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Zimbabwe gold buying prices/ gram 7 November 2023

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Zimbabwe gold buying prices/ gram 7 November 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices/ gram today 07 November 2023.

SG 90% AND ABOVE US$60.29/g
SG ABOVE 85% BUT BELOW 90% US$59.65g
SG ABOVE 80% BUT BELOW 85% US$59.02/g
SG ABOVE 75% BUT BELOW 80% US$58.38/g
SAMPLE BELOW 10g BUT ABOVE 5g US$57.42/g
FIRE ASSAY CASH US$60.61/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.

ASM leads to the development of industrial linkage through SMEs

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ASM leads to the development of industrial linkage through SMEs

The emergence of the artisanal and small-scale mining (ASM) sector has led to the development of industrial linkages through small to medium enterprises (SMEs) which have found a niche in manufacturing mining equipment and consumable supply, the Minister of Mines and Mining Development Hon Zhemu Soda said at the Mine Entra small to medium scale mining conference on Friday.

Rudairo Mapuranga

During the 26th edition of the Mining Engineering and Transport Expo (Mine Entra) 2023 held at the Zimbabwe International Exhibition Centre in Bulawayo, the Zimbabwe Miners Federation (ZMF) held a small to a medium conference where the Minister of Mines was the guest of honour.

Speaking at the ZMF Mine Entra Conference Minister Soda said the ASM has a lot of potential but its progress is hampered by vast challenges that include inadequate funding, equipment, skills, technology and lack of business acumen in some cases.

Minister Soda encouraged all ASMs to join under one umbrella body and applauded ZMF for bringing the ASM sector together.

“As I toured the exhibitions during this edition of Mine Entra, I noted with gratitude that, the emergence of the ASM sector has led to the development of industrial linkages through SMEs which have found a niche in manufacturing mining equipment and supply of chemicals.

“Let me hasten to highlight that artisanal miners have the potential to produce much more and their progress is hampered by a lot of challenges that include inadequate funding, equipment, skills, technology and lack of business acumen in some cases.

“In order to deal with the complexity of artisanal mining and fully realize their economic impact, the artisanal and small-scale miners are encouraged to formalize their operations and continue to unite under umbrella bodies. This enhances the self-governance of the ASM sector and enables miners to speak with one voice in engagements with various stakeholders including Government. I, therefore, applaud various mining groups for joining together under one umbrella body, the ZMF,” the Minister said.

Mine Entra 2024 set for July, exhibitors express satisfaction

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Mine Entra 2024 set for July, exhibitors express satisfaction

The 27th edition of the mining, engineering and transport expo (Mine Entra) 2024 has been set for July with companies stating their desire to exhibit next year due to the overwhelming business opportunities from this year’s exhibition.

Rudairo Mapuranga

Mine Entra 2023 was initially set for 28-30 June in line with the usual calendar before being shifted to November to make the way for the 2023 general elections. Speaking at the Mine Entra 2023 Conference and Official Opening at the Zimbabwe International Exhibition Centre (ZIEC) on Thursday, ZITF Company board chairman, Mr Busisa Moyo said next year the expo will be going back to its traditional slot of Mid-year.

“Mine Entra 2023 is the second post-pandemic edition of the trade show after we missed two consecutive editions during the peak Covid era. Many wondered whether the show would be able to make a comeback or would be one of the pandemic’s fatalities. We are pleased to report that indeed the show has made a rebound and enjoyed strong industry support.

“As organisers, we hope to see this upward trend continue next year when the show goes back to its regular slot in July. Our plans for the show include a massive expansion drive that will see it grow to compete in the league of regional giants such as Electra Mining and Bauma CON Expo Africa. We shall therefore be engaging our counterparts from the regional exhibitions and events industry on strategic partnership opportunities for mutual growth and benefit,” Moyo said.

Speaking to Mining Zimbabwe Star Delta Electrix Business Development Manager Kundiso Chimbima said MineEntra 2023 has established a lot of exposure for her company and discovered that the show was worthy for her company to exhibit next year.

“The MineEntra experience has been very fulfilling in the sense that Star Delta has got a lot of exposure, especially through the new technology that we are pushing which is our oil regeneration plant. We have seen a lot of stakeholders the engineers, mine managers, the buyers interested in doing business with us,” Kundiso Chimbima said.

The Managing Director of Fire Dust Control Africa, Mr Willem Van Der Nest said his company was overwhelmed by the response from mining companies and is looking forward to coming back next year.

“It is the first time we came to MineEntra I can honestly say that we were overwhelmed by the interest of the people in our product, it was money well spent we look forward to coming next year again,” Van Der Nest said.

Fire Dust Control Africa deals in fire detection and support.

Hems AfriEngineeringing neer Business Development Manager Oscar Msowa said the MineEntra has been fulfilling for his company as they have managed to reach mines they were not able to do business with and also manage to re-engage with other mines.

“We are happy, we got contacts of us of the mines we were not able to reach and it was an eye opener we were also able to reengage with other guys we had done business with. Overally, we are happy and definitely coming back next year,” Oscar Msowa said.

“The MineEntra was quite helpful, we were able to get in touch with the lithium miners, gold miners, and even third-party players. We are coming back next year,” Joseph Mandara a Mining Sales Representative from Acol Chemical said.

AMMZ AGM and Conference 2023 gains momentum

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AMMZ AGM and Conference 2023 gains momentum

The upcoming Association of Mine Managers of Zimbabwe (AMMZ) Annual General Meeting (AGM) and Conference 2023 is gaining significant momentum as more attendees are confirming their participation.

The event, which is scheduled to take place in exactly ten days in Victoria Falls brings together Mine Managers of large-scale Mines in Zimbabwe and also provides an excellent opportunity to network and establish valuable connections with the “real Miners”.

Running under the theme “The Zimbabwean mining landscape, Transition toward the present day 4IR” the event will see high-profile speakers and panellists presenting at the conference with Chamber of Mines President, Thomas Gono, announced as the guest of honour.

Over 1800 individuals have expressed interest in attending on Mining Zimbabwe’s Facebook page and the country’s sole Gold buyer and exporter Fidelity Gold Refinery (FGR) has also confirmed attendance.

Leading Banks, insurance companies and service providers also expressed interest and made enquiries about the event at the recently ended Mine Entra 2023 Exhibition.

The AGM is another significant aspect of the event, providing an opportunity for AMMZ members to voice their opinions, vote on important matters, and elect new board members. The AGM will see the a new President and his/her Vice elected into office to serve a two year term.

Mine Managers

Mine Managers are responsible for strategising, coordinating, and overseeing the operations of a Mine. They are in charge of forecasting mine productions, monitoring the mine’s development and tunnelling processes, ensuring the quality of extracted minerals, rock, and stone, and conducting safety inspections within the mine.

In a nut shell, Mine Managers are men and women responsible for running the day-to-day activities of a Mine.

Responsibilities of a Mine Manager

The responsibilities of a Mine manager include:

Supervision of mining operations

A mine manager is responsible for ensuring the safe and efficient extraction of minerals from the mine they are responsible for. This involves overseeing various activities such as drilling, blasting, and excavation while adhering to health and safety regulations and environmental standards.

Planning and organising

A mine manager develops and implements strategic plans for smooth mine operations, including resource allocation, budgeting, and scheduling. They establish production targets, monitor progress, and make neccessary adjustments to meet set objectives.

Staff management

A mine manager is responsible for recruiting, training, and managing the mine staff. This includes hiring skilled workers, providing necessary training programs, and ensuring proper supervision to maintain a productive workforce.

Health and safety

Safety is a top priority in mining operations, and the mine manager plays a crucial role in maintaining a safe working environment. They must ensure that proper safety procedures are followed, conduct regular inspections, and implement corrective measures as needed.

Environmental compliance

Mining activities can have potential environmental impacts, and it is the mine manager’s responsibility to ensure compliance with environmental regulations. They oversee proper waste management, minimize pollution, and implement sustainable practices to minimize the mine’s ecological footprint.

Stakeholder management

Mine managers often interact with various stakeholders, including government officials, local communities, and suppliers. They maintain positive relationships, address concerns, and ensure effective communication to maintain social license to operate.

Risk management

The mine manager identifies and assesses potential risks associated with mining operations. They develop strategies to mitigate these risks, including maintaining proper safety protocols, implementing emergency response plans, and ensuring compliance with legal and regulatory requirements.

Financial management

As the mine manager, they are responsible for managing the financial aspects of the operation. This includes budgeting, cost control, and financial reporting to ensure profitability and sustainability.

ZDAMWU, CNRG call on Murowa to pay its workers

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ZDAMWU, CNRG call on Murowa to pay its workers

The Zimbabwe Diamond and Allied Minerals Workers Union(ZDMWU) and the Centre for Natural Resource Governance (CNRG) have called on struggling RioZim associate, RMZ Murowa to address the pressing labour disputes, wage issues, and poor working conditions at its diamond mine in Chivi.

It is alleged that Murowa Diamond’s salaries were supposed to be paid to its workers to cover salary disputes at RioZim-owned Renco Mine, as of 06 November 2023 all workers below the supervisor got half salaries, and supervisors and seniours got nothing.

CNRG and ZDAMWU in a press statement said they have noted with grave concern ongoing labour and salary disputes which have culminated in the imminent downing of tools by mine workers at Murowa Diamonds in Zvishavane.

The ZDAMWU and CNRG said they are calling upon Murowa Diamonds to address the challenges faced by its workers. The two organisations said Murowa Diamonds must take immediate action to address the pressing labour disputes, wage issues, and poor working conditions. They said that Murowa Diamonds is a member of the Natural Diamond Council, which aims ‘to promote the positive and sustainable development of the global diamond sector.’ Certainly, such high standards cannot be attained when welfare is neglected. The daily risks taken by workers to liberate diamonds from the belly of the earth must be honoured and fairly renumerated.

“It is noteworthy that productivity by mine workers at Murowa Diamonds has been at full capacity with the company operating at full throttle. However, this has not translated to salary disbursements and other benefits for the workers. This clearly demonstrates that the welfare of workers is not a priority for Murowa Diamonds. What matters to them are profits generated from labor. The non-payment of salaries is only but one of the challenges afflicting Murowa Diamonds.

“Below is a full list of the concerns raised by the workers:

1. Non-payment of salaries
2. 14/7 roaster that has not been ratified.
3. Short term fixed term contracts –mostly 1 month-
4. Non-functioning of the works council
5. Non-functional transport system
6. Poor salary scales against the proceeds from minerals being mined.
7. The MIPF pension fund which they rely on has not helped the workers in any way and workers are agitated for a defined pension fund for the diamond sector.

“This has largely exposed mine to the most important stakeholders in this diamond value chain. Workers are struggling with meeting very basic family needs such as buying food, paying school fees and covering medical expenses. In addition, we are equally concerned with the plight of female mine workers who become more vulnerable when working in such desperate conditions.

“This can lead to increased stress and anxiety, and a decline in the overall quality of life for the workers and their dependents and yet is very avoidable.

“CNRG and ZDAMWU are aware of the upcoming Kimberley Process Plenary meeting to take place in Victoria Falls from the 6th to the 10th of November. The Kimberley Process is increasingly giving a listening ear to the plight of diamond mine workers and communities.

“Protecting the welfare of mineworkers is a crucial function of trade unions and CSOs and as ZDAMWU and CNRGwe will continuously and vigorously advocate for working conditions at the diamond-producing mine.

“We will not rest until diamond mine workers at Murowa Diamonds and other diamond extraction companies receive their dues on time and continue to advocate for standard working conditions, above-board collective bargaining processes, institution of works councils and general improvement in operational environment for a conducive working atmosphere for diamond mine workers,” ZDAMWU and CNRG said.

Responsible Resourcing Awards: Acknowledging Junior Miners’ Sustainable Initiatives

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Responsible Resourcing Awards: Acknowledging Junior Miners’ Sustainable Initiatives

Mining Indaba understands how important ESG is to the mining industry, two years ago we introduced the Junior ESG Awards to recognise and honour junior mining companies that are striving to achieve positive impacts related to their companies’ sustainable development. This initiative provides a platform for juniors to share their initiatives in order to be recognised for their excellent achievements while inspiring peers to do the same.

Rebranded the Responsible Resourcing Awards, Mining Indaba will continue to honour junior mining companies for their sustainable development initiatives. These awards promote a more ethical and sustainable future in and for the industry and the greater economies they have a presence in. Previous recipients have been recognised for initiatives including reducing carbon emissions, improving access to clean water, and promoting sustainable economic development in their regions. Their innovation and dedication contribute to a more sustainable future.

Junior miners are transforming responsible mining by preserving the environment, supporting local communities, and promoting sustainable, ethical practices in the industry through their innovative approach.

The Responsible Resourcing Awards cover a variety of aspects of sustainable mining including:

  • Climate

For its innovative and revolutionary climate-change initiatives, such as green power solutions, nature-based solutions, and re-designing mining infrastructure to address environmental, social, and economic issues.

  • Water

A company is recognised for improving clean water access, introducing innovative solutions for pollution prevention, and responsibly managing water usage in projects and asset operations.

  • Economy

A company promoting sustainable economic development in local communities, focusing on vulnerable groups, reducing dependency on mining, and promoting the green economy.

  • Circularity

A company is recognised for integrating circular processes into its operations, at any stage of the mining life cycle, and/or into the local economy.

  • Transparency

A company is recognised for its exceptional transparency practices and efforts to enhance accountability mechanisms, thereby promoting business integrity and good governance.

  • Nature

A company is focusing on innovative strategies to protect, preserve, and restore ecosystems and species, with a particular interest in collaborative and landscape-level projects.

  • Community Engagement

A company is enhancing local institutions and empowering people to assert their human rights through innovative initiatives and community engagement in decision-making processes.

  • Labour

A company that excels in employment practices, including labour rights respect, equal opportunities, fair treatment, professional development, health and safety culture, and worker voice recognition.

  • Diversity, equality, and inclusion

A company is recognised for successfully implementing a diversity, equality, and inclusion strategy, demonstrating improved representation against bias and discrimination, and overcoming discrimination at all organisational levels.

The judging process for the Responsible Resourcing Awards involves a carefully selected expert panel of ESG advisors, managers, and analysts. The criteria will include factors such as the level of commitment to sustainability, innovative approaches to environmental responsibility, social impact, and ethical practices. The judges will prioritise entries that demonstrate tangible and measurable results, as well as a clear vision, robust execution, and a lasting commitment to building a more sustainable and responsible future.

The deadline for submissions is January 2024.

Submit your entry here: https://miningindaba.com/page/responsible-resourcing-awards

About the Investing in African Mining Indaba

Investing in African Mining Indaba is the largest mining investment event in Africa. With a proven track record of bringing together Ministers, senior Government representatives, Mining Companies, Mid and Junior Miners, Investors, professional services as well as mining equipment and service providers, Mining Indaba is the place to meet everybody who’s anybody in the African and global mining industry.

It is the must-attend event that drives the mining industry forward and provides attendees with unmatched access to the entire value chain and the most influential players in African mining for four days of high-quality content, deal-making and networking opportunities.

For media queries:

R&A Strategic Communications

Katherine Bester                                                        Sibongile Mtafu

[email protected]                                              [email protected]

[email protected]

Mining revenue to decline 20% due to softening commodity prices

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Mining revenue to decline 20% due to softening commodity prices

Despite many mining companies increasing production, mining revenue is set to decline by approximately 20 per cent and is expected to further decline by 10 per cent in 2024 due to softening commodity prices. This was revealed by the Chamber of Mines of Zimbabwe State of the Mining Industry Survey Report presented at RTG Hotel in Bulawayo.

Rudairo Mapuranga

According to the survey report the country’s mining executives are expecting commodity prices to further decline in 2024 due to geopolitical tensions and weak global economic outlook.

“Analysis of survey responses shows that mineral revenue for 2023 is set to decline by approximately -20% and is expected to further decline by an average of 10% in 2024 due to softening commodity prices. Despite most mining companies planning to ramp up production to compensate for revenue losses due to low prices, the production increase will be more than offset by the decline in prices.

“Most mining executives expect the commodity market conditions to worsen in 2024 They are anticipating commodity prices to further the slowdown in 2024, mostly for PGMs and base metals citing geopolitical tensions and weak global economic outlook,” the report reads in part.

According to the report, PGM producers are expecting PGM prices to slow down with platinum prices expected to fall by (5%), rhodium (15%) and palladium (10%). Gold producers are expecting gold prices to fall by an average of -8%, while lithium producers and nickel producers are expecting price declines averaging 14% and 10%, respectively.

Govt offers tax breaks to companies that invest in local procurement, beneficiation

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Govt offers tax breaks to companies that invest in local procurement, beneficiation

The government of Zimbabwe has offered to give tax breaks and other incentives to mining companies that invest in local beneficiation and value addition at the same time while prioritizing procurement of local suppliers.

Speaking at the official opening of the Mining, Engineering and Transport Expo (MineEntra) on Thursday President Mnangagwa said mining companies should procure a certain percentage of their goods and services from local suppliers in line with the Buy Zimbabwe Campaign.

The President also said that mining companies should invest in infrastructure that will support the development of downstream industries like roads, railways and power plants. He said the government will offer tax breaks and incentives to companies that invest in local beneficiation.

“I call upon mining companies to procure a certain percentage of their goods and services from local suppliers in line with the Buy Zimbabwe Campaign. This will help to grow the domestic economy and create jobs Mining companies must invest in infrastructure that will support the development of downstream industries. This includes things like roads, railways, and power plants. As Government, we will provide tax breaks and other incentives to companies that invest in local beneficiation and value addition. This will make it more attractive for companies to process their minerals in Zimbabwe rather than exporting them raw,” President Mnangagwa said.

The President also called on mining companies to operate sustainably and responsibly to minimize the negative impact of mining on the environment and local communities.

He said mining companies should also adopt new technologies and be innovative to remain competitive and sustainable.

He said mining companies should collaborate with universities and other research institutions to develop and adopt new technologies.

“It is also important to ensure that the mining sector is operated in a sustainable and environmentally responsible manner. This means minimizing the impact of mining on the environment and local communities. I believe that by taking these steps, Zimbabwe can maximize the benefits of its mining sector and achieve its economic development goals. Nyika inovakwa nevene vayo, and the mining sector must ensure it leaves no one and no place behind. This means ensuring that the benefits of mining are shared widely and that local communities benefit from the extraction of their resources. The adoption of innovation in the mining sector is essential for the industry to remain competitive and sustainable. New technologies can help to improve efficiency, reduce costs, and minimize the environmental impact of mining. Mining companies must also create a culture of innovation within their organizations. I call upon mining companies to collaborate with universities and other research institutions to develop and adopt new technologies,” HE Mnangagwa said.

Speaking at the same event the Minister of Mines and Mining Development Hon Zhemu Soda said there is a need for the mining industry to rethink its strategies to allow the country to benefit from mining.

“The theme of the 26th Edition of Mine Entra, “Accelerating economic transformation through mineral beneficiation” rightfully points out that there is a need for the mining industry to refocus its plans and work hard to ensure an accelerated and sustainable expansion of the sector, which will finally allow the nation to fully profit from its mineral resources, as is correctly pointed out,” Hon Soda said.

The Minister also said that mining companies have been coming forward to partner with the government in areas of sustainability in the mining industry.

“In conclusion, ladies and gentlemen, we want to take this opportunity to applaud the private sector for working closely with the Government on the journey walked so far in the Mining Sector. As such, it is my hope that this gathering will inspire some mining companies to embrace the value addition and beneficiation agenda which can bring about socio–economic transformation in the country. Furthermore, a number of companies have entered into agreements with the Government for investments in beneficiation and value addition plants e.g., in steel manufacturing, power generation etc. It is our hope that these projects will soon come to fruition,” he said.

Government to set up mineral-specific committees

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Government to set up mineral-specific committees

In an endeavour to embrace the agenda of value addition and beneficiation for mining growth and development as well as the achievement of the US$12 billion mining industry, the government has announced that it will set up mineral-specific committees.

Rudairo Mapuranga

Speaking at the official opening of Mining Engineering and Transport Expo (Mine Entra) 2023 which ran under the theme “Accelerating Economic Transformation through Mineral Beneficiation” the Minister of Mines and Mining Development Hon Zhemu Soda said the committees will assess the status of each subsector and come up with strategies and recommendations inline with beneficiation and growth of the mining sector.

“To develop the mining sector, the Ministry will set up mineral-specific committees for all the country’s major minerals. These committees will assess the status of each subsector, and come up with recommendations, strategies and interventions required for the development of the respective subsectors,” Minister Soda said.

The Mining Industry continues to witness significant growth due to major investments in areas of exploration, value addition and beneficiation, the opening of new mines, the resuscitation of closed mines, and the expansion of existing mines across the various mineral subsectors.

His Excellency The President Emmersom Dambudzo Mnangagwa commissioned several key mining projects in 2023 including Muchesu Coal Mine, Prospect Lithium Zimbabwe Lithium Processing, Sabi Star Lithium Processing Plant and ZIMPLATS PGMs Concentrator.

Marufu Sithole appointed acting ZMF President

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Marufu Sithole appointed acting ZMF President

Zimbabwe Miners Federation (ZMF) Vice President Marufu Sithole has been appointed acting ZMF President after the conviction of the mining body’s President, Ms Henrietta Rushwaya.

In a letter addressed to ZMF General Council members by the ZMF Chief Executive Officer Wellington Takavarasha, it was revealed that Marufu will be acting as ZMF President until further notice.

“As you may be aware The Zimbabwe Miners Federation (ZMF) President was undergoing trial at the High Court today the 1st of November 2023 for attempted gold smuggling. She has been convicted on those charges and remanded in custody to the 10th of November for sentencing.

This memorandum therefore serves to notify you that the Vice President Mr.M.Sithole will be The ZMF Acting President with immediate effect until further notice,” the letter reads.

Sithole is a successful gold and quarry miner based in the Midlands.

Rushwaya was convicted of a gold smuggling attempt by High Court Judge Justice Pisirayi Kwenda and remanded in custody for sentencing on the 10th of November 2023.

 

 

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