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RioZim gold production increases by 6 percent

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RioZim gold production increases by 6 percent

Gold production at RioZim Limited group increased by 6 per cent during the first half of 2023 compared to the same period last year due to the government’s positive interventions and more particularly the upward review of the USD nostro retention for exporters to 75 per cent from 60 per cent at the beginning of the year.

Rudairo Mapuranga

In its reviewed group interim financial results for the half year ended June 30 2023, RioZim, however, said that despite the Group’s efforts in growing output, the overall performance for the period was weighed down by incessant power cuts and high cost of production driven by the spiralling cost of inputs which resulted in the Group closing the period in a net loss position. In spite of the challenges faced the future of the Group through the BIOX Plant and the 500 TPH Plant, is promising and the outlook looks positive.

The Group said gold production recorded a 6 per cent growth to 417kg from 393kg attained in the comparative period last year with the growth in gold production resulting from increased volumes at Cam & Motor Mine driven by the recently installed BIOX Plant. Metal prices were favourable during the period as the gold price rose by 4 per cent from an average price of US$1 834/Oz in the same period in the prior year to an average price of US$1 910/Oz in the current period.

Revenue for the period was ZW$49.96 billion in comparison to ZW$4.76 billion recorded in the same period in the prior year. The increase in revenue was partly a result of increased gold output as well as exchange rate variation from the comparative prior period. The Group incurred a net loss for the period of ZW$8.7 billion. Despite the growth in output in the current period, the cost base of the Group remained high due to the rising cost of inputs.

“After the successful completion and commissioning of the BIOX Plant in the prior year, the key focus in the current period was optimisation and ramping up of production to plant capacity. As a result of the ramping up exercises, production leapfrogged by 6% to 223kg from 211kg achieved in the comparative prior year period. After addressing all the notable teething challenges during the period the forecast for the second half of the year is positive and the Mine is set to continue on the growth trajectory achieved in the six-month period.

“Gold production for Renco grew by 11% to 194kg during the period from 174kg recorded in the same period in the prior year. The growth in output is attributable to the successful shift to the ‘high throughput low-grade strategy as grades continue to slide down,” RioZim said.

Dalny Mine operated under care and maintenance throughout the period. The future of the mine is dependent on the resuscitation of underground operations after the open pit resources were exhausted in prior years. The underground project requires a huge investment and is scheduled to be pursued in the near future.

ZMF calls for the rejection of speculative EPOs

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ZMF calls for the rejection of speculative EPOs

The Zimbabwe Miners Federation (ZMF) has called on the government to reject Exclusive Prospecting orders (EPOs) which are held for speculative reasons and give local Zimbabweans a 3-month reprieve to apply.

Rudairo Mapuranga

Speaking to the media before an engagement Meeting Between the Permanent Secretary (Ministry of Mines and Mining Development) and, the ZMF Provincial Executive on Thursday, the Federation President Ms Henrietta Rushwaya said the government should expedite the granting or rejection of EPOs to facilitate production in reserved areas as most areas where EPOs are neither accepted nor disapproved have been idle with no production taking place.

She also urged the government to create and implement a policy, which is currently barring small-scale miners from accessing mining claims held under EPOs for speculative purposes as this will allow Artisanal and Small-Scale the right to go and peg in the areas for production.

“The issue to do with EPOs has become a thorn in the flesh in the sense that they are affecting the generality of our people at large. If the government could be amenable to the situation where they can have EPOs rejected or accepted in the shortest possible time. If the government could be friendly enough to reject EPOs applied for speculative purposes, there are certain EPO applicants you can well note that they have no capacity to do exploration. If the government, once rejecting an EPO, could be in a position to allow local Zimbabweans who would want to mine a moratorium of at least 3 months where they are given the window to go and peg and apply for certain pieces of land within that EPO that has been rejected. This will enable local people to peg from areas within their village homes,” Rushwaya said.

What is an EPO?

An EPO is a large area of ground targeting the selected minerals for exploration. The maximum is 65,000 hectares in Zimbabwe and a minimum size is up to the company to choose. EPO’s tenure is 3 years with an option to renew for another 3 years.

EPOs are used by companies as first-pass exploration areas. This means that companies after doing the highly technical exploration studies will eventually drop the EPO ground in 3 years.

How are EPOs issued?

Large-scale exploration is carried out under licenses issued by the Head of State and administered by the Mining Affairs Board as per the provisions of Mines and Minerals Act 12:05. Two titles are issued under large-scale exploration depending on the mineral to be explored according to the act, which are Special Grant (SG) for energy minerals like Coal Bed Methane, natural gas, oil, and uranium to mention, and EPOs for other minerals, example base metals, gold, diamond to mention.

3 Days to Go: Association of Mine Surveyors of Zimbabwe AGM & Conference 2023

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3 Days to Go: Association of Mine Surveyors of Zimbabwe AGM & Conference 2023

With just three days remaining, excitement is building among industry professionals and stakeholders alike for the Association of Mine Surveyors of Zimbabwe (AMSZ)’s Annual General Meeting (AGM) and Conference which will be held from 12 – 13 October 2023 at the Victoria Falls Safari Lodge.

AMSZ President Mr. Gabriel Mwale expressed the Association’s commitment to building strong partnerships within the mining sector. Mwale said the vice President of the Association of Mine Managers of Zimbabwe (AMMZ), Engineer Abel Makura will be the AMSZ’s guest of honour standing in for AMMZ President, Eng Elton Gwatidzo.

“In view of our thrust to establish links with the Association of Mine Managers that are beneficial to both parties, Engineer Abel Makura, the AMMZ Vice President, will be the guest of honour at the conference. He will be standing in for AMMZ President Eng Elton Gwatidzo,” Mwale stated.

This collaboration between the AMSZ and the Association of Mine Managers of Zimbabwe underscores the importance of cooperation and knowledge sharing within the Mining industry. By bringing together professionals from different disciplines, the AGM and Conference aim, to foster a supportive network that maximizes the potential for success and growth.

The AMSZ President also announced that the Association has recently undertaken the establishment of a student forum at the Zimbabwe School of Mines. Mwale said the move is aimed at recognizing the value of engaging and supporting the next generation of mine surveyors and the association is proud to sponsor four students to attend this upcoming conference in the resort town of Victoria Falls.

“We have also established a student forum at the Zimbabwe School of Mines and are sponsoring 4 students to attend the conference,” Mwale said.

He opined that the sponsorship not only affords these students the opportunity to gain invaluable insights and experiences but also demonstrates AMSZ’s commitment to investing in the future of the industry. By fostering collaboration between seasoned professionals and aspiring individuals, the association aims to cultivate a culture of learning and progression that drives the mining sector forward.

An affiliate of The Chamber of Mines of Zimbabwe, the Association of Mine Surveyors of Zimbabwe (AMSZ) was formed in 1985 as a Professional Non-Profit Body that represents the interests of the Mine Surveying Profession in Zimbabwe. It comprises of members from Mine Surveying Departments of various large-scale Mining Organizations, both local and from abroad, as well as other affiliate members from diverse technical fields related to Mine Surveying and the Mining Industry in general.

ZMF requests for the liberalisation of the semi-precious & gemstone sector

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ZMF requests for the liberalisation of the semi-precious & gemstone sector

In an endeavour to ensure the growth and development of the semi-precious and gemstones sector, the Zimbabwe Miners Federation (ZMF) has requested for the liberalisation of the sector.

In a letter submitted to the Permanent Secretary in the Ministry of Mines and Mining Development Mr Pfungwa Kunaka, ZMF’s Secretary for semi-precious and coloured gemstones Mr Privelage Chinembiri Moyo said the country was failing to compete on the global stage as a source and supplier of semi-precious and gemstones due to various bottlenecks which include the lack of a policy framework, intertwined bottlenecks, inconsistencies, very long export process, lack of modified financial laws regarding USD cash purchases (CD1 requirement) among others.

ZMF through Moyo said their request is focused on the sectors’ growth as well as on promoting the participation of many stakeholders and industry players being miners, traders, communities, both genders, jewellers and buyers.

Moyo said the sector is operating under the shadow of many minerals hence it needs to be defined and simplified under the vision of his excellence of promoting the ease of doing business.

“The target of our request is to bring the sector to its glory of being a foreign currency earner whose contributions to the revenue generation can be anywhere closer to a billion dollars. The world over the sector is promoted by communities where most of the product minerals are found.

“Whereas in Zimbabwe most are found in farming areas like clear quartz, tourmalines, aquamarine, agates, kyanite, rose quartz, topaz, cat’s-eye, sphene, Amethysts etc.

“Our proposal for the sector’s liberalization is as follows:

i. Allow the trading of semiprecious and gemstones locally and within our borders without any restrictions such that we may compete with other growing nations like DUBAI whose laws are liberalized to promote industrial growth.

ii. Our vision is to see the opening up of many traders in and outside our cities as well as to encourage companies to diversify into trading of the sector’s products.

iii. Allow the opening up of semi-precious and gemstone trading centres within areas where the stones are being mined, extracted or found. These centres will allow whoever found stones to come and trade at their centres which will be controlled by various stakeholders. E.g. RDCs, ZRP, MMCZ, Ministry of Mines, ZMF Banks, ZIMRA, etc. Ideally, we wish to emulate the Mbare Musika concept whereby farmers of various sizes bring their produce to the market for trading thereby creating a one-stop shop.

iv. The opened-up centres will be able to collect data regarding the stones coming into the centres and those being sold and collect taxes, levies, and royalties.

v. The centres will issue receipts and invoices for any purchases from the centres which will be used to track the source of origin as well as for export, inter-province movement and border exit.

vi. Centres will allow foreign buyers to hunt for their preferred stones only from centres unlike currently whereby they hunt stones in communities resulting in undercutting the supplier due to wasted time searching for specific stones.

vii. We also welcome the subagent introduction under SI256 of 2019 though we propose it to be more simplified for growth.

viii. Holders of subagents’ licences should search for stones from trading centres and promote exports as a requirement. Foreign buyers must approach the subagent holders for their requirements as they will be able to export the stones in a very short period of time not more than 3 days as they will be working hand in glove with most government institutions.

ix. In Zambia, the exports of semi-precious and gemstones have a turnaround time of not more than 48 hours and the following are the departments involved, Zambian police for a letter to confirm source of origin, Zambian revenues authority for evaluation, tax and royalties, ministry of mines for an export permit.

x. In Malawi an export process is done within one hour while in Zimbabwe can go as far as up to 4 months involving more than 20 visits to various office departments.

“We hope with our request and thrust to promote the ease of doing business, you may allow a threshold amount to benchmark export permits which may be issued at MMCZ offices for our semiprecious and gemstones sector.

“We wish the Ministry of Mines to reintroduce the exemption from compliance permit for the semi-precious and gemstones sector as it was in existence before.

‘This permit will allow our buyers and traders to harness the ease of doing business as all the stones which fit in handbags and carry bags will have a formal export process.

“This will do away with the current bureaucratic process which takes more than 3 months for a simple export to be done also it will be a welcome move for samples to be exported easily.

“In light of the above, we are sure Zimbabwe will experience an influx of buyers as we are currently losing them to our neighbouring countries due to delays in exports and inconsistencies. Also, the above will contain the illicit flows of revenue and our stones which are being traded illegally and exported illegally,” Moyo said.

Eureka to set up 7MW solar facility

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Eureka to set up 7MW solar facility

As part of its effort to provide its operations with a stable power supply, Dallaglio is investing in a 7MW solar facility at its Eureka Mine in Guruve.

Rudairo Mapuranga

Through an Australian company named Solar Century Africa, which will offer appropriate power supply for mining operations, Dallaglio plans to ensure Eureka Gold Mine‘s power requirements are met.

Dallaglio has invested heavily in the Eureka Mine, re-opening it in 2021 after it had been closed for two decades. The mine is now one of the largest and most technologically advanced gold mines in Zimbabwe, and it is a major employer in the Guruve district.

In a presentation presented by ZIDA CEO Tafadzwa Chinamo during the 21st edition of the Africa Down Under Conference held in Australia, which was running under the theme “Accelerating the Future of Mining in Africa,” it was said that “the team met Solar Century, an investor coming to Zimbabwe to set up a solar plant for Eureka Mine that will generate about 7 MW.”

This initiative is led by Chris Kanani, the Head of Development, and Jason De Carteret, the Head of Solar Century Africa, both of whom have provided extensive input on their experiences in Zimbabwe.

According to Padenga’s half-year financial figures, which ended in June, Dallaglio produced 1080 kg of gold, a 16% increase over the previous year, when gold output was 933kg, aided by production from the Eureka Mine.

“For the second year running, Eureka Mine continues to deliver robust performance, contributing significantly to volume growth and profitability,” Padenga said.

Meanwhile, Solar Century’s licensing procedure is underway, and their team is on its way to Harare, Zimbabwe.

Some of the key takeaways from the meeting include the fact that the majority of the Australian investors who attend are former Zimbabweans who understand the mining and energy potentials and are still interested in re-investing. However, Australian investors are interested in investing in Zimbabwe’s mining and energy sectors but are primarily concerned about financial and asset security issues.

Following the debut of ZIDA’s mining claims matchmaking platform, investors have stated that additional effort is needed to establish trust and confidence in the platform.

The mining industry is on track to reach a US$12 billion mining economy by the end of this year.

Ministry vows to address all challenges faced by miners

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Ministry vows to address all challenges faced by miners

The Ministry of Mines and Mining Development through its Permanent Secretary Mr Pfungwa Kunaka has promised to address all the challenges being faced by the Artisanal and Small-Scale Miners (ASM) in Zimbabwe by actively engaging the Zimbabwe Miners Federation (ZMF).

Rudairo Mapuranga

In his vote of thanks regards after meeting the Zimbabwe Miners Federation (ZMF) Provincial executives at the Ministry of Mines and Mining Development Headquarters in Harare, the Permanent Secretary said engagement will go a long way in addressing all the challenges being faced by small-scale miners.

He said his Ministry will see through issues of Exclusive Prospecting Orders (EPOs) and how they can be managed to ensure miners are not affected and also ensure that the issues to do with the delays in issuing mining titles are addressed.

“The engagement helps in policy formulation and also helps in addressing all the challenges that we are facing, talk of safety, our legal framework, talk of all the issues of EPOs and title management. What we intend to do as a Ministry is to sit together and discuss these matters. The key issue is we want our small-scale miners to grow, it is our encouragement that all our miners associate under the umbrella bodies, we know we have the Chamber of Mines and small-scale we want them to be under the Zimbabwe Miners Federation irrespective of sector. Thank you so much our technical teams have taken note of all your issues and we feel that we miss a lot when not engaging,” Kunaka said.

ZMF President Ms Henrietta Rushwaya through her closing remarks after the engagement meeting said the engagements if treated with respect will go a long way in the achievement of mining growth and development.

“As the Zimbabwe Miners Federation we feel that we will avoid a lot of unwarranted deaths through safety issues, we will avoid a lot of illegal mining through non-issuance of mining certificates and we will avoid a lot of downtime being wasted by our people waiting for the issuance of Mining Certificates when the Ministry is wholly involved and our people are actively involved we will achieve a milestone in the mining sector,” Rushwaya said.

Bay Horse mine accident update: 6th body brought to the surface

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Bay Horse mine accident update: 6th body brought to the surface

Another body has been retrieved at Bay Horse Mine, Zimbabwe Miners Federation (ZMF) Mashonaland West Chairman Mr Timothy Chizuzu has said.

Speaking to Mining Zimbabwe, Chizuzu said the body was brought to the surface just after 19:00hrs today (5 October 2023).

“Another body has been brought to the surface just now,” Chizuzu updated.

This brings the death toll to six after the tragic accident where over 30 people were trapped underground due to a fall of ground at the 150m deep mine shaft in Chakari, Chegutu.

The Minister of Mines and Mining Development Hon Zhemu Soda has cited human negligence as the sole cause of the tragic mine accident.

“Small-scale mining is sustainable to the extent that the miners should be in compliance with the law. The accident happened as a result of non-compliance. We hear that at that mine there wasn’t a qualified Mine Manager who could also give guidance on the actual activities that could be undertaken in the shafts. Human error and noncompliance to us are the causes of Mine accidents that continue to rob us of our miners in various incidents,” Soda said.

Zimbabwe gold buying prices 3 October 2023

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Zimbabwe gold buying prices 3 October 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices today 3 October 2023.

SG 90% AND ABOVE US$55.26/g
SG ABOVE 85% BUT BELOW 90% US$54.67g
SG ABOVE 80% BUT BELOW 85% US$54.09/g
SG ABOVE 75% BUT BELOW 80% US$53.50/g
SAMPLE BELOW 10g BUT ABOVE 5g US$52.63/g
FIRE ASSAY CASH US$55.26/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.

BREAKING: Bay Horse Mine accident declared a National Disaster

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BREAKING: Bay Horse Mine accident declared a National Disaster

The fall of ground incident which happened at Bay Horse Mine in Chegutu resulting in the loss of time injuries and fatalities has been declared a National Disaster.

According to the Minister of Information Dr Jenfan Muswere, President Mnangagwa has declared the Bay Horse Mine accident in Chegutu a state of disaster and the State will assist families to bury the deceased. Zimbabwe Government will cover burial expenses, including the provision of coffins, food, funds and other materials needed to manage the processes.

Speaking last night after the Cabinet meeting, the Minister of Information, Publicity and Broadcasting Services said Cabinet received updates on the Bay House Mine Disaster in Mashonaland West as well the plane crash in Mashava, Masvingo, which occurred on 29 September.

 

7 Days to go: Association of Mines Surveyors of Zimbabwe AGM & Conference 2023

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7 Days to go: Association of Mines Surveyors of Zimbabwe AGM & Conference 2023

The stage is set for one of the most highly anticipated events in the Zimbabwe mining industry – the Association of Mine Surveyors of  Zimbabwe (AMSZ) Annual General Meeting and Conference 2023.

With only a week to go until the grand event, mining professionals from across the country are eagerly preparing for an enriching and enlightening experience from one of the country’s leading Mining Associations.

On its mission to represent, promote, enhance and continuously improve the science and practice of the Mine Surveying Profession in order to maximize value to its members, the mining industry and all stakeholders the AMSZ’s AGM and Conference will be running under the theme, “Strengthening the Mining Innovation Ecosystem through Investment, Technology, Skills, and Collaboration”.

The theme reflects the current need to strike a balance between economic growth and environmental conservation in the mining sector, highlighting the importance of adopting sustainable practices that will benefit both present and future generations of Zimbabwe.

Speaking to Mining Zimbabwe AMSZ President who also leads Survey Services at Mimosa Mining Company, a platinum-producing miner, said key issues to be discussed at the event include the government mine Surveyor’s certificate of competency, lobbying for increased technology in Mine Survey Offices nationwide to mention a few.

“Key Issues to be discussed include the Mining Bill and the Role of Surveyors therein, Lobbying for increased technological investments in Mine Survey Offices nationwide, to enhance accuracy, efficiency and safety, Promoting the latest and cutting-edge global best practices and procedures, The Government Mine Surveyor’s Certificate of Competency, National Certification of Mine Survey Assistants to improve the accuracy of survey data collection and measurement and Plenary discussions on improving general services that Mine Surveyors provide to the industry,” AMSZ President Mr Gabriel Mwale said in a statement.

In addition to the highly informative sessions, the AGM and conference will also provide ample networking opportunities for attendees to connect with leading industry professionals, potential collaborators, and leading suppliers of surveying equipment and technology. The exhibition area will showcase the latest innovations, giving participants a firsthand look at the tools and services that can revolutionize their surveying practices and experiences.

Currently, Mwale is deputized by Kumbirai Matare with Takunda Paul Mubaiwa being the organisation’s Secretary-General. The Zimbabwe School of Mines’ HOD Survey Linton Mapasure and the Chief Government Mining Engineer Michael Munodawafa hold permanent seats in the Association.

AMSZ is an affiliate of the Chamber of Mines of Zimbabwe.

ASSOCIATION OF MINE SURVEYORS OF ZIMBABWE
20 Mount Pleasant Drive
Mount Pleasant
Harare
Zimbabwe
P.O. BOX 712, Harare
Mobile: +263 773 302 920
Mobile: +263 715 000 355

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