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Mining Indaba 2024 explores the just energy transition and asks– What does it mean to be just?

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Mining Indaba 2024 explores the just energy transition and asks– What does it mean to be just?

The global energy transition is driving huge growth in the demand for critical minerals, which are found in abundance on the African continent. Mining Indaba’s Sustainability Series will ask what it means to be just in a panel session discussion titled ‘The Energy Transition: What does it mean to be just?’ on Tuesday 6 February at 10:55.

 

The discussion will centre around how Africa can take advantage of the energy transition to ensure a cleaner energy future, while at the same time considering responsible sourcing and sustained, ethical supplies of the critical minerals needed. Also under discussion will be how the continent can power the production of transition minerals while ensuring justice for employees affected through local content partnerships and the distribution of mining benefits.

 

The International Council of Mining and Metals (ICMM), a foundational partner to Mining Indaba, President & CEO, Rohitesh Dhawan notes that “Critical minerals are the backbone of the energy transition, but how we source and produce them is just as important as how much we need.”

 

Speakers for this all-important panel are Responsible Minerals Initiative Senior Director, Impact, Innovation and Credibility Fabiana Di Lorenzo, Newmont Senior Director, Environmental Affairs-Africa Business Unit Paul Sowley, Seriti Green Development South Africa CEO Peter Venn, The Particle Group & Women in Mining South Africa CEO and Chairperson Raksha Naidoo and Standard Bank South Africa Head of Sustainable Finance Sasha Cook. It will be moderated by Deloitte Partner – Sustainability, Climate Change and Equity, Jayne Mammatt.

 

“Our sustainability programme – now called the Sustainability Series – has been extended to two days. This is our response to the industry’s need to talk about sustainability at length. It is a driving factor for the mining industry and forms one of the most important programmes we offer in 2024. Our priority for this year is for our panellists to start engaging on real challenges in mining to find solutions – in other words, showcasing how they are disruptive in the industry so that other stakeholders can feel inspired and connected with these messages,” says Investing in Mining Indaba Head of Content, Laura Cornish.

 

Another key session taking place on the Disruptors stage, will look at how we can move beyond the standard discourse surrounding the Just Transition and challenge mining companies to explore ideas around community resilience more broadly and with greater consideration. The panel titled “The Silent ‘C’ – Communities! Are they truly part of the net-zero mining discussion?” will be held on Tuesday 6 February at 12:30. Attendees can expect robust conversations on innovative and future-forward approaches that place communities at the heart of net-zero discussions and explore the business case to be made for a net zero strategy for the mining sector that is inclusive, just and resilient.

 

Women in Mining UK Managing Director Stacy Hope will moderate this discussion, with speakers Ivanhoe Mines VP Sustainability Jasmine Abrahams, Exxaro Group Manager Social Impact Tebogo Leepile, Cobalt Institute Head of Responsible Sourcing and Sustainability, Susannah McLaren and Rio Tinto Environmental, Society and Governance Director-Simandou, Trina Gill.

 

It is without doubt that Africa has a large stock of green minerals that can facilitate the energy transition. What is key is understanding the steps needed to ensure that Africa will benefit from supplying these minerals to the world. For attendees looking to gain global insight on this issue, a session titled “How can African mineral producers participate in U.S. clean energy supply chains?” will be held on Wednesday 7 February at 16:40 on the Governments Stage. It will unpack the opportunities for African mineral producing countries to integrate into the U.S. clean energy industries – facilitated by recent climate-related legislation including the Bipartisan Infrastructure Investment and Jobs Act, the Inflation Reduction Act and the CHIPS and Science Act.

 

The panel will draw on a recent report published by the Carnegie Endowment for International Peace which will look at synergies between the United States’ objectives of developing new clean energy supply chains and reorienting its strategic relationship with African countries’ own long-held aspirations to industrialise and transform their economies by leveraging their mineral resources endowments. Leading this session will be Carnegie Endowment for International Peace Director Dr. Zainab Usman.

 

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

It is the must-attend event that drives the mining industry forward and provides attendees with unmatched access to the entire value chain and the most influential players in African mining for four days of high-quality content, deal-making and networking opportunities. Investing in African Mining Indaba 2024 takes place in Cape Town from 5-8 February 2024.

Chipo Mtasa resigns from Zimplats board

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Chipo Mtasa resigns from Zimplats board

The country’s biggest platinum group metal (PGM) producer Zimplats, has announced that Mrs Chipo Mtasa has resigned as a non-executive director of the Company with effect from 8 January 2024.

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According to Zimplats Mrs Mtasa served as the chairperson of the board’s audit and risk committee and was a member of the remuneration committee.

“The board of directors of Zimplats wish to announce that Mrs Chipo Mtasa (“Chipo”) has resigned as a non-executive director of the Company with effect from 8 January 2024.

“Chipo was elected as an independent non-executive director of the Company at the annual general meeting held on 28 October 2019. Chipo served as the chairperson of the board’s audit and risk committee and was a member of the remuneration committee.

“The board extends its sincere appreciation to Chipo for her valuable contribution to the Company during her period as a director of the Company and wishes her every success in the future,” Zimplats said.

Mazoe Mining Company to resume underground operations

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Mazoe Mining Company to resume underground operations

Metalon Corporation-owned Mazowe Mining Company (MMC) has announced its plans to resume underground shaft operations as part of its corporate strategy.

This move aims to reintroduce shaft mining and extensively rehabilitate mining areas to ensure safer mining practices, thereby protecting the lives and well-being of miners, local communities, and the environment.

In a statement, the company said the decision to end all unsafe near-surface mining in favour of more secure operations is a step towards ensuring the overall safety and sustainability of the mining industry. Underground shaft operations are expected to be much safer for miners and the community as a whole. In addition to this, such operations will also significantly contribute to the national fiscus and boost supporting industries.

“Mazowe Mining Company (“MMC”) announces steps to resume underground shaft operations as part of a corporate strategy. This will entail reintroducing shaft mining and extensively rehabilitating mining areas. This step is necessary to ensure that mining is conducted safely, thereby averting loss of life and injury to miners and protecting local communities and the environment,” the company statement reads in part.

“Consequently, MMC is ending all unsafe near-surface mining in favour of more secure operations. Underground shaft operations will be safer for miners and the community. It will also contribute more to the national fiscus and boost supporting industries. This strategic thrust aligns with recent pronouncements by the Government of Zimbabwe, through the Ministry of Mines and Mining Development, unequivocally advocating for safe and sustainable mining.

“We are aware that these necessary measures to enforce responsible mining have faced resistance from some miners. Such actions prevent MMC’s efforts to rehabilitate mining pits and pave the way for safe mining. We note the campaign of misinformation that has targeted the Company, meant to discredit the necessary steps we are taking. MMC is cooperating with all parties involved to ensure the success of this transition to safer mining. Together, we aim to set a benchmark for responsible mining, fostering a secure and sustainable future for all stakeholders”

MMC is cooperating with all parties involved to ensure the success of this transition to safer mining. Together, we aim to set a benchmark for responsible mining, fostering a secure and sustainable future for all stakeholders.,” the statement concludes.

Recently Metallon Corporation announced that it was ending all unsafe mining activities including all small-scale mining, and will be returning operations to formalised mining at its Redwing Mine in Penhalonga where 15 Artisanal miners were stuck underground following a 20-metre mine shaft collapse.

Zimbabwe gold buying prices/ gram 26 January 2023

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Zimbabwe gold buying prices/ gram 26 January 2023

Fidelity Gold Refinery (FGR) official gold buying prices/ gram. See the Zimbabwe gold buying prices/ gram today 26 January 2023.

SG 90% AND ABOVE US$61.48/g
SG ABOVE 85% BUT BELOW 90% US$60.83g
SG ABOVE 80% BUT BELOW 85% US$60.18/g
SG ABOVE 75% BUT BELOW 80% US$59.53/g
SAMPLE BELOW 10g BUT ABOVE 5g US$58.55/g

Fire Assay CASH $61.81/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.

237 Miners died from mining accidents in 2023

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237 Miners died from mining accidents in 2023

Zimbabwe has witnessed a sharp increase in mine accidents, claiming the lives of at least 237 individuals in the year 2023.

This astronomical number is a stark contrast to the 139 fatalities recorded in the previous year, 2022, resulting from 121 mining accidents. The gravity of these figures cannot be understated, shedding light on the urgent need for improved mine safety regulations and increased resources to tackle the mounting issue.

Chief Government Mining Engineer (CGME) Michael Munodawafa, expressed concerns over the alarming rise in mine accidents. He attributed a significant portion of these incidents to unregistered mines operating without proper oversight. According to Eng Munodawafa, the authorities face considerable difficulties in curbing the activities of these illegal miners due to limited resources at their disposal.

“This figure (237 deaths) is scary. Most of the accidents occurred in unregistered mines, and we have a problem controlling these illegal miners because of a shortage of resources. Out of all the miners in the country, less than 50 percent are registered,” Munodawafa said.

This tragic situation serves as an urgent wake-up call for Zimbabwe to address the systemic issues that have allowed for such hazardous conditions to persist in its mining sector.

To effectively combat this escalating crisis, it is imperative for the Zimbabwean government to prioritize the regulation and oversight of the mining industry. This involves a concerted effort to crack down on unregistered mines and hold them accountable for their illegal activities. The allocation of adequate resources to mining authorities is essential, enabling them to perform their duties effectively and ensure strict adherence to safety protocols.

Furthermore, it is paramount to encourage and incentivize miners to register their operations. This can be achieved through targeted awareness campaigns, highlighting the benefits of compliance with mining regulations and the protection it offers to both miners and their communities. By increasing the number of registered miners, the authorities can gain better control over the industry and implement comprehensive safety measures to safeguard workers’ lives.

Collaboration between various stakeholders, including mining companies, trade unions, and civil society organizations, is crucial in creating a safe and sustainable mining sector. These entities must join forces to establish robust safety standards, regularly monitor workplaces, and provide training programs to enhance workers’ knowledge of potential hazards and how to mitigate them.

In an effort to prevent potential loss of lives and damage to mines, the Minister of Mines and Mining Development recently issued a stern warning to all miners, emphasizing the increased risks during the rainy season.

In a statement at the the Ministry’s Head Office in Harare, Minister Zhemu Soda  specifically highlighted the dangers of flooding, weakened ground, and slimes dam breaches, which require miners to exercise caution and responsible mining practices.

He urged all miners, particularly artisanal miners, to be mindful of the potential hazards posed by heavy rainfall stating that the current weather conditions, characterized by torrential rainfall, have intensified these risks.

“We implore all miners to fully understand and take necessary precautions to prevent any loss of lives or damage to equipment and mines,” stated Soda.

Six dead in Canada plane crash carrying Rio Tinto workers to diamond mine

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Six dead in Canada plane crash carrying Rio Tinto workers to diamond mine

Six people have died after a plane carrying workers to a Rio Tinto diamond mine in Canada’s Northwest Territories crashed, officials said.

The small Jetstream aircraft was on its way to the company’s Diavik mine and crashed shortly after take-off.

One survivor was airlifted to a hospital in Yellowknife, the Northwest Territories coroner’s office said.

Rio Tinto said it is working closely with authorities as they investigate the crash.

“We are absolutely devastated by this news,” Rio Tinto’s CEO Jakob Stausholm said in a statement.

Four of the fatalities were passengers, and two others were crew members with Northwestern Air, the Northwest Territories coroner’s office said in a statement on Wednesday.

The plane crashed near Fort Smith, a small town about 740 kilometres south of Yellowknife, north of the Alberta border.

Canada’s public broadcaster CBC reported that the plane crashed about 500 metres from the end of the Fort Smith Regional Airport’s runway. Joint Rescue Coordination Center Trenton said it lost contact with the plane shortly after take-off.

Rio Tinto’s Diavik Diamond Mine is about 300 kilometres northeast of Yellowknife. According to the company’s website, it has been in operation since 2003.

The incident has been “very devastating” for the close-knit community, said Fort Smith’s deputy mayor Dianna Korol.

“Everybody has a little piece — or somebody that they know,” Ms Korol told the CBC.

RJ Simpson, the premier of the Northwest Territories, offered his condolences to the victims’ families and friends.

“The impact of this incident is felt across the territory,” Mr Simpson said.

“The people we lost were not just passengers on a flight; they were neighbours, colleagues, friends and loved ones. Their stories and contributions to our communities will not be forgotten.”

Both the Royal Canadian Mounted Police and the Transportation Safety Board of Canada are investigating the crash.

Fidelity Gold Refinery’s Harare office Extends Operations to Weekends

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Fidelity Gold Refinery’s Harare office Extends Operations to Weekends

Responding to growing demand from customers, Fidelity Gold Refinery (FGR) has announced that its Harare Office will now be open on weekends.

Announcing on its Facebook page recently, the country gold buyer said to serve its customers better its Head office will now be open from 08:00 to 17:00hrs on both Saturdays and Sundays.

This creates convenience since some customers may have urgent needs to sell or refine gold, especially if they are facing financial constraints. By opening over the weekend, FGR can cater to these urgent demands and provide timely services to customers who require immediate processing.

The advantages of the new Saturday and Sunday schedule are manifold. It allows individuals who work during the week to visit the refinery, avoiding any inconvenience or potential loss of earnings. Moreover, businesses engaged in gold trading or refining can now conduct their operations seamlessly over the weekends, enhancing their overall efficiency and productivity.

In addition to being open on weekends, Fidelity Gold Refinery continues to maintain regular weekday business hours, ensuring optimal accessibility for customers.

The facility remains open Monday through Friday, from 09:00 to 18:00hrs, guaranteeing a broad range of hours to cater to various schedules.

Invictus launches an entitlement offer after US$10 million capital raising

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Invictus launches an entitlement offer after US$10 million capital raising

Following its successful raising of over A$15 million against a target of A$10 million to fund the Cabora Bassa oil and gas project in the Muzarabani-Mbire area, Australia Stock Exchange-listed oil and gas exploration company Invictus Energy has launched an entitlement offer for up to AU$15.2 million at AU$0.13 per share.

Rudairo Mapuranga

According to Invictus Managing Director and CEO Scott MacMillan, the Offer is being made as a pro-rata non-renounceable entitlement issue of one Share for every 12 Shares held by Shareholders registered at the Record Date at an issue price of
AU$0.13 per Share together with one Listed Option (OptionASX: IVZOA) for every two Shares subscribed for and issued.

MacMillan said that Based on the capital structure of the Company approximately 117,204,164 Shares and 58,602,082 IVZOA Options may be issued under the Offer to raise up to $15,236,541(before costs). Each option entitles the holder to subscribe for one Share upon exercise of the Option at an exercise price of AU$0.20 with an expiry date of 7 June 2026.

He said the capital raised will fund a range of critical activities, Mukuyu2 well test, preparation for 3D seismic over the Mukuyu gas field and long lead items and preparation for a new high-impact exploration well following the completion of interpretation of recently acquired CB23 infill seismic survey.

“The Company is pleased to release details of its pro-rata non-renounceable entitlement offer following the recent Placement for sophisticated and institutional investors in December 2023.

“Interest in the Placement surpassed our initial target of $10 million, extending the capital raise to more than $15 million and the Company committed to extend the same terms to all shareholders via this Offer.

“Funds from the Offer will be invested in important ongoing operational activity at our Cabora Bassa project including well testing at Mukuyu2, where we declared two material gas discoveries in the Upper and Lower Angwa targets last month.

“These discoveries are transformational for the Company, for the onshore oil and gas sector and for Southern African communities that continue to live in the grip of energy shortages.

“Preparation for 3D seismic surveying over Mukuyu2 will be carried out as well as ordering long lead items, planning and preparation for a new high impact exploration well within our commanding 360,000ha project area,” MacMillan said.

RioZim LTI decreases 25 percent 

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RioZim LTI decreases 25 percent 
As part of its efforts to achieve zero harm, Zimbabwe Stock Exchange-listed diversified mining company RioZim recorded a 25 per cent decrease in lost time injuries (LTI) during the financial 2022, compared to the previous year.
Rudairo Mapuranga
During the period, the group recorded 9 LTI compared to 12 in the prior year.
The Group however recorded 2 fatalities with the first employee involved in a road traffic accident whilst on duty at Cam and Motor Mine in Kadoma, sustained injuries which resulted in a fatality. The second death occurred at Dalny open Pit when an employee slipped and drowned whilst working on a dewatering pump.
According to RioZim continuous efforts through pre-task risk assessments, HSE interactions and inspections, trainings and reviewing safe work procedures are being made to ensure a safe workplace in an effort to ensure that the ground adhere to it’s Emergency Preparedness Plan.
“The Renco Mine Rescue Team participated in the South Zone Chamber of Mines Mandatory Trainng Exercise at Mimosa Mine and the Chamber of Mines Nationa Mine Rescue Competitions at Jena Mnes during the period under revew,” the group said through its 2022 financial report.
According to the Chamber of Mines of Zimbabwe’s state of mining industry, a survey report which was presented on the sidelines of the 26th edition of the mining, engineering and transport expo (MineEntra) 2023 in Bulawayo by lead researcher Professor Albert Makochekanwa large-scale mines recorded 20 fatalities from 20 accidents which are 18 per cent of the total fatalities with 16 of the fatalities happening underground and 4 on the surface.
The report reads that 60 per cent of the fatalities (72) recorded during the period were reported on Small to medium-scale mines from 66 accidents with 62 of the accidents happening underground and 4 on the surface. Illegal operations recorded 28 fatalities from 24 accidents with 23 of the accidents happening underground and 1 on surface.
According to the report, 92 percent of accidents (101) were recorded underground with 8 percent (9) reported on the surface.

RioZim continues to seek other financial backing for 2 800MW Sengwa Power Station 

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RioZim continues to seek other financial backing for 2 800MW Sengwa Power Station 
Zimbabwe Stock Exchange-listed diversified mining company RioZim said it has been committed to engaging various stakeholders for potential partnership on its 2800 MW coal-fired plant, Sengwa Power Station.
Rudairo Mapuranga
The project which had secured funding from China was left stranded after the Asian country pulled back from financing the thermal power project as part of its efforts to curb future carbon emissions.
“The Company continued its engagements with various stakeholders during the year for potential partnerships on this project and our stakeholders will be informed on any further developments,” RioZim said in a statement.
Plans for the multi-billion dollar Sengwa power plant involve more than doubling the country’s current electricity capacity and will help mitigate the Power crisis as the country’s Power uptake increases due to Mining growth.
Earlier this year, RioZim said it is optimistic about reaching financial closure for its 178 megawatts (WM) solar projects after the group resumed engagements with various potential funding partners.
The solar plants will supply electricity to Rio Zim’s mines namely Renco, Cam and Motor and Dalny.
Power supply has remained a major threat to the Group’s operations and the business has been focusing on backup power generators across the mines albeit at a significantly high operating cost.
The Sengwa coal deposit is situated in North Western Zimbabwe, with proven ore reserves of over 525 million tonnes.
The RioZim power station project is based on a coal resource of 1,3 billion tonnes, capable of generating up to 3 000MW of power, almost above  Zimbabwe’s total installed capacity.
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