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Bikita Minerals resumes operations

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Bikita Minerals resumes operations

Zimbabwe’s biggest lithium miner, Bikita Minerals has resumed operations.

Bikita Minerals resumed operations after it suspended operations for seven days to address administrative concerns raised by authorities at the plant the company said in a press release last week.

“This notice serves to inform our stakeholders and partners that we have put our operations on hold for 7 days to address administrative concerns raised by authorities at our plant.

As a law-abiding corporate, we remain committed to fully complying with all requirements of the law and expect to resume operations once all the outstanding issues have been addressed,” the company said recently.

Demand is rising for battery metals like lithium due to an increase in the hunt for cleaner energy.

The company intends to expand existing operations at the mine after purchasing it for $180m in January 2022. A further $200m has been invested in two plants that are being constructed to create 250,000 tonnes of spodumene concentrate and 480,000 tonnes of petalite annually.

These minerals are crucial to the glass and ceramic industry, and a key battery mineral, respectively. The projects are set to begin by July. Chinese firms have invested over $700m in Zimbabwe as the country possesses some of the most significant lithium deposits worldwide.

The Sinomine Zimbabwean mining unit follows after recent partnerships between Chinese firms and Zimbabwe. Chengxin Lithium Group, Zhejiang Huayou Cobalt, and Canmax Technologies have all invested in Zimbabwe.

The Bikita mine is the largest lithium mine in Zimbabwe. The mine is privately owned and holds the world’s largest-known deposit of lithium at approximately 11 million tonnes according to Wikipedia. The mine is located in Masvingo Province. The Bikita Minerals has reserves amounting to 10.8 million tonnes of lithium ore grading 1.4% lithium thus resulting in 0.15 million tonnes of lithium.

Zimbabwe: a Burgeoning Lithium Hub

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Zimbabwe: a Burgeoning Lithium Hub

Boasting the sixth largest lithium reserves globally and representing one of Africa’s biggest producers of the commodity, Zimbabwe is poised to play a crucial role in advancing the global energy transition through the supply of lithium and related products.

With untapped resources, a national agenda to develop the entire lithium value chain and new investment flowing inwards due to growing global demand, the country is well on its way to become a global lithium hub.

Untapped Resources Reflect Production Potential

Boasting Africa’s largest confirmed lithium reserves, Zimbabwe’s massive yet largely untapped mineral resources offer lucrative investment opportunities for investors and mining companies alike. The country’s Bikita Mine is home to approximately 11 million tons of lithium resources, however new exploration campaigns are likely to unlock new levels of reserves. Currently, the country is estimated to have the highest number of lithium projects under exploration in Africa, with the development of projects such as the Arcadia Mine – estimated to hold upwards of 26 million tons; the Zulu Lithium Mine; and others set to position the country as a global producer.

Downstream Focus Triggers Market Growth

While Zimbabwe’s upstream mineral sector is a buzz of exploration, the country has long-relied on international refineries to process and distribute its lithium resources. In 2023, the Government has shifted its focus towards the downstream sector in a bid to drive infrastructure development, employment creation and investments across the domestic market. Recently, the Government imposed a ban on the export of raw lithium in a bid to boost the domestic value chain and strengthen value addition in the minerals sector. As such, the country is well positioned to become both a global producer and regional processing hub, with a strong pipeline of investment opportunities cropping up across the country.

Zimbabwe’s Lithium Production History Reduces Investment Risk

Zimbabwe’s history as a lithium producer dates back six decades. During that time, the country has enjoyed the participation of a slate of international mining companies, established a market-focused business environment while developed the domestic workforce and local content framework in line with global standards. The country’s experience as the biggest lithium producer in Africa coupled with its expanding domestic market not only reduce investment risk in the country but are expected to play a major role in positioning Zimbabwe as a global lithium hub as new players enter the promising market.

Zimbabwe to Meet 20% of Global Lithium Demand

As the global economy shifts to net-zero solutions, the demand for lithium – among other minerals necessary for the production of many clean energy technologies – has begun to dramatically increase, and if the full potential of Zimbabwe’s lithium resources is unlocked, the country will meet upwards of 20% of global demand. Already, investment is flowing in to the country, a testament to the country’s potential of becoming a lithium hub.

Recent developments across the Zimbabwean market include Zhejiang Huayou’s $422 million acquisition of controlling rights to the Arcadia Mine; Premier African Minerals joint venture with Li3 Resources; Sinomine’s $180 million acquisition of a 100% stake in African metals Management Services and Southern African Metals and Minerals; and the $1.7 billion acquisition of the Williams Minerals lithium mine by China Natural Resources.

Furthermore, with China – the world’s largest importer of lithium – having significant interests in the Zimbabwean market, the role the southern African country plays as a major player in the global lithium market continues to grow.

Economic Targets Trigger Long-Term Growth

With the mining industry accounting for a 12% share of the country’s gross domestic product, the Zimbabwean Government has committed to boosting economic growth on the back of lithium investments and developments. The Zimbabwean Government’s plan to turn the mining sector into a $12 billion market in 2023 is expected to not only drive new investments and international player participation in the sector on the back of recently introduced incentives, but will further position the country as a global lithium hub.

Source: ECP

All roads lead to Vic falls for the Mining Industry’s Prime Event

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All roads lead to Vic falls for the Mining Industry’s Prime Event

On the 30th of May 2023, all roads lead to Elephant Hills Hotel in Victoria Falls where the highly anticipated mining industry’s prime event, Chamber of Mines AGM and Annual Mining Conference of 2023 will be taking place.

Mining Zimbabwe spoke to the Chamber of Mines of Zimbabwe (CoMZ) Chief Executive Officer (CEO) Mr Isaac Kwesu who said the must-attend event is a platform for engaging the government and key stakeholders in mining-related issues.

Here is what to expect at the Chamber of Mines AGM and Annual Mining Conference next week.

What is the purpose of the upcoming Chamber of Mines of Zimbabwe’s AGM conference and exhibition?

Chamber of Mines AGM and Annual Mining Conference has emerged to become the mining industry’s prime event which provides a platform to engage Government and key stakeholders on pertinent matters affecting the mining industry.

The closed-door Council and AGM are a Chamber constitutional requirement that provides for discussion of issues affecting the mining industry and Chamber constitutional matters that include the election of Chamber Leadership: members of the Presidium, members of the Council and members of the Executive Committee. The AGM also discusses governance and high-level policy matters that affect the Chamber as a going concern as well as issues affecting the performance of the mining industry.

The Annual Mining Conference is held on the sidelines of the Closed-Door Meetings. The Conference has received overwhelming support over the years and continues to attract key stakeholders including the President of the Republic of Zimbabwe, Government Ministers, senior executives of Mining Houses, and those from the suppliers to the mining industry, investors, financiers, labour and from communities. The participation of the Government has allowed the mining industry an opportunity to build consensus with the Government in developing strategies to unlock the full potential of the mining sector to maximise the contribution of the Sector to the socio-economic development of the country. The Conference also provides an opportunity for suppliers and mining companies to exhibit and showcase their products.

Who are the targeted participants for this conference and exhibition?

The Conference draws participants from Senior Executives of mining companies, suppliers, bankers, financiers, and investors, as well as Senior Government Officials and all other stakeholders with interests in the mining industry. Attendance is open to all interested parties.

What are some of the key themes that will be discussed during the conference sessions?

The Conference will run under the Theme: Mining for Economic Transformation: “Creating Growth Enablers for the Mining Industry”. There will be a Lithium Symposium on the sidelines of the Main Conference running under the Theme: Unleashing the Growth Potential of the Battery Minerals Value Chain.

Can you highlight any notable speakers or presenters who will be attending the event?

The President of the Republic of Zimbabwe, HE Dr. E. D. Mnangagwa has been invited to be the Guest of Honour. Other notable Speakers include Hon. W. Chitando, Minister of Mines and Mining Development, Dr. J. P. Mangudya, Governor, Reserve Bank of Zimbabwe, Mr. July Ndlovu, seasoned mining expert, Mr. John Sisay, international mining expert, G. Botshiwe, Vice President, Chamber of Mines of Namibia, CEOs of Banking Institutions including Stanbic, Nedbank, Ecobank, ZB Bank, Old Mutual, CBZ, Mining Industry Association of Southern Africa, and representatives from Hatch (international technology company). The Victoria Falls Stock Exchange has also been invited to speak at the Annual Mining Conference.

What are the requirements for Companies that want to showcase new technologies or trends that at the exhibition segment of the conference?

There will be opportunities to exhibit at the conference, details can be obtained from the Chamber Secretariat. We urge those interested to make early arrangements as the space available is filling up fast.

What are some of the specific networking opportunities that delegates can expect from attending this conference and exhibition?

There will be several networking and entertainment activities lined up including sponsored boat cruise, dinners, cocktails, and a golf networking tournament. It is our hope that these activities will afford delegates sufficient opportunities to develop networks that support their businesses and personal growth.

Bikita Minerals rehabilitates roads

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Bikita Minerals rehabilitates roads

Bikita Minerals has set aside funds for the rehabilitation of roads in the Bikita and Gutu districts as part of its social responsibility that will help spur economic and social activities.

Apart from the rehabilitation of gravel roads in the two districts, Bikita Minerals has also set up a development fund administered by Chief Marozva.

Speaking during the launch of the road rehabilitation project at Chinhamo shopping centre, Bikita Minerals mine manager David Mwanza said the company is embarking on the road maintenance and rehabilitation exercise as most roads had been affected by rains.

“We have started rehabilitating roads in the district, starting with Bedmore Primary School Road. Most of the roads that we are prioritising are those that have been affected by rains as well as roads linking schools and clinics in the district. There is a popular Chinese saying which says, if you want to get rich, build a road first. It is correct because people can come in and out easily and the community has access to health, school and business facilities,” said Mwanza.

Bikita Minerals this week unveiled a new Corporate Social Responsibility Committee chaired by General Manager Wang Zhenhua and the committee has not wasted time in getting down to work.

The local traditional leader, Chief Marozva, said the move by Bikita Minerals will benefit the community and contribute to the development of the area.

“We appreciate the road rehabilitation works by Bikita Minerals and the local community is very excited as most roads were now impassable. All users of the road will benefit from the rehabilitation of the road including transport operators, businesses and farmers. Good roads are networks that promote beneficial social and economic activities by ensuring a smooth flow of goods and services,” said Chief Marozva.

Meanwhile, Bikita Minerals has also started road construction works on the Bikita – Gutu Road and the project is set for completion by the end of June.

The Lithium miner whose Corporate Social Responsibility focus areas are health, education, employment, water and sanitation has this year set aside US$2 million for the Bikita, Gutu and Zaka rural electrification program. In addition, the mining company has drilled 13 boreholes for the surrounding communities and its school feeding program covering 13 schools in the district which has contributed to high rates in school attendance.

Villagers demand the restoration of their land from Chinese miner

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Villagers demand the restoration of their land from Chinese miner

Villagers from Kanyandura village in Mudzi District are up in arms with Zim Win Mining Company (Pvt) Ltd for digging dangerous trenches in their area during the Chinese firm’s unlawful mineral exploration activities.

Through the Zimbabwe Lawyers for Human Rights (ZLHR), villagers are demanding the filling of all trenches and the restoration of the land to its original state.

Initially, the miner assured villagers its proposed activities were going to be carried out in compliance with all relevant statutes governing the business operation and in the interest of the health and safety of workers and community.

The company had also promised full compensation for any losses incurred by the community as a result of its operations.

Villagers turned down a bid by Zim Win Mining Private Limited to secure their endorsement of the project through signing of consent forms.

The company still went on to excavate a portion of land in the village, leaving a deep trench that is potentially harmful to people and livestock.

This was in direct breach of section 31 of the Mines and Minerals Act.

ZLHR’s Tinashe Chinopfukutwa and Kelvin Kabaya have since demanded reclaiming of the trench.

The lawyers said the company’s consent forms are vague and lack particularity as to the consequences of such mining operations on villagers’ livelihoods, farming activities, environmental impact and the exact nature of compensation for the negative effects of the controversial venture.

The lawyers have also engaged the mines ministry and the Environmental Management Agency (EMA) over the miner’s unlawful activities.

In a letter written to the Provincial Mining Director for Mashonaland East province and to EMA, lawyers complained that Zim Win Mining Private Limited had pegged a substantial portion of the villagers’ land without consulting them.

The pegged land, lawyers said, covers villagers’ principal homesteads, farming and grazing land.

They also complained that Zim Win Mining Private Limited had, through its agents, been exerting undue influence on the villagers to sign consent forms to allow the company to carry out mining operations on their land.

The lawyers asked the Provincial Mining Director to furnish them with a copy of the prospecting licence granted to Zim Win Mining Private Limited, if any was granted.

Chinopfukutwa and Kabaya charged that in the event that a prospecting licence was granted to the company, the pegging of Kanyandura village was unlawful because “according to the provisions of section 31(1) of the Mines and Minerals Act, a holder of a prospecting licence must not exercise any of the rights conferred in terms of the prospecting licence on communal land without the consent of the occupier”.

In addition, the human rights lawyers said the provisions of “section 31(1)(h) of the Mines and Minerals Act, states that no holder of a prospecting licence can proceed to peg communal land occupied as a village without the written consent of the Rural District Council of the area concerned”.

Chinopfukutwa and Kabaya also enquired if any Environment Impact Assessment had been conducted in relation to the mining project.

Zimbabwe gold buying prices 17 May 2023

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Zimbabwe gold buying prices 17 May 2023

Fidelity Gold Refinery (FGR) official gold buying prices Wednesday 17 May 2023. See the Zimbabwe gold buying prices for today.

SG 90% AND ABOVE US$61.31/g
SG ABOVE 85% BUT BELOW 90% US$60.34/g
SG ABOVE 80% BUT BELOW 85% US$59.70/g
SG ABOVE 75% BUT BELOW 80% US$59.05/g
SAMPLE BELOW 10g BUT ABOVE 5g US$58.08/g
FIRE ASSAY CASH US$61.31/g

NB: Fire Assay cash price is for gold above 100gs and 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 charged to Primary Producers

Cash available. Fidelity Gold Refinery prices will be changing daily in relation to world market prices.

Vast finalizes recovery of Diamond parcel from Zimbabwe

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Vast finalizes recovery of Diamond parcel from Zimbabwe

UK miner Vast Resources says it is finalizing the recovery of a parcel of 129,400 carats of rough diamonds in Zimbabwe after a 12-year dispute.

The company successfully sued the country’s Mines and Mining Development Ministry early this year and now plans to sell the diamonds through a tender.

It surrendered gems from the Marange diamond fields amid claims it had exploited them on claims previously owned by De Beers.

In an update issued on the 15th of May the company said its CEO was in Zimbabwe to finalise the diamond issue

“Andrew Prelea, the company’s Chief Executive Officer, is currently in Zimbabwe as the company finalises the recovery of the historic parcel of 129,400 rough diamonds held in safe custody at the Reserve Bank of Zimbabwe pursuant to the High Court Order in the company’s favour.”

Vast, which has mines and projects in Romania, Tajikistan and Zimbabwe, began formal proceedings to recover the gems last December and won a default order against the Mines and Mining Development Ministry.

IDEX

Zimbabwe gold buying prices 16 May 2023

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Zimbabwe gold buying prices 16 May 2023

Fidelity Gold Refinery (FGR) official gold buying prices Tuesday 16 May 2023. See the Zimbabwe gold buying prices for today.

SG 90% AND ABOVE US$61.69/g
SG ABOVE 85% BUT BELOW 90% US$60.72/g
SG ABOVE 80% BUT BELOW 85% US$60.07/g
SG ABOVE 75% BUT BELOW 80% US$59.42/g
SAMPLE BELOW 10g BUT ABOVE 5g US$58.44/g
FIRE ASSAY CASH US$61.69/g

NB: Fire Assay cash price is for gold above 100gs and 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 charged to Primary Producers

Cash available. Fidelity Gold Refinery prices will be changing daily in relation to world market prices.

BREAKING: Bikita Minerals suspends operations

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BREAKING: Bikita Minerals suspends operations

Bikita Minerals has suspended operations for seven days to address administrative concerns raised by authorities at the plant the company has said in a press release.

“This notice serves to inform our stakeholders and partners that we have put our operations on hold for 7 days to address administrative concerns raised by authorities at our plant.

As a law-abiding corporate, we remain committed to fully comply with all requirements of the law and expect to resume operations once all the outstanding issues have been addressed,” the statement reads.

The said company is working with relevant authorities to ensure the matter is resolved within the stipulated time.

“In the meantime, the company’s leadership is working closely with all relevant authorities to ensure that the matter is resolved within the stipulated time frame,” said the lithium miner.

All Employees have been advised to remain at their residences except for those in care and maintenance.

“During this 7-day period All employees to stay at their homes and residences except for those in care and maintenance. Those on essential services will be required to perform their prescribed duties. Bikita Minerals employs 860 workers, whose contribution we hold so dearly and during this period the company will continue to meet its obligations to them,” concluded the statement.

The Bikita mine is the largest lithium mine in Zimbabwe. The mine is privately owned and holds the world’s largest-known deposit of lithium at approximately 11 million tonnes according to Wikipedia. The mine is located in Masvingo Province. The Bikita Minerals has reserves amounting to 10.8 million tonnes of lithium ore grading 1.4% lithium thus resulting in 0.15 million tonnes of lithium.

In June 2022 Chinese Giant Sinomine Resource Group company bought Bikita Minerals for $200 million.

Caledonia results for the quarter ended March 31, 2023

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Caledonia results for the quarter ended March 31, 2023

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) has announced its latest quarterly report, which includes the newly acquired Bilboes mine.

The report indicates that production at the Blanket mine was below target due to equipment failures and logistical issues but these issues have since been resolved, and production has picked up, exceeding expectations.

The company has confirmed its production guidance of 75,000 to 80,000 ounces of gold per annum for the year to December 31, 2023.

The cost per ounce rose due to the high cost of operations at Bilboes, where production only began in the last week of the quarter, as well as higher on-mine costs at Blanket. However, Caledonia has reduced its grid power costs following the implementation of alternative supply arrangements in April. The company’s 12.2MWac solar plant, commissioned in February, has also contributed to a reduction in diesel consumption at Blanket.

In January, Caledonia announced its purchase of Bilboes, with plans to construct a large, open-pit operation to extract sulphide resources. A revised feasibility study is currently underway to maximize the uplift in value for Caledonia shareholders.

The start-up of the additional, small oxide mining and processing activity at Bilboes was affected by underperforming contractor drill rigs and variations between the realized and anticipated grades. Caledonia is evaluating other target areas for oxide mining, both at Bilboes and next door at Motapa, with a focus on areas where there is a high confidence level in the target mining areas. Caledonia has withdrawn guidance for the oxide mining activity and will report production and costs retrospectively.

Operating Highlights

·    16,141 ounces of gold produced in the Quarter (Q1 2022: 18,515 ounces) of which 16,036 ounces were produced at Blanket and 105 ounces were produced at the Bilboes oxide mine.  Gold produced in the Quarter was lower due to lower mine production at Blanket than anticipated and the slower-than-expected restart of the Bilboes oxide mine.

·    Production at Blanket was lower than expected due to minor mechanical breakdowns and logistical issues which have now been resolved.  The rate of production improved in April with 5,202 ounces of gold being produced in the month (which has 23 scheduled production days due to public holidays and production cut-off), which equates to an annualised production rate of approximately 80,000 ounces per annum.

·    The Company is reviewing the commercial viability of the low margin oxides mining activities, which includes assessing the scope to mine and process oxide material from the recently acquired Motapa property, which is immediately adjacent to Bilboes.   Approximately 217 ounces of gold were produced from the Bilboes oxide mine in April; a further approximately 338 ounces of gold was contained in material that was deposited onto the leach pad in April and is expected to report to production in May.   

·    The 12.2MWac solar plant was fully commissioned on February 2, 2023, and is generating slightly more power than anticipated.

Mark Learmonth, Chief Executive Officer, commented:

“The first quarter of 2023 presented several operational challenges at Blanket which resulted in lower production and higher costs.  We are confident these issues have been identified and addressed, and we reiterate our production guidance for Blanket of between 75,000 and 80,000 ounces of gold.

“We were pleased to complete the acquisition of Bilboes at the start of the Quarter.  Although the start-up of the Bilboes oxide mining activity was disappointing, this does not detract from the attraction of the main sulphide project.

“The sulphide resource is based on direct drilling results and has been subjected to independent third-party reviews.  Caledonia has commenced work on a revised feasibility study for the sulphide project which will consider updated commercial assumptions and will focus on the most judicious way to commercialise this project with the objective of maximising value for Caledonia shareholders.      

“Following Caledonia’s oversubscribed fundraise in March and April, which raised approximately $16.5m, our balance sheet and operational flexibility have been improved and we are delighted to have new shareholders on our register who believe in our vision, and we hope will support us in the next stage of our growth.”

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