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Metallon responds to Mine Accident at Redwing Mine

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Metallon responds to Mine Accident at Redwing Mine

Metallon Corporation, a prominent gold mining company in Zimbabwe, has expressed deep regret and concern following an accident that occurred on its claims at Redwing Mine in Mutare.

In an official statement released yesterday, the company said as soon as the accident was reported, the mine’s dedicated rescue team promptly mobilized and initiated rescue operations. The company established that 11 artisanal Miners were trapped underground.

“Metallon Corporation regrets to advise of an accident involving artisanal miners working in small-scale mining pits in claims around Redwing Mine. The incident occurred in the early hours of Thursday, 4 January 2024. The mine’s rescue team was mobilised and immediately commenced rescue operations. Early assessments are that 11 miners are trapped,” the company said in a press release.

However, due to unstable ground conditions, several rescue attempts were unsuccessful. Metallon said it is diligently evaluating the state of the ground to ensure the safety of the rescue operation before proceeding.

“The team has made several rescue attempts. However, the ground remains unstable, rendering rescue operations unsafe. Our teams are diligently assessing ground conditions to make sure that rescue operations proceed safely as soon as possible. Initial assessments indicate earth tremors as a possible cause of the incident,” the statement read in part.

While investigations are still ongoing, preliminary assessments suggested that earth tremors may have played a role in the incident. Redwing Mine has a history of operating as a large-scale mine, employing main shafts, but after it was placed under corporate rescue in 2020, artisanal mining was introduced on a broader scale. It is within one of these artisanal mining pits that this accident occurred.

“Redwing Mine has historically operated as a large-scale mine, utilising main shafts. When the mine was placed under corporate rescue in 2020, artisanal mining was introduced on a wide scale. This incident occurred in one of the artisanal mining pits,” the company continued.

Metallon Corporation assured that it is actively collaborating with the authorities to address the situation and provide assistance were needed. The gold miner pledged to share further updates and information as they become available.

Redwing Accident: Miners destroyed support pillars – Minister

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Redwing Accident: Miners destroyed support pillars – Minister

The government has asserted that the accident that is suspected of trapping 11 people at Metallon Gold’s Redwing Mine in Penhalonga on Thursday was caused by a possible mining of support pillars commonly known as pillar robbing.

WATCH Minister speak about the Metallon Gold Mine Accident: https://fb.watch/pmIaHWHYxX/

Rudairo Mapuranga

Address journalists at a Press Conference held at 18:00hrs, the Minister of Mines and Mining Development Hon Zhemu Soda, said Metallon has been tributing mining areas at Redwing to different companies and individuals and people trapped were workers of the tribute.

He, however said that Metallon has indicated that it has sufficient capacity to carry out the rescue mission.

The Minister said rescue teams have for now suspended operations after noticing that the ground was still curving in.

“The ground is still curving in. It appears like the miners had mined out support pillars.

“I have established that Metallon Gold Redwing has been tributing mining areas at Redwing even to individuals. The Shaft that collapsed was under some individuals and people trapped were workers of the tribute. Management of tributed areas falls under principal owner, Metallon Gold in this case.

“Therefore, the Rescue team from Metallon has been leading in the rescue effort supported by Ministry of Mines and other stakeholders including ZRP and Civil Protection,” Minister Soda said.

About the accident

  • The accident happened between 0500-0600 am on Thursday 04 January 2024.
  • 11 people are suspected to be trapped underground about 20m below surface.
  • Cause of the collapse of the mine Shaft is suspected to be an earth tremor whose source is yet to be ascertained.
  • Rescue teams went underground around 0900 hrs attempting to rescue and had to retreat after noticing the ground still curving.
  • The team tried again around 1200hrs and noticed that the ground had collapsed more.
  • Of concern is the fact that the ground at this place is visibly cracking and subsiding and therefore unsafe.
  • Rescue activities will resume tomorrow morning.

Zimbabwe gold buying prices/ gram 04 December 2023

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Zimbabwe gold buying prices/ gram 04 December 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices/ gram today 04 December 2023.

SG 90% AND ABOVE US$62.04/g
SG ABOVE 85% BUT BELOW 90% US$61.38g
SG ABOVE 80% BUT BELOW 85% US$60.73/g
SG ABOVE 75% BUT BELOW 80% US$60.07/g
SAMPLE BELOW 10g BUT ABOVE 5g US$59.08/g

Fire Assay CASH $62.37/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.

Steel giant diversifying into Lithium mining

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Steel giant diversifying into Lithium mining

Government through the Ministry of Mines and Mining Development has expressed appreciation for Tshingshang’s investment efforts and significant advancements in the development of the Manhize steel plant.

Announcing new developments Deputy Minister of Mines and Mining Development Engineer Polite Kambamura said DISCO (a subsidiary of the Chinese giant steel producer Tshishang Holdings Group) is now diversifying into lithium mining in Gwanda, and the company also has another project in Goromonzi. He said given the company’s track record the projects are expected to succeed.

“They (Dinson) are now diversifying into lithium mining in Gwanda, they also have another project in Goromonzi so we are sure the lithium project will come to fruition given the good example they set at Manhize.

“They are also going to build beneficiation facilities for lithium in line with the Government’s thrust of local value addition and beneficiation,” Kambamura said.

Tsingshan invested US$1 billion into the Manhize project which is going to be Africa’s biggest steel plant. Production is expected commence in February 2024 with Dinson targeting to produce pig iron followed by steel billets in May and steel bars in October of 2024.

Pig iron is the product of smelting iron ore (also ilmenite) with a high-carbon fuel and reductant such as coke, usually with limestone as a flux. Pig iron is produced by smelting or iron ore in blast furnaces or by smelting ilmenite in electric furnaces.

Steel billets are semi-finished metal products that are an intermediate form of steel and its rectangular or square-shaped cast.

DISCO is projecting to produce 600 000 tonnes of products in the first phase rising to 1,2 million tonnes in the second phase, then 3,2 million in the next phase and ultimately five million tonnes in the final phase.

Marula to list on the Johannesburg & Nairobi Securities Exchanges

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Marula to list on the Johannesburg & Nairobi Securities Exchanges

Marula Mining (AQSE: MARU), a London-listed African mining and exploration company, has announced that it is moving forward with its planned dual listing on the Nairobi and Johannesburg securities exchanges.

  • Marula will be the first metals mining company to list in Nairobi and would join the exclusive club of dual-listed companies.
  • The mining outfit will be listed as part of the NSE’s Growth Enterprise Market Segment (“GEMS”), a grouping of SME’s including Homeboyz Entertainment Plc, Kirwitu Ventures Ltd, and Nairobi Business Ventures Ltd.
  • The listing is currently expected in Q1 of 2024.

Marula has operations in Kenya, Tanzania, South Africa, Zambia, and Zimbabwe with projects extracting rare earths, tantalum, lithium, niobium, and phosphate across its operational mines. In May 2023, the company established a subsidiary in Nairobi, Muchai Mining Kenya, to explore mining opportunities in copper and graphite. The demand for rare earth metals is skyrocketing globally as the world transitions to more sustainable and climate-friendly options for energy.

If successful, the NSE’s Geoffrey Odundo will be concluding his tenure as Chairman on a high note having helped put an end to the exchange’s listing drought with its June 2023 listing of Homeboyz Entertainment Plc and now Marula Mining within a year of each other. The NSE has witnessed a prolonged listings drought beginning in October of 2015 when Stanlib Fahari REIT (now ILAM Fahari I-REIT) was listed.

Marula’s listing is good news for the exchange after it was reported earlier this month that three companies including Credit Bank have suspended their plans to list on the exchange, leaving some speculating that the decisions were due to the depreciating shilling.

  • The GEMS segment looks to see some changes in the coming year as new regulations are hoping to remove some barriers to trading for companies looking to trade on the exchange and is expected to collapse the NSE’s three segments into two – the Main Investment Market Segment and the SME Market Segment.
  • Marula’s listing stands to benefit from the African Exchanges Linkage Project (AELP).
  • The AELP is an initiative launched by the African Securities Exchange Association (ASEA) and the African Development Bank (AfDB) aimed at unlocking cross-border investment opportunities across the continent’s many different exchanges.

“The dual listings are in addition to our planned move of our primary listing in London to the Standard List of the LSE, which we are continuing to progress as well,” Marula Mining CEO Jason Brewer said in a statement to the press.

Faida Investment Bank is advising Marula’s listing as the company’s Nominating Advisor and Sponsoring Stockbroker while Bridge Capital Advisors is continuing as Marula’s Corporate Advisor and overseeing its JSE’s listing.

Transforming Mining Operations in Southern Africa: A Case Study of Kuchera’s Journey

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Transforming Mining Operations in Southern Africa: A Case Study of Kuchera’s Journey

Pioneering a Game-Changing Pilot project in Southern Africa

In September 2023, Kuchera embarked on an innovative pilot project, collaborating with three major global Mining Houses in Southern Africa. This pioneering initiative allowed us to dive deep into the mining landscape, incorporating real-world challenges and aspirations into our solutions.

Testing the MVP: A Milestone Achievement

During the pilot, we rigorously tested our Minimum Viable Product (MVP), gaining valuable real-world insights and feedback. The enthusiastic reception and insightful operational feedback received from the market not only refined our product but also confirmed our product-market fit.

Kuchera Head of Product and Technology, Chris Hugger testing our solution at a Coal Mine in Southern Africa

Invaluable Interactions: Co-creating Kuchera solutions with our customers

Our on-site engagement with key industry stakeholders, including mine managers, production managers, planning managers, maintenance managers, and haulage contractors, provided firsthand perspectives on their daily operational challenges. These insights will enable us to tailor our solution to meet their unique needs.

Customer Feedback: “Efficiency and Loads Matter!”

In load and haul operations, equipment effectiveness is paramount, driven by factors like availability, performance, and quality. One Operations Manager at a Coal Mine emphasised the need for a solution that calculates availability and performance. By acting on performance insights provided by Kuchera, the pilot customer reported a 6% improvement in fuel efficiency. Additionally, Kuchera intends to assist customers in achieving productivity targets, enhancing profitability, and addressing hauling challenges efficiently.

Mxolisi Sibiya getting real-time insights

The Kuchera Effect: Augmented Intelligence

Kuchera leverages the power of data and AI to deliver real-time, actionable insights and recommendations. In just a month, our pilot customer experienced significant improvements in haul operations, breaking down silos among teams involved in load and haul operations. At Kuchera, we believe that technology does not replace people but enables people to work better.

Chris Hugger after a successful trial run

Optimising Resources with Data-Driven Insights

Kuchera’s data-driven approach enables mining teams to optimise manpower placement, matching skilled operators with the right equipment. This capability reduces unnecessary labor costs and enhances operational efficiency. Data on operator behavior, such as speeding or braking, is used to establish profiles across different machines.

Real-time Awareness and Efficiency with the Kuchera teamUp App

Kuchera’s real-time capabilities provide operators and management with visibility into ongoing operations, facilitating better communication. Simulation features assist in reducing cycle times per truck, ultimately enhancing operational efficiency.

A Team Approach to Mining

We approach mining as a team effort, utilising augmented intelligence to empower the entire team with data-driven insights and recommendations. Our mission is clear: to elevate productivity, availability, cost efficiency, and sustainability efforts in the mining industry.

Team Kuchera

Stay Tuned for More Impactful Updates !!!

Keep an eye out for updates on our journey and the positive transformation we’re bringing to mining operations in Southern Africa!

Zimbabwe gold buying prices/ gram 03 December 2023

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Zimbabwe gold buying prices/ gram 03 December 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices/ gram today 03 December 2023.

SG 90% AND ABOVE US$62.81/g
SG ABOVE 85% BUT BELOW 90% US$62.15g
SG ABOVE 80% BUT BELOW 85% US$61.48/g
SG ABOVE 75% BUT BELOW 80% US$60.82/g
SAMPLE BELOW 10g BUT ABOVE 5g US$59.82/g

Fire Assay CASH $63.14/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.

Musician accused of Conspiracy to rob Mining Veteran

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Musician accused of Conspiracy to rob Mining Veteran

Musician Energy Chizanga popularly known as Freeman accused of  “Conspiracy to Commit Robbery” of mining veteran, Paul Chimbodza, was picked Tuesday for questioning by Harare CID Homicide section in connection with the alleged crime which took place on 25 November 2023.

Police claim Chizanga conspired with the Godfrey Machingura (who was shot killed in a shoot out with the Police) and one Paul Enest Mzenge Zhou to commit an armed robbery against Chimbodza where it is further alleged that he supplied information in relation to the residential address of the Mining kingpin.

Chizanga was questioned and later released on a warned and cautioned statement.

In his warned and cautioned statement which circulated on social media, Freeman denied any links the suspects.

“I vehemently deny the allegations in toto and will put the state to the strictest of proof to each and every allegation thereof,” he said.

“I never entered into any agreement with the said Machingura, Muzenge or any other person for the commission of a crime or for the intended purpose of assisting the commission of any crime (armed robbery in this case). I never conspired with anyone to commit armed robbery as alleged,” Freeman said.

Paul Chimbodza

With over 25-years of experience in mineral exploration and mining in Zimbabwe and Sub-Saharan Africa, Chimbodza is one of the most popular individuals in the Zimbabwe Mining Industry. He has held positions with Metallon Gold, Hwange Colliery, Falcon Gold, Rio Tinto, Chamber of Mines of Zimbabwe, Trillion Resources of Canada, Prospect Resources, Dinhidza Vermiculite Mine, Delta Gold of Australia and Geo Associates.

Chimbodza was featured our 2019’s Most Influential People in the Zimbabwe Mining Industry.

Gold miner maintains US$0.14 dividend

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Gold miner maintains US$0.14 dividend

Multi-listed gold-focused miner, Caledonia Mining Corporation‘s board of directors has declared a quarterly dividend of 14 United States cents (US$0.14) on each of the Company’s shares.

Rudairo Mapuranga

For a straight quarter since October 2021 the gold mining company will pay a dividend of US$0.14, the board has however promised to review dividends depending on the performance of the company and its capital investment requirements.

According to Caledonia, the relevant dates relating to the dividend are as follows:

  • Ex-dividend date VFEX: January 10, 2024
  • Ex-dividend date AIM and NYSE: January 11, 2024
  • Record date: January 12, 2024
  • Payment date: January 26, 2024

Shareholders with a registered address in the UK will be paid in Sterling.

Caledonia paid its initial dividend in February 2012 of 6 Canadian cents. On April 4, 2013, Caledonia announced an annual dividend in respect of the year to December 31, 2012, also of 6 Canadian cents. On November 25, 2013, Caledonia announced that in 2014 it intended to pay an annual aggregate dividend of 6 Canadian cents per common share, payable every quarter. The first quarterly dividend of 1.5 Canadian cents per common share was paid at the end of January 2014 and further quarterly dividends were subsequently paid at the end of April, July, and October in each year.

In December 2015, Caledonia announced that with effect from the results for the year to December 31, 2015 (which were released at the end of March 2016), it would report its financial results in United States Dollars, instead of Canadian Dollars. Accordingly, all dividends would also be declared in United States Dollars. In January 2016, Caledonia announced that the dividend payable at the end of January 2016 would be 1.125 US cents and the quarterly dividend policy was subsequently increased In Q3 of 2016 from 1.125 US cents per share to 1.375 US cents per share, an increase of 22%. In conjunction with the overall 1 for 5 share consolidation which became effective on June 26, 2017, Caledonia announced on July 4, 2017, that it had made a commensurate adjustment to the dividend by increasing it fivefold.

On January 3, 2020, it was announced that Caledonia would be increasing the quarterly dividend by approximately 9% to 7.5 US cents per share, commencing with the dividend to be paid at the end of January 2020. On June 29, 2020, it was announced that Caledonia would be increasing the quarterly dividend by approximately 13% to 8.5 US cents per share, commencing with the dividend to be paid at the end of July 2020, and on October 1, 2020, a further increase was announced to 10 US cents per share (an 18% increase). In 2021 increased dividends were announced in every quarter: January, April, July and October. The October dividend was increased by 8% to US$0.14 a share, where it has remained, a 104% increase to the dividend announced in October 2019.

In January 2022, the Company announced a further dividend of US$0.14 a share. With Central Shaft now complete, the Company strategy is predominately de-risking the business from being a single asset producer.

Zim’s Minister of Mines to attend Mining Indaba 2024

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Zim’s Minister of Mines to attend Mining Indaba 2024

Minister of Mines and Mining Development Hon Zhemu Soda will for the first time attend Investing in African  Mining Indaba to be held from the 5th to the 8th of February 2024 in Cape Town South Africa.

The event is the largest gathering of investors on African soil where thousands of global investors gather for mining investment, innovation and transformation.

Zhemu is expected to deliver a key note address and highlight opportunities for investment, exploration and production available in Zimbabwe.

He will also participate in some intergovernmental panels where government Ministers engage in a question and answer segments that focus on policy developments amoungst others. Some of the intergovernmental discussions include:-

  • Balancing supply and security – are international mineral partnerships providing equal value to producers?
  • From aspiration to reality – promoting Africa’s Mining Vision on the global stage
  • Enhancing local value – developing Africa’s infrastructure to advance the mineral chain
  • Developing a fruitful and inclusive labour sector – policies, politics and possibilities
  • Three Strike Rule – Can mining policies equally benefit citizens, the environment and the energy transition?
  • Pan African investment – developing projects through local financing
  • Disrupting Tax Systems – New Win-Win Approaches to Spur Mining Sector Investment and Employment
  • Positioning Africa to succeed in diversifying global value chains

With the looming green energy revolution, the Minister will highly likely be engaged by Investors on “White Gold” investment in Zimbabwe.

In 2024, the overarching theme is ‘Embracing the power of positive disruption: A bold new future for African mining’ to encourage and support the needed change and disruption the African mining industry needs to move forward.

Individuals and Company Participation

Mining Zimbabwe will be distributing its February 2024 edition at the event and to be featured in the issue you can contact us on [email protected].

To secure your place to experience Mining Indaba to initate conversations on embracing change and leading positive disruption that would revolutionise the present, and the future of the industry click HERE.

About Mining Indaba

Since its inception in 1994, Mining Indaba has grown from a small conference to one of the most highly anticipated events in the industry, welcoming mining professionals from all over the world. The event is solely dedicated to the successful capitalisation and development of mining interests in Africa, with a unique and widening perspective of the African mining industry. From connecting mining companies with leading investors to provide a platform for important industry discussions, supporting the long-term economic and sustainable growth across the continent.

Mining Indaba continues to support education, career development, sustainable development, and other important causes in Africa. Each year, Mining Indaba makes a significant impact on the regional and wider economy of South Africa. In 2023, Mining Indaba increased GDP in South Africa by R248 million(with 80% coming from international sources), generated 323 full-time annual job equivalents in the country and increased national taxes by R30 million.

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