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Four die in conveyor collapse at Sibanye

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Four contractor employees died and another was seriously injured when a newly constructed surface waste rock conveyor collapsed, at the Sibanye-Stillwater Burnstone project last week.

Sibanye-Stillwater, a multinational mining and metals processing group, reported the tragic incident that occurred on Thursday, 13 April 2023, at its Burnstone project near the town of Balfour in South Africa.

According to the statement issued by the company, a newly constructed surface waste rock conveyor collapsed while five contractor employees were installing a head pulley of the conveyor infrastructure.

The incident resulted in the loss of lives, and Sibanye-Stillwater expressed its deepest condolences to the families and colleagues of the affected contractors. The company promised to provide all necessary assistance and support during this difficult time.

“Tragically four persons were fatally injured, while a fifth person sustained serious injuries and is currently receiving treatment,” the company added. “The board and management of Sibanye-Stillwater extends their sincere condolences to the family, friends and colleagues of the deceased.” the company said on Thursday.

The incident is currently under investigation, and Sibanye-Stillwater has assured all relevant stakeholders that they will be informed of the findings once the investigation is complete.

The miner has had a challenging track record in recent years with 18 employees out of the country’s 55 deaths losing their lives at its mines in 2021.

Neal Froneman, CEO of Sibanye-Stillwater, at the time said the incidence of fatalities, in particular, was “of grave concern. We are appalled by the loss of our employees’ lives at our mines over the past year,” he added.

“While we cannot rectify the harm that has occurred, we will continue to support the families as best we can in their grief,” he said.

Sibanye-Stillwater is one of the world’s largest primary producers of platinum, palladium, and rhodium, and it is also a top-tier gold producer. The company’s operations extend across South Africa, Zimbabwe, and the United States. Sibanye-Stillwater produces and refines iridium and ruthenium, nickel, chrome, copper, and co

Premier African Minerals kick start operations at Zulu

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Premier African Minerals has commenced operations at its Zulu Lithium Mine near Bulawayo and says it will produce the first ore at the mining facility by mid-April.

The company recently made its first blast at the mine and is now waiting for one regent to arrive before it will be able to produce SE6, a concentrate and a step up in the processing of the ore that the company is planning to export.

“We are waiting for one regent to arrive which is on its way. The objective is to produce SE6 as it is known. It’s a concentrate and a step up in processing of the ore that we are planning to export,” Chief Executive Officer George Roach said.

Premier African Minerals anticipates that it will be one of the early producers of high-grade Spodumene in the country.

 “I think we are going to be one of the early producers of high grade Spodumene (source of lithium) in Zimbabwe” Roach added on.

Zimbabwe has the largest lithium reserves in Africa and the sixth-largest deposits worldwide. It has the highest number of Lithium projects under exploration on the continent.

The Ministry of Mines and Mining Development (MMMD) and the Minerals Marketing Corporation of Zimbabwe list Areas of verified Lithium deposits in Zimbabwe are found in Goromonzi, Mudzi, Buhera, Bikita, Chegutu, Hwange, Harare, Insiza, Rushinga, Mutoko, Mutare and Hwange. However, Lithium continues to be discovered in various areas across the country. So far the mineral has been discovered in areas such as Mberengwa, Fort Rixon, Bindura, and Kadoma cementing the statement by veteran Geologist Mr Kennedy Mtetwa that “Zimbabwe is hamstrung by lack of exploration”.

The country’s underground lithium deposits are some of the largest in the world, offering considerable scope for new discoveries.

41 Zim men arrested for illegal chrome mining

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South Africa Police Service (SAPS) have announced that they have made 43 arrests for illegal mining.

The arrests were made in Ga-Phasha Village, located in the Limpopo province in the north of the country. The raid took place at around 11 pm local time on Tuesday evening and resulted in the arrest of 41 undocumented Zimbabweans, as well as one Mozambican and a single South African.

Upon arrival, police discovered that the suspects were mining a precious metal, chrome, without the requisite authorisation.

The mine was cordoned off, and the suspects were quickly rounded up. In addition to the arrests, police also revealed that they had seized 12 generators and 10 jackhammers – all worth around $10,000 – as well as chrome, with a rough estimate to be worth over $58,000.

Illegal mining has become a significant problem in South Africa, with many individuals from neighbouring countries entering the country illegally to mine precious metals. This, experts say has led to an increase in organised crime around illegal mining and has placed a significant burden on local law enforcement resources.

Tharisa: Harsh weather leads to 10% reduction in production

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The adverse effects of harsh weather conditions on Tharisa, a chrome and platinum group metals (PGM) miner, have led to a 10% reduction in its full-year production guidance.

This has impacted the company’s open pit mining operations from December last year to February this year.

Tharisa had previously forecasted the development of between 175,000oz and 185,000oz of PGM and 1.75mt to 1.85mt of chrome concentrates in the year leading up to September.

CEO Phoevos Pouroulis confirmed that the cut would have a financial impact, but this would be offset by high chrome prices, which could reach up to $300/t. He expects the Tharisa mine to perform better in the second half of the financial year.

For Pouroulis, PGM prices have recently reduced, but seem to be performing well: “even at these levels, we continue to generate healthy margins”.

Meanwhile, rhodium and palladium prices are most affected by the market, with rhodium suffering from a small, tight, illiquid market that is influenced by a solitary seller. Nevertheless, the outlook for the PGM basket remains strong, with tight supply and firm demand driving prices up.

Pouroulis cited platinum as the standout metal in the market, as the shift into a supply deficit becomes more evident. According to Pouroulis, the long-term fundamentals for chrome are “firmly intact”. He added that despite historically low levels of stockpiles in China, demand for the product from South Africa remains strong, as supply from the country has been hampered by load shedding and inland logistics challenges.

Tharisa is now moving forward with developing the Karo PGM mine in Zimbabwe. Pouroulis has confirmed that the earthwork is on schedule, and civils contracts have already been awarded for the construction of plants and infrastructure.

Turning to the PGM market Pouroulis said PGM prices came under pressure during the March quarter “as demand softened and destocking took some shine off the strong pricing seen in the 2022 financial year.

“Rhodium and palladium prices remain the most affected with rhodium suffering from a small, tight, illiquid market influenced by a single seller.  However, the outlook for the PGM basket remains strong as tight supply and strong demand will ensure prices strengthen, with platinum the standout metal as the continued shift into supply deficit becomes evident.” he concluded.

Zimbabwe Lithium exports can surpass gold – Chinamo

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The Zimbabwe Investment and Development Agency (Zida) CEO, Tafadzwa Chinamo, has stated that lithium could surpass gold as the country’s primary forex earner due to increasing investor interest in the mineral.

Chinamo revealed that there had been a significant surge in investor interest in lithium this year, with many enquiries and licenses issued by ZIDA dominated by mining. He also noted that lithium is the buzzword these days, and if the entire value chain of lithium is explored, there is no reason why it cannot surpass gold.

“Investor interest is definitely there as you shall see from the (soon to be released investment) figures. There was a lot of investments, a lot of enquiries, a lot of licences issued by Zida dominated obviously by mining,” he told a local weekly.

“Lithium is the buzz (word) these days, so a lot of investment is going in there. The trend continued in 2023 if not at a faster pace so there is definitely interest. If we do the entire value chain of lithium, I don’t see why it can’t surpass gold. If you are processing it to those levels or much, much, more then definitely it will be a major export.”

Lithium’s popularity stems from the fact that it is a key component of electric vehicle batteries, and global EV sales are skyrocketing. According to American financial services provider Fitch Solutions, Zimbabwe is one of two emerging lithium producers on the global market, with global production projected to quadruple between 2022 and 2031.

Zimbabwe’s top lithium miners are Chinese firms Zhejiang Huayou Cobalt, Sinomine Resource Group, and Chengxin Lithium Group, which have invested over $600 million in their operations. The country is expected to produce 54,500 tonnes of lithium this year, a 9% increase from last year, according to the Chamber of Mines of Zimbabwe.

Chinamo believes that if lithium is processed to its maximum potential or beyond, it can be a significant export commodity, generating more forex revenue than gold. Official statistics indicate that gold generates over $1 billion in export revenue annually. He stated that investor interest in the mineral is growing, and the trend is expected to continue in 2023.

Zimbabwe’s lithium sector is booming, and the mineral’s potential economic benefits are enormous. If harnessed correctly, lithium could be a game-changer for the country’s economy, surpassing gold as the primary forex earner.

Nyasha Muzata, a young woman changing the narrative in mining industry

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In issue 63, Mining Zimbabwe (MZ) interviewed Nyasha Muzata (NM) a highly motivated, focused and eloquent Mining Engineer at AECI Mining Explosives.

The young engineer holds a Bachelor’s Degree in Mining Engineering from the University of Annaba, Algeria. After completing her Blast Competence Programme with AECI, Nyasha then went on to pursue Explosives Engineering with Northwest University, South Africa. She has also completed a Foundation Management Development Programme with Stellenbosch Business School and a Sales Development Programme with Mercuri Sales International. She also holds a Train the Trainer Certification from the Zimbabwe Institute of Management.

Here is how the interview went!

MZ  This is women’s month and we are privileged to have you Nyasha. I hope this interview will inspire other women, especially the young generation to take part in the mining industry. Let me begin by congratulating you on having your Technical paper win the 2022 AECI WEETR Conference, in South Africa.

NM       Thank you Mining Zimbabwe for recognizing the significance of women in Mining and giving us an opportunity to air our views. Please keep it up! To me, it’s a great honour to feature in your magazine, especially in this women’s month. It gives me confidence that at least we are headed in the right direction.

MZ          Before we get into our discussion, please tell me who is Nyasha and what do you do.

NM       Nyasha is a young lady with big dreams. Dreams to impact the world positively. I was born and raised in Zimbabwe, a place called Chiweshe, in Mazowe District. Just like any other humble background African child, lacked career guidance but I should hasten to say academically I was in a safe place. At one point I wanted to be a Medical doctor, at another an Aeronautical engineer and the list goes on. But what aided my final decision to be a mining engineer is my strong relationship with my Father to whom I give credit for suggesting that I consider mining engineering. And so, I became a Mining Engineer who is now working for AECI Mining Explosives, a world leader in the manufacturing and supply of explosives and blasting solutions. I joined AECI in 2018 as a graduate trainee and am now part of the front-end engineering personnel, working as an Explosives Engineer.

MZ          Back to the WEETR Conference, tell me a bit more about this conference, your achievement, your experience and the opportunities it opened for you?

NM       WEETR stands for Workshop for Explosives Engineers and Technical Representatives, so this is a gathering of all the technical people in the field of Explosives Engineering for AECI. During the two-day conference, the delegates get to listen and participate in various discussions and technical presentations around best and next practices in the world of explosives and blasting from the different business units around the world. The theme for the conference was BETTER BLASTING with Sustainable Technology. The conference was held in September 2022, in Sandton South Africa.

So earlier during the year a call for papers was announced and I took the challenge. So from all the submissions from around the world, the technical committee gets to choose 5 presentations that will then be presented at the conference. My paper was about the Shock Tube initiation system and the value it was giving to one of our customer sites. I stood there among the giants in the industry, it was a tight contest and I give it to other presenters. My presentation was then voted the best and as part of the competition prize, I was sponsored to attend the International Society of Explosives Engineers Conference in San Antonio, Texas USA.

From the WEETR conference, I learnt that every presentation is a story. You as the presenter know the story better than everybody else so when it’s coming from you, it has to flow. You can’t be afraid to tell your story, not when every person is ready to listen to you and you have prepared for that. Seize the moment with your audience and leave them wanting more!

MZ          You then had the privilege to attend the ISEE 49th conference on Blasting in San Antonio. What were the key highlights from this conference?

NM       I loved the technical presentations more than anything else, they were perfectly designed to educate in a way many could relate to. I remember when I did the Train the Trainer course and the facilitator told us about the use of visual aids when presenting, and the presenter on Fly rock Control and Monitoring at the Conference did just that. He brought a piece of rock he had extracted from the fly rock incident he was once involved in decades ago and this just brought the moment back to life.

There was training, presentations from around the world, opportunities to network and share experiences with other delegates and access to the latest technology on display at the exhibition stands. What stood out the most about the conference was the opportunity to learn in a number of ways and be part of the ISEE Emerging Professionals. For someone who was in America for the first time, the experience was just exhilarating and having the opportunity to be in dialect with other professionals in the industry was also exciting and rich in experience. After this, I feel supercharged.

MZ          Was this your first exposure to an international platform or audience?

NM       This is definitely the biggest exposure to an international audience that I have had. I have always been someone who enjoys taking up challenges and giving my best to it. I remember back in 2014 whilst pursuing my undergraduate studies in Algeria I attended the Global Development Network Conference in Accra, Ghana.  This was after the paper I had co-authored in an essay contest, Imagine-Africa-2025 won. However, everything at ISEE was bigger.

MZ        We also hold several conferences here in Zimbabwe, comparing with what you saw in San Antonio are we far off? What advice would you give to conference organizers?

NM       From my experience attending local conferences and exhibitions I don’t think we are far off.  What I saw and emulated at the ISEE conference was the Introduction of engaging activities like the ISEE social where people meet, greet, chat and drink. There was an inclusion of spousal programs and families on the agenda where they get to engage in activities as spouses or families. This helps the spouses to understand the kind of industry their partners are in and who knows, this may be a way of cementing more families together. In terms of the technology on exhibition, we are almost there and let us just keep looking at opportunities to do it better.

MZ          We have ISEE at an international level, do we also have similar local bodies or chapters?

NM       ISEE is an international organization and they have members from around the world. They also have local chapters in different regions. Here in Africa at the moment, we don’t have a board such as ISEE which is focused on explosives engineering and there is no ISEE chapter as well but we have similar organizations such as the Southern African Institute of Mining and Metallurgy SAIMM that one can join and be a member. Going into the future, and now with the active involvement of Women (laughing) in the explosives engineering scene very soon we are going to see a chapter coming out of the African Continent.

MZ          Is the Explosives Engineering profession a common profession in Zimbabwe? How does one become an explosives Engineer?

NM       Explosives and blasting work are very common in Zimbabwe but the profession (qualified Explosives Engineers) is not very common. For one to be an explosives engineer, you need a mining or blasting background and training. Back in the day you needed to join explosives supplying companies like AECI and they would train you but now they are universities that can train one to be an Explosives Engineer. As for me, I did a mining engineering degree then I specialized in Explosives Engineering. I did the course with North-West University in South Africa in partnership with AECI. Other international bodies such as ISEE offer courses in the field of explosives engineering as well.

MZ          Can you describe the working environment of an Explosives Engineer, the duties, tools, equipment and technologies you use in your day-to-day work?

NM       Explosives Engineers work with explosives. They work in different environments such as mining and construction, military and other manufacturing industries. They use both science and engineering principles to safely design, initiate and monitor the use of explosives. In the mining industry, they play a pivotal role in the extraction of minerals that provide raw materials for industrial processes. Explosives are used to break ore or waste or to create space for other infrastructure.

Explosives Engineers use a lot of technology and tools in their day-to-day work. This includes drilling and charging equipment, blast design and predictive software, explosives and blasting performance monitoring equipment.

MZ          Besides Explosives, what other specializations can one pursue in the mining industry? Are they all friendly to women?

NM       There are lots of opportunities in the mining industry and slowly the world is moving from gender-based careers. One can get into production, mine planning and design, mine support services such as survey, geology, mine ventilation, and machine operation …. The list is endless. In all these areas, women have participated and matched their male counterparts. Remember in everything that a man can do, a woman can do better. There are many opportunities you just have to identify your area and pursue it with diligence.

MZ          The art of blasting has evolved over a long period, from the discovery of gunpowder and the safety fuse to the current technologies. Is blasting going to continue into the future and which products and blasting systems are we going to be using? What are the factors that are shaping these changes?

NM       In my opinion, blasting is the way to go for the foreseeable future, however, we are headed towards more sophisticated technologies, more than just electronics… Maybe a completely autonomous way of doing things! This is due to the need for not just more efficient but safer and more sustainable ways of mineral extraction.

MZ          You are one of the few females who is leading in a male-dominated environment, what are some of the challenges you face and how do you overcome them?

NM       Apart from the muscle power and deep voice (chuckles), I would want to believe am equally equipped.  Situational leadership always wins! It’s true the world is in the process of accepting women in male-dominated industries. When you get appointed people around you would want to see if you really deserve the title and in some cases want to prove that. I apply the technical, management and soft skills that I have acquired over the years and I get results every time. That level of scrutiny pushes me to do better and to play my small part in convincing the world that women can do it. Why not.

MZ          The mining environment is considered to be harsh, looking back in your career, do you sometimes regret ever choosing the mining profession?

NM       Yes indeed mining is not for the faint-hearted. When the going gets tough, the tough get going.  I could never regret the great decision I made, I wouldn’t be here today. In fact, I regret the time I wasted thinking I could do something else.

MZ          What qualifications do you hold?

NM       I hold a Bachelor’s Degree in Mining Engineering from the University of Annaba, Algeria. As part of my professional development, after completing my Blast Competence Programme with AECI, I then went on to pursue Explosives Engineering with Northwest University, South Africa. I have also completed a Foundation Management Development Programme with Stellenbosch Business School and a Sales Development Programme with Mercuri Sales International. I hold a Train the Trainer Certification from the Zimbabwe Institute of Management. Training is something I really enjoy; I come from rich training background – both my parents are teachers by the way. I am currently in my final MBA semester with the University of Zimbabwe.

MZ          You did your first mining degree in Algeria, and you have done some qualifications locally and in South Africa as well. Based on your exposure to all these universities and colleges, how do you rate our education and curriculum? Are we producing students fit for the industry?

NM       It’s true, I have had exposure to some courses with universities and colleges in different countries. My opinion is that we are producing fairly good students who are in demand on a global scale. Hardly a day passes without one of the Zimbabweans making it big on a global scale. Of course, we have our own challenges that need to be addressed. If you look at it right now, the industry is not really coming to the party and supporting the colleges to produce graduates that are fit for the industry. If you look at it now, only a few companies are investing in training and taking in students on attachment and graduate traineeship. The colleges should produce graduates who are entrepreneurial and not only look for work but focus on creating work. Look at graduates from universities like MIT and Harvard, they are geared and supported to create multibillion-dollar industries. Something which is lacking in our curriculum.

MZ          Let us talk more about your career and development. What role did the companies you worked for play in moulding you to be the person you are?

NM       I have worked at different companies from the days of my industrial attachment into my professional life. I have also been exposed to the different customer operations. This has allowed me to close the gap between theory and practice and an opportunity to be mentored and provide mentorship to others as well. My current employer invests in developing people and I am very grateful. The company’s strategy encompasses PASSIONATE, PURPOSE-LED PEOPLE as one of its strategic themes.

MZ          You mention the issue of mentorship, why is it so important that one needs to have a mentor in their career?

NM       That is very key, especially in the early days of one’s career. You need to have someone who has walked the path before you. It’s like you are doing it for the second, third or fourth time and yet you might just be giving it your first shot. Mentorship played a big role in my career and will continue to do so. Be intentional, choose a mentor and let them know that they will be mentoring you.

MZ          Our small-scale miners are contributing significantly to the mining industry, in terms of blasting are they using the right technologies?

NM       The small-scale mining industry is contributing immensely to the Zimbabwean economy. There is a need for continuous improvement in terms of the equipment and blasting technologies that they can adopt so that their mining can be sustainable (profit, people and planet). A lot has changed in the industry and the small-scale miners need to catch up. It’s the responsibility of those in the industry to assist this sector so that they can also reap the benefits of advances in technology. Some low-hanging fruits are the use of bulk explosives, the emulsion type using PCU pumps, remote blast initiation systems etc.

MZ          What are some of the mistakes that young female mining professionals make in their early career and what do you think should be done to correct them?

NM       Female mining professionals are not exempted from the mistakes that their male counterparts make. Over and above that, the females are intimidated by the dominance of male professionals to the extent that they don’t go all out to explore their full potential. They need to confront the environment positively just like any other working environment and they also have to keep the interactions professional.

MZ          Let us talk about sustainability and impact. Besides your work contribution, what other roles are you playing to help in making the mining industry a better place for future generations?

NM       Nowadays you can’t talk about running a business without talking about how the business is going to contribute positively to a better tomorrow. Companies are investing a lot in achieving this and individuals also have a role to play. In my small way, I am passionate about gender equality and the improvement of quality education. Whenever I get the opportunity to mentor, coach and develop young people I do it with passion. I will use my skill to better the profession and contribute to the sustainable development of my country.

MZ          What opportunities are there for the young and innovative minds in the industry?

NM       If the rate of change outside is faster than the rate of change inside, you know the end is near. – Jack Welch. The opportunities lie in optimized efficiency and productivity, establishing organized supply chains, promoting safety and sustainability, compliance obligations and even people’s welfare. The mining industry is an ever-changing working environment and hence there is a need to have evolving patterns in managing change to remain relevant and competitive in the region. You mentioned we started with gunpowder, who knows in the future we might be blasting in the comfort of our homes.

MZ          Where do you see yourself in 5, 10 years from now?

NM       I am shooting for a goal. I have very big dreams and the sky will never be my limit. I have been with AECI for 5 years now and looking at my journey thus far… As you have seen, I am honing my skills in both technical and business management. I am preparing myself for Senior Management or Executive role in the mining industry. I believe in the power of words.

MZ          We are in the women’s month, what changes (if any) would you like to see in the work environment to promote women’s participation at all levels?

NM       Participation begins with involvement and inclusion; the more women we have in some of these crucial positions, the more we will see more women motivated to participate. It calls for support not just from men but from other women as well, let us not be our own enemies. It’s a general tendency for women to shy away from seemingly harsh working environments but, believe me, women might just as be better suited for any environment just like our male counterparts or even better.

MZ          Your word of advice to young women and young professionals?

NM       Carpe diem – Seize the day! Every day is an opportunity to get you where you want, if you can imagine it you can achieve it. Put yourself out there like Steve Jobs said, “You can’t connect the dots looking forward, you can only connect them looking backwards”, at some point and time, it will all make sense. Never be afraid to try and if you want to try better, try with a mentor.

MZ          Who is your role model in the mining sector?

NM       I am challenged by women who have done so well in the mining industry. People like Mpumi Zikalala (Kumba Iron Ore CEO), Meagan Van Den Berg (AECI Executive for Southern Africa), the former Larfage CEO Precious Murena Nyika and the list goes on. These are the mighty women that I look up to and I believe one day I will also be there as a torch bearer for the girl child.

MZ          Off the work environment, what occupies Nyasha?

NM       I am an outdoor and quite adventurous person who loves nature walks and sightseeing. I enjoy spending quality time with family, as the family-oriented person that I am. I also think of myself as a very artistic person, visual art is my thing!

 

Mining Indaba: uncovering conversations between mining CEOs & Ministers

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It’s been 13 years since the development of the Africa Mining Vision – a continental body established to ensure “transparent, equitable and optimal exploitation of mineral resources to underpin broad-based sustainable growth and socio-economic development.” With this drive stronger than it has ever been, Africa is looking for mining policymakers to create solutions that steer the continent to utilise and maximise its resources – especially for the upliftment of local economies.

This year’s Ministerial Symposium was the perfect opportunity to explore these opportunities through dialogues amongst 73 C-level mining executives, 22 ministers, 7 ambassadors and high commissioners, and 49 government officials to strengthen public-private collaboration.

DOWNLOAD REPORT HERE

Source: Mining Indaba

Zimbabwe gold buying prices 12 April 2023

Fidelity Gold Refinery (FGR) official gold buying prices Wednesday 12 April 2023. See the Zimbabwe gold buying prices for today.

SG 90% AND ABOVE US$61.14/g
SG ABOVE 85% BUT BELOW 90% US$60.17/g
SG ABOVE 80% BUT BELOW 85% US$59.53/g
SG ABOVE 75% BUT BELOW 80% US$58.89/g
SAMPLE BELOW 10g BUT ABOVE 5g US$57.92/g
FIRE ASSAY CASH US$61.14/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.

Underground Plant and Machinery Insurance

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Underground mining equipment is usually of high value and specialized making it crucial for mining businesses to have the correct insurance coverage to safeguard these assets. Underground Plant and Machinery insurance is a solution designed specifically to protect businesses from the unique hazards they encounter by owning, operating, or even hiring such equipment.

The plant and machinery is exposed to several risks, including physical damage or breakdown which can be caused by natural disasters, such as floods, fires, earthquakes, man-induced issues like vandalism, operator errors and electrical issues, or mechanical failure within the machinery itself.

Having the correct insurance is critical to enable the business to quickly replace, repair or plug revenue loss due to damage to critical plant. The Underground Plant and Machinery insurance provides protection in a number of areas including:

  1. Property damage protection for the plant and machinery for losses caused by fire, mine collapse, flooding, operator accidents and associated perils. This enables the business to repair or replace the damaged equipment.
  2. Machinery breakdown provides protection for plant when it breaks down due to sudden and unforeseen physical loss of or damage whether at work or at rest, or being dismantled for the purpose of cleaning, inspection, or overhauling, or in the course of the operations.
  3. Business income protection covers the business from the resultant loss in profits or increases in operating expenses (for example via hiring a replacement machine) that the company incurs during the period the plant is being repaired or before its replacement arrives.
  4. With the advent of semi-autonomous machinery, some form of cyber insurance cover maybe required to protect against losses or damages to machinery due to cyber-attacks and hacking-related causes.
  5. Protection can be extended to include contractors’ plant and machinery covered against similar causes for loss and damage as those above.
  6. Firstlink assists clients to structure adequate cover for the size and scope of their operations. Our clients also benefit from our dedicated claim’s service in the event of a loss. Our approach removes the ambiguity and complexity often associated with mining insurance claims.

Talk to us today about cover for your mining operation on (0242)744048/79, 0772392075, 0773589694 or 0772434103 or email [email protected]

Tichaona Chihambakwe is the Head of Business Development and Marketing for Firstlink Insurance Brokers.

Caledonia raises $5.8m in Zimbabwe placing

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Gold miner Caledonia Mining Corporation has announced the conclusion of a placing that raised $ 5.8 million on the Victoria Falls Stock Exchange.

The Zimbabwe placing received strong support from new and existing institutional investors, with a total of 423 951 Zimbabwe Depository Receipts (ZDRs) having been placed at a price of $12.74 apiece.

Additionally, a total 781 749 placing shares were admitted to trading on the LSE’s Aim on March 30, which, together with the ZDRs, amounts to 1.2-million common shares having been placed in the form of depositary interests, ZDRs and fundraising, totalling $16.5-million before expenses.

The net proceeds of the fundraise, together with Caledonia’s existing cash reserves, has strengthened the balance sheet and provides the company with working capital flexibility to accelerate planned work at three new gold projects in Zimbabwe.

Moreover, further to Caledonia announcing on January 6 its acquisition of Bilboes Gold, it has instructed the issue of a further 256 152 shares.

Under the terms of the transaction, 5% of the total consideration shares, being deferred shares, were retained by Caledonia so that adjustments to the purchase price could be calculated after completion to account for any extraordinary liabilities incurred.

The 256 152 depository interests, representing the deferred shares, will be admitted to trading on Aim on or about April 14.

Following the issue of the deferred shares and the ZDRs, Caledonia has a total of 19.1-million shares in issue, all of which have voting rights.

Caledonia’s flagship asset is the Blanket mine in Zimbabwe. It is also developing the Maligreen, Motapa and Bilboes deposits.

Mining Weekly