SG 90% AND ABOVE US$61.56/g
SG ABOVE 85% BUT BELOW 90% US$60.91g
SG ABOVE 80% BUT BELOW 85% US$60.26/g
SG ABOVE 75% BUT BELOW 80% US$59.61/g
SAMPLE BELOW 10g BUT ABOVE 5g US$58.63/g
Fire Assay CASH $61.89/g
NB: Fire Assay cash price is for gold above 100gs, no sample is deducted.
For the Fire Assay Transfer price, a sample of not more than 10g is deducted
A 2% royalty is charged on all deposits (small-scale miners)
A 5% royalty is set for Primary Producers
Cash available. Fidelity Gold Refinery prices will be changing daily to match world market prices.
Rescue workers in Zambia have pulled out the first survivor of a December 1 landslide that inundated an open-pit copper mine and trapped at least 25 people working there, the disaster management unit said on Wednesday.
The rescue team also retrieved one body which had yet to be identified, Zambia’s Disaster Management and Mitigation Unit said in a statement posted on Facebook.
“The Search and Rescue Team has in the last 3 hours managed to retrieve one more body bring the total number of dead bodies retrieved to 2 and one person rescued alive. The operation is currently ongoing,” Disaster Management and Mitigation Unit said.
“A 49-year-old man has been rescued from the collapsed mine slug dump site in Chingola after being trapped with several other miners,” it said, adding that he was being treated in hospital.
Zambia’s President Hakainde Hichilema said on Tuesday he was still hopeful that the trapped miners, who were working there without a permit, were still alive, as rescue efforts continued.
The miners at Seseli mine in Chingola, about 400km (250 miles) northwest of Lusaka, were trapped in three locations and heavy rains had flooded the pit, the government said.
The mine was previously owned by Vedanta’s Konkola Copper Mines (KCM) but is now in the hands of a local company that has yet to start mining operations as it awaits safety and environmental approvals.
It was still not clear how many miners had been trapped but mines minister Paul Kabuswe said on Monday 25 families had so far come forward to claim missing relatives who were working when the accident happened.
Rescue workers, including military personnel and others from large-scale mining companies, were being cautious due to soft ground, slowing down the operation.
The stance by the government to implement beneficiation tax during the first quarter of next year will squeeze mining growth, the Chamber of Mines of Zimbabwe has hinted.
Speaking at the Business Post Budget analysis Breakfast meeting held in the capital Chamber of Mines President Mr Thomas Gono said due to softening commodity prices, implementing a beneficiation tax would affect the growth of the mining industry.
He said the mining industry growth has been relying on its own resources due to failure to attract external capital therefore softening commodity prices might lead many mines to fail to reach targets to beneficiate lithium to lithium carbonates due to lack of funding.
Gono said as the Chamber of Mines they understand that governance is a fiscal position. He however said that productive sectors, including the mining sector, require supportive measures in light of the unfolding and softening of the commodity prices.
“We submitted that taxes and royalties be moderated. While lithium companies are expected to provide beneficiation plans, we hope that the agreed roadmaps must be flexible to accommodate peculiar gestation periods and life of mines of the projects. In addition, we were also expecting the budget to align beneficiation tax from the platinum group metal concentrates to the agreed beneficiation roadmaps for the PGMs.
“We are of the view that the projects in the economy will squeeze the capacity for organic growth. It’s very difficult to mobilize funding from outside. So what is there for us is actually to use only funding for organic growth. Thus the medium-term prospects for the economy will be on the downside. There is a need for the government to support productive sectors to restore viability and generate impetus for increased activities in the outlook,” Gono said.
Speaking on the sidelines of the event, the Chamber of Mines CEO Mr Isaac Kwesu said the expectations and position of the chamber was specifically for the government to consider supporting the mining sector during this difficult phase by giving some form of reprieve that reduces cost.
“As you are aware, our mining industry is currently going through a difficult phase of commodity slowdown. The prices are very, very low. The cost structure has not been helping. We have seen the cost of doing business mining being propelled up in the past 12 months. So from the budget statement, our expectations and position of the chamber was specifically for the government to consider supporting the mining sector during this difficult phase by giving some form of reprieve that reduces cost. This includes possibly the royalties for specific minerals such as PGMs and minerals. Lithium, which went up, as well as the cost of electricity. The tariff also has gone up by more than 40%,” Kwesu said.
The second edition of the Metal Casting and Engineering Summit and Awards will run under the theme, “Value addition and beneficiation of metals- Developing local markets for metal casting engineering.”
According to ZIF COO Dosman Mangisi, the Summit has come at a time when the country is on massive development and growth therefore it was of importance to ensure the foundry industry takes centre stage in national development.
Mangisi said retooling through building bridges with Financial Institutions for the funding of the sector is going to be an important aspect at the Summit.
He also said that the foundry industry should be able to tap into the low-hanging fruits in different industries like mining, agriculture, transport, construction and structures among others to ensure that the country does not import equipment such as hammer mills, among others.
“The local foundry should be able to feed the local market and leverage the issue of import substitution. We have low-hanging fruits in different sectors, we need to be able to tap into that. Also enhancing quality control through retooling, we want to build bridges with the financial Institutions to provide working capital.
Mangisi said the awards will recognise companies, organisations and individuals that are working to see the growth of the sector.
“The issue of awards is to recognize people who are pushing the growth and development of the foundry industry,” Mangisi said.
THE FOLLOWING ARE KEY HIGHLIGHTS FOR the summit
Unveiling of retooling and working capital funding.
Shortlisting of Distributors of Raw materials (Dinson Iron Steel Distributorship in conjunction with ZIF).
Business partnerships with Banks,eg (order finance systems).
Presentation of Beneficiation and Value Addition Awards Dinner.
An opportunity to visit Dinson Iron and Steel company in Manhize, Mvuma.
Business Networking with key stakeholders and government principals.
FOR MORE INFORMATION CONTACT 0712033025/0772942473. VENUE: Chapman Gold Club, HARARE. DATE 07 DECEMBER 2023.
SG 90% AND ABOVE US$61.47/g
SG ABOVE 85% BUT BELOW 90% US$60.82g
SG ABOVE 80% BUT BELOW 85% US$60.17/g
SG ABOVE 75% BUT BELOW 80% US$59.52/g
SAMPLE BELOW 10g BUT ABOVE 5g US$58.54/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.
ESG, which stands for Environmental, Social, and Governance, has become a crucial aspect of the Global mining industry. With increasing concerns about climate change, human rights, and corporate responsibility, mining companies are now focusing on integrating sustainable practices into their operations.
Environmental considerations involve minimizing the impact of mining activities on ecosystems, reducing carbon emissions, and conserving water resources. Social factors include ensuring the safety and well-being of workers, respecting local communities, and promoting diversity and inclusion. Governance entails transparency, ethical decision-making, and accountability.
By incorporating ESG principles, mining companies can not only mitigate risks but also enhance their reputation and attract responsible investors. They can implement measures such as using renewable energy sources, adopting advanced technologies for efficient resource utilization, and engaging with stakeholders.
Mining Zimbabwespoke to Shakeelah who gave us an insight into how one of Zimbabwe’s mining giants, Dallaglio is handling ESG. Here is our interaction.
Can you please tell us about your background and your position at Dallaglio?
My name is Shakeelah KassimI, I am a Chemical Engineer with experience in the development, implementation and monitoring of Quality, Environmental, Occupational Health and Safety (OHS), and Risk Management systems in Zimbabwe. My current role at Dallaglio primarily involves the development of systems and processes to understand, monitor and report on ESG-related issues across our operations.
The world is looking forward for mining companies to prioritize issues of Environment Social and Governance (ESG) what is Dallaglio’s strategy for ESG issues?
The foundation of Dallaglio’s ESG Strategy is built on taking the time to fully understand the expectations and priorities of our stakeholders, both internal and external. This understanding of what issues are most important to our Business and stakeholders has informed and will continue to inform the individual elements of our ESG strategy. This approach also allows us to prioritize high-impact areas and effectively identify and monitor our ESG-related risks.
We currently have systems in place to monitor our ESG metrics and are in the process of collecting sufficient data to help us fully understand and establish a baseline for Dallaglio’s ESG performance. This baseline will be used to set targets specific to our operations going forward, with the aim to continuously improve.
Our strategy is also guided by international reporting and disclosure standards, such as those outlined in the Global Reporting Initiative (GRI), the Task Force on Climate-Related Financial Disclosures (TCFD), the International Financial Reporting Standards (IFRS) and relevant International Council on Mining and Metals (ICMM) guidelines and frameworks.
In terms of mine rehabilitation strategy, what has Dallaglio prepared to ensure the Environment is safe and usable after mining?
Rehabilitation has been considered at all stages, from Mine development to operation, all the way through to closure, and rehabilitation plans are in place for all our operations. Progressive rehabilitation is also being done where possible, for example, the new Tailings Storage Facility (TSF) at Eureka was designed and is operated drawing from guidelines in the Global Industry Standard on Tailings Management (GISTM) set up by the ICMM.
In 2023, what is Dallaglio’s CSR Strategy and how much has been invested by the company?
In 2023, we aim to place more focus on measuring and understanding the effectiveness of the CSR programs that we currently have in place to identify opportunities for improvement. At the end of Q2 2023, close to US$50,000 was invested in Community-related initiatives, including the rehabilitation of roads and commissioning of boreholes for nearby Villages, as well as the continued construction of the Mafuti Maternity Clinic at Pickstone Mine. A further investment of over US$100,000 is planned for the remainder of the year.
Mafuti Mother’s Clinic Construction Progress Pickstone September 2023
What has been the response of the communities regarding the ESG initiatives your company is currently undertaking?
The response from the surrounding communities has been largely positive as our operations bring not only employment opportunities but also the development of infrastructure in the surrounding areas, including schools and health facilities.
Commissioning of Borehole at Muzika Primary School Eureka Mine
Do you have a mine closure strategy and what does it say in strategy?
We do have Mine closure strategies in place for both of our mines and these are constantly being adjusted and updated according to any developments in our operations. The primary objectives of our closure plans are as follows:
To ensure the mine, processing site and associated infrastructure are returned to a state as close as possible to the original.
To ensure any mine infrastructure, and associated impacts not completely returned to their original state have the potential to be of use to the local community and stakeholders for socially or economically viable activities.
To ensure the site is made safe for humans and animals.
To ensure the site is left physically, chemically, and biologically stable.
Closure is achieved efficiently and cost-effectively with minimal social and economic upheaval.
To ensure sufficient funds are available to achieve the closure objectives.
Can you please give us a list of Dallaglio’s ESG initiatives since its inception?
Dallaglio’s Initiatives are as follows:
The establishment of Pickstone Milling Centre for the small-scale mining community in the area, where ore from tributed claims is brought to the milling centre by the small-scale miners. The company crushes and mills this ore, and the miners retain the free gold, while the company benefits from processing of the remaining sands.
Construction of a Mother’s Shelter at Mafuti Clinic near Pickstone to provide delivery beds, prenatal beds and other facilities for pregnant women awaiting delivery with the aim to reduce the mortality rate of mothers and their babies.
Rehabilitation of the main road in the Grey City- Muroiwa and Mazhambe villages near Guruve, as well as grading of the Pickstone-Chegutu Road.
Installation and commissioning of solar and manual boreholes at health facilities, schools and villages in the communities near Pickstone and Eureka.
Donations of learning materials, including stationery and textbooks, to primary and secondary schools in the communities surrounding Pickstone and Eureka.
Grading of school grounds at local schools.
Repair of infrastructure and facilities in local areas, including construction of adequate ablution facilities at schools and clinics.
Ad hoc donations to local government, including ZRP and traditional leadership, to assist in carrying out duties and for traditional ceremonies.
As far as possible, there is priority employment of people from surrounding communities.
Internal graduate programs for training and employment of young, local talent.
What do you think needs to be done for mining companies to adhere to ESG initiatives?
In my view, commitment from the Board and senior leadership is required to ensure a solid foundation for effective ESG programs, I believe adherence will then follow. At Dallaglio, we are privileged to be guided by a Board and senior leadership team who fully understand and accept the extent of our social responsibility as a mining company and play a key role in driving our ESG initiatives forward.
In October 2023 Mining Zimbabwe and other Media outlets were invited to the Zimbabwe Consolidated Diamond Company (ZCDC) to have an appreciation of how the Diamond miner was faring in terms of production. We spoke to the Exploration Manager who took us through the history of the Umkondo basin.
My name is Mr Hopewell Mvura I am the ZCDC Exploration Manager. What we are seeing here is a conglomerate unit where we are mining for diamonds within the ZCDC shares of formation.
This is what we refer to in geological terms as the Umkondo Basin.
The Umkondo Basin is more of a fallen basin which was formed more than 1.2 million years ago and it is more of an alluvial deposit where material was transported from various sources and deposited within this basin.
The basin resembles what we refer to as more of an ocean area.
Just like in the current days, you know that streams are eroding and are transporting material all the way to the ocean. So sedimentary units were deposited within this Umkondo Basin, which is a fallen basin.
At the bottom of this basin, we’ve got what we refer to as a Conglomerate rock, which is the one which was our diamonds here in Chiadzwa. On top of that conglomerate rock, you’ve got what we refer to as the grit. The grit also has got some diamonds. But the diamonds in the grit are quite small and the big diamonds are found within the conglomerate unit.
So the conglomerate unit consists mainly of clasts that are more of sedimentary material and then the clasts are more of quartz. Then they are cemented and consolidated by some calcite or iron material, which has managed to make the conglomerate more consolidated and more competent. So the diamonds within the conglomerate are quite big compared to what you find within the grit. That is a layer which is above the conglomerate.
The thickness of the conglomerate is about one meter, plus or minus and there are areas where the thickness can be just a few centimeters. But in terms of diamond deposition, we’ve realized that the concentration is per unit area, not per unit volume. So this deposit, in terms of grades, it is a high-grade deposit.
There are areas where we can get grades which are as high as 1,000 CPHT. That is carats per 100 tons. If we mine 100 tons, we’ll be able to get plus or minus 1,000 carats. There are areas like that. But on average, we are getting grades around 500 CPHT on the whole of this concession.
In terms of the quality of the diamonds, we are getting more of a gem quantity. The gems are in the range of plus or minus 20% gems. The greater part are what we refer to as bots, or many people refer to them as industrial diamonds, which are more on the low-quality side.
The other thing I would like you to understand is the main source of diamond, or the conceit, which is responsible for bringing diamond to the surface, is what we refer to in geological terms as a kimberlite pipe or a labradorite.
So the source of this Chiadzwa diamond is not known at the moment. There have been different schools of thought. However, most people, tend to think that the source could be continental. Not necessarily that is close to where we are right now. The source is most likely continental, which means there is a kimberlite pipe which is sitting somewhere else, whose source we don’t know. It was exposed to the surface, and then it was eroded. As it was eroded, the diamonds were now transported and deposited within this massive Umukondo Basin.
This is where we are mining at the moment. And the Umukondo Basin stretches all the way from Chiadzwa. It gets to Chimaniman. So in Chimanimani, we’ve got another operation, which we refer to as the Port of Chimanimani. But that one, we are mining our diamonds within the upper part of the Umukondo Basin, which is the same basin as where we are right now. So there is massive potential in terms of mining.
There is massive potential in terms of more exploration work, which is part of our expansion program and the exploration program so that we are able to determine more diamond resources.
So as far as our resource statement is concerned, right now, we’ve managed to confirm plus or minus 56 million carats of diamonds, which are still to be mined here and then in terms of the depths, our mining has been concentrated to less than 50 meters from the surface. As you can see from this pit, which is behind me, we’ve gone up to plus or minus 40 meters from the surface. So we are mining along strike, where there is much stripping. However, a lot of work has been done to a depth of about 300 meters from the surface in terms of drilling. So we have confirmed the existence of this conglomerate layer, even up to 300 meters from the surface.
So there is greater potential for this unit. I think.
Parent company to ZIMPLATS, Implats, has confirmed that another employee injured in a safety incident at its Impala Rustenburg Shaft 11 operation on November 27 died at the weekend – taking the death toll to 13.
Eleven employees were killed and 75 injured on November 27 when the personnel conveyance, also known as a lift or elevator, at 11 Shaft, unexpectedly descended at a rapid rate.
The lift came to a sudden stop at 20 level, about 180 m below 17 level close to the bottom of 11 Shaft, when the counterweight, which balances the conveyance system reached the top of the winding infrastructure on the surface, and as designed, was caught in jack catches.
Implats explained at the time that this resulted in a sudden, almost instantaneous deceleration, the force of which severely impacted the 86 employees who were standing upright in the three levels of the lift at the time.
Another employee succumbed to their injuries on November 29.
As at December 4, 23 employees had been discharged from hospital, while another 50 remained in hospital – eight of whom are in critical care.
In collaboration with the families of affected employees, Implats has set aside December 6 as a day of remembrance for its employees.
“A memorial service will be held at Impala Rustenburg to allow for our employees to come together to honour the memory of our lost, injured and affected colleagues. In line with the wishes of the families involved, Implats will only release the names of our deceased colleagues on the day of the memorial service,” the company says.
Australia Stock Exchange-listed oil and gas exploration company Invictus Energy has confirmed a significant gas discovery at its Mukuyu2 exploration well at the Cabora Bassa Project in Zimbabwe.
Rudairo Mapuranga
According to Invictus Managing Director Scott MacMillan, a total of four hydrocarbon samples were recovered to the surface from two separate zones in the Upper Angwa using the wireline formation testing tool. A further two formation water samples were recovered from the Basal Pebbly Arkoseformation.
He said gas and fluid properties from the recovered samples will be confirmed following laboratory testing once the sample bottles are dispatched from the rig for analysis and no additional fluid samples were captured to preserve the wireline formation sampling tool and remaining sample chambers for use in the interpreted Lower Angwa hydrocarbon-bearing zones where thicker sandstone units were penetrated in Mukuyu-2.
He said, significant additional gross sands were intersected within the Upper Angwa gas leg but are below the current net reservoir cut-off. These intervals may have better reservoir development elsewhere in the Mukuyu field and along with the refinement to the net pay criteria represent additional upside. Further appraisal and technical evaluation of log, core, seismic and well test data is required to determine the full extent of the resource size.
“We are delighted to declare a gas discovery from the Mukuyu-2 sidetrack well in the Upper Angwa formation.
“The discovery represents one of the most significant developments in the onshore Southern Africa oil and gas industry for decades.
“I’m extremely proud to be involved with the Invictus team and our partners in opening up one of the last untested rift basins. The perseverance and hard work of our dedicated team have paid off.
“The Company has delivered an exceptional result from the first two wells drilled in Mukuyu, which provides us with significant running room in our large portfolio of prospects and leads for further discoveries in our acreage in the Cabora Bassa basin.
“The Mukuyu-2 discovery, 7km away and 450 meters up-dip of the Mukuyu-1 well, which can subsequently be classified as a discovery, provides confirmation of the large potential of the Mukuyu field which has a structural closure of over 200km2.
“With additional hydrocarbon-bearing reservoirs ahead, the focus now is to complete the drilling and evaluation program and obtain further wireline data including fluid samples to declare an additional discovery from the Lower Angwa formation.”
Forward plan
The Exalo Rig 202 will drill ahead toward the sidetrack section Total Depth at approximately 3,400mMD through Lower Angwa reservoirs where multiple zones interpreted from logs to be hydrocarbon bearing were intersected in Mukuyu2.
Following the conclusion of the drilling of the 8 ½ inch hoe section, the sidetrack well will be logged including wireline formation testing and fluid sampling and final results provided.
SG 90% AND ABOVE US$62.25/g
SG ABOVE 85% BUT BELOW 90% US$61.59g
SG ABOVE 80% BUT BELOW 85% US$60.93/g
SG ABOVE 75% BUT BELOW 80% US$60.27/g
SAMPLE BELOW 10g BUT ABOVE 5g US$59.29/g
FIRE ASSAY CASH US$62.58/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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