOVE 75% BUT BELOW 80% US$57.63/g
SAMPLE BELOW 10g BUT ABOVE 5g US$56.69/g
FIRE ASSAY CASH US$59.84/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.

Get Connected to the Large-Scale Mining Industry Leaders

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Get Connected to the Large-Scale Mining Industry Leaders

The large-scale mining industry plays a pivotal role in shaping the Zimbabwean economy, supplying essential resources for various sectors, including manufacturing, construction, and technology.

To connect with the key players and men/women responsible for running the day-to-day Mining operations at Large-scale mines in Zimbabwe, attending the Association of Mine Managers of Zimbabwe (AMMZ) AGM and Conference 2023 is a must. This year, the event is scheduled from the 16th to the 19th of November 2023, promising an unparalleled opportunity to showcase your products and services and engage with industry giants.

The Significance of the AMMZ AGM and Conference

The AMMZ AGM and Conference is an annual gathering that brings together Mine managers, mining professionals, government representatives, equipment suppliers, and service providers. The event offers a unique platform for sharing knowledge, discussing industry trends, and exploring business opportunities. With the mining industry in Zimbabwe continuously evolving, this event serves as a critical driver of growth and collaboration.

According to the AMMZ Vice President Engineer (Eng) Abel Makura the AGM and Conference is an clear opportunity network and collaborate with Mine Managers and professionals in the mining industry.

“The objective of the conference is to provide a platform for all Mine Managers, professionals and suppliers to share knowledge, network and collaborate in the endeavour to promote the Zimbabwean Mining Industry,” Eng Makura said.

Networking with the real miners

One of the standout features of the AMMZ AGM and Conference is the opportunity for service providers and equipment suppliers to network with industry leaders. The event typically attracts top mining Executives, government officials, and experts in various fields related to mining. Whether you’re looking to establish partnerships, gain insights into industry trends, or simply foster valuable connections, this event is the ideal place to do so.

The value of rubbing shoulders with industry giants cannot be understated, as it can open doors to new business opportunities, collaborations, and invaluable knowledge sharing.

Showcasing Your Products and Services

For companies operating in the mining sector or providing products and services to this industry, the AMMZ AGM and Conference provides an exceptional platform to showcase your offerings. With an engaged audience of top class mining professionals, your business can gain exposure and generate interest in what you have to offer. From mining equipment to technology solutions, this is the ideal place to put your products and services in the spotlight.

Eng Makura said suppliers and service provider are also afforded the opportunity to showcase their products and services.

“There will be exhibitions by sponsors and various stakeholders outside the conference room and delegates will have an opportunity to network with various stakeholders. There will be a President’s dinner, bush dinner among other activities that will provide valuable platform for networking.

Learning and Professional Development

In addition to networking and showcasing your products, the AMMZ AGM and Conference offers a rich program of presentations, workshops, and panel discussions. Running under the theme “The Zimbabwean mining landscape – Transition towards the present day 4th IR” these sessions cover a wide range of topics related to the mining industry, including safety, sustainability, emerging technologies, and regulatory updates. Attending these sessions can help you stay at the forefront of industry trends, ensuring that your business remains competitive and compliant with evolving modern standards.

Building a Sustainable Future

Sustainability is a growing concern in the mining industry, and the AMMZ AGM and Conference doesn’t shy away from addressing this critical issue. Sessions on sustainable mining practices, environmental responsibility, and community engagement are a key part of the event. For companies looking to align with global sustainability goals and best practices, this conference provides invaluable information and inspiration.

By attending, you’re not only investing in your business but also contributing to the sustainable growth and development of the mining industry in Zimbabwe. Don’t miss out on this remarkable opportunity to get connected to the large-scale mining industry leaders, and get yourself a copy of the latest issue of Mining Zimbabwe magazine – mark your calendars now!

For more information call Call thembi on 0774 604 262 or Nyasha 0772 639 875

Get tickets AMMZ AGM and Conference tickets –

https://docs.google.com/forms/d/e/1FAIpQLSfLNLwGl5mLNoJx1H_6pzqfgSSKQzbNzvGrDwscI9te_VJ2fg/viewform?fbclid=IwAR2OZXcNdMMexcerbC3OShlwq1DxragBf0GDyfR7XD6iWyD7TpPF8c4m5J4&pli=1

Zimbabwe gold buying prices/ gram 08 November 2023

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Zimbabwe gold buying prices/ gram 08 November 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices/ gram today 08 November 2023.

SG 90% AND ABOVE US$59.57/g
SG ABOVE 85% BUT BELOW 90% US$58.94g
SG ABOVE 80% BUT BELOW 85% US$58.31/g
SG ABOVE 75% BUT BELOW 80% US$57.67/g
SAMPLE BELOW 10g BUT ABOVE 5g US$56.73/g
FIRE ASSAY CASH US$59.88/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.

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