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Shamva ready for Mine Rescue National Competitions

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Shamva ready for Mine Rescue National Competitions

Shamva Gold Mine Fresh Air Team which was commissioned on Monday said it is ready to challenge in the coming National Mine Rescue competitions to be held later this year.

Rudairo Mapuranga

Last year, the team did not participate in the national rescue competitions and is hoping to make a surprise debut by winning the majority of the trophies this year. During the last year’s competitions, Bulawayo Mining Company’s How Mine rescue team and the country’s biggest Platinum Group Metal producer Zimplats’ SMC Zimplats rescue team dominated at the edition which was held at Jena Mine in Silobela.

According to Shamva Gold Mine Fresh Air Team Manager Rumbidzaishe Kamkazingeni, her team is ready to challenge in the mine rescue competitions and it hopes to become the overall best. She also said that, apart from being ready to challenge for the rescue team’s top prize, her team was also ready to assist small-scale and artisanal miners when it comes to arresting situations.

“As a team that has just been commissioned, we are very excited and I can promise you that we have hit the ground running. Given a chance that we will participate in the fourth coming competition, we are going to excel. In as far as small-scale miners are concerned, in the event that they have been involved in accidents which need our help, we will be more than welcome to assist,” she said.

The team captain, Martin Makanda said his team was going to make a mark in the competition because it was well-prepared and ready to make a statement in as far as mining rescue is concerned.

“We want to make a statement; every team should know that there is a new kid on the block. Definitely, we will make a mark, we have a very committed team and exceptional characters in the team. We want to challenge the best and we are going to make a statement,” Makanda said.

Minister Winston Chitando Mining Indaba Sessions

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Minister Winston Chitando Mining Indaba Sessions

Mines and Mining Development Minister Hon Winston Chitando will this year have two on-stage sessions at Mining Indaba in Cape Town.

Both sessions will be on Wednesday 08 February 2023, with his first session slotted to begin at 11:30hrs. The second session will be at 13:30.

At 11:30 Hon Chitando will be part of a Spotlight Discussion and will be Onstage engaging in a question-and-answer segment on Battery Metals focusing on Lithium and Nickel.

The discussion is centred on the Security of Supply and Resource Nationalism on how can Africa boost its economies and evolve self-empowerment in the Battery Metals Rush.

This intergovernmental summit will be at the Roof Terrace.

At 13:30hrs Zimbabwe’s Mines and Mining Development Minister Hon Winston Chitando will deliver a 15-minute Ministerial address.

During this session, the Minister will speak about various opportunities presented by Zimbabwe, local content, governance, visions behind strategic minerals, and equitable opportunities for partners. The session will also highlight emerging projects and investment opportunities and collaboration between the private and public sectors.

All eyes will be on Zimbabwe as the continent’s biggest Lithium producer as the world focuses on clean energy.

Gold deliveries projected to hit 40 tonnes in 2023

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Gold deliveries projected to hit 40 tonnes in 2023

The country’s sole buyer and exporter, Fidelity Gold Refinery (FGR), has projected gold deliveries to reach 40 tonnes in 2023 mainly due to new gold mining projects coming into production.

FGR General Manager Mr Peter Magaramombe told a local publication that the sole gold buyer projected that the country will reach 40 tonnes of gold submissions in 2023.

“We have projected the gold deliveries in 2023 to reach 40 000 kg, an increase of 4 700 kg or 13.4% on 2022 gold deliveries,” Magaramombe.

Magaramombe said additional gold buying centres will be opened in areas with sizable concentrations of the yellow metal. He added FGR will continue to provide a competitive pricing framework benchmarked to the London Bullion Market Association (LBMA) prices at a discount of 5%.

He added on saying the FGR will continue to offer United States dollar (USD) spot cash payments for gold submitted to the state entity to ensure that small-scale gold producers are not financially constrained.

In 2022 Small scale producers delivered a total of 18.5 tonnes while large-scale producers contributed 11.1 tonnes of the total deliveries.

The country’s small and large gold producers delivered a total of 29 629.61 kg of gold to Fidelity Gold Refinery (Private) Limited (FGR) in 2021, a 55.5% increase from the 19 052.65 kg delivered in 2020. Large gold producers delivered 11 159.0 kg to FGR in 2021 whilst small-scale producers contributed 18 470.61 kg.

High powered Zimbabwe Mining Delegation attending Mining Indaba

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High powered Zimbabwe Mining Delegation attending Mining Indaba

A high-powered delegation from Zimbabwe including the Minister of Mines and Mining Development is attending the 2023 edition of Investing in African Mining Indaba to promote Zimbabwe mining in order to attract capital for the growth and development of the mining industry in Zimbabwe.

Rudairo Mapuranga

The delegates attending one of the world’s most famous mining investment forums are working to support Zimbabwe’s vision to achieve an upper-middle-income economy by 2030 and will deliver the message that Zimbabwe is open for business.

The Minister of Mines and Mining Development Hon Winston Chitando will be joined by the teams from Minerals Marketing Corporation of Zimbabwe (MMCZ), Zimbabwe Miners Federation (ZMF) President Ms Henrietta Rushwaya, Chamber of Mines of Zimbabwe, Zimbabwe Mining Development Corporation (ZMDC), Kuvimba Mining House, Dinson Iron and Steel, and many major players in the Zimbabwe Mining Industry.

To also play our part Mining Zimbabwe is distributing our award-winning Magazine at the Expo to the thousands of Mining Delegates in attendance. The issue is packed with investment content featuring interviews from the Mines and Mining Development Minister Hon Winston Chitando, MMCZ Managing Director Mr Tongai Muzenda, ZCDC Chief Executive Officer Dr Mabhudhu, Dallaglio Investments CEO Marc Nicolle and many other pertinent issues in the Zimbabwe Mining Industry. In his interview, Minister Chitando spoke about the participation of the small-scale sector in the Lithium Revolution amount other issues.

The magazine can be accessed HERE.

At the event, Minister Chitando will address two sessions on Wednesday. He will first lead part of the spotlight discussion and on-stage question and answer session on the Security of Supply and resource Nationalism on How Africa can boost her economies and evolve self-empowerment in the Battey Metals Rush.

He will also have Ministerial Address-Speeches and Onstage Discussions. In this session, Hon Chitando will speak about various opportunities presented by Zimbabwe, local content, governance, visions behind strategic minerals, and equitable opportunities for partners. The session will also highlight emerging project and investment opportunities and collaboration between the private and public sectors.

Investing in African Mining Indaba (Mining Indaba) is solely dedicated to the successful capitalisation and development of mining interests in Africa. Succeeding for over 27 years, Mining Indaba has a unique and widening perspective of the African mining industry, bringing together visionaries and innovators across the entire value chain. Additionally, Mining Indaba continues to support education, career development, sustainable development, and other important causes in Africa.

Mining Indaba is the space for unmissable, high-impact networking, and creating opportunities and conversations to land deal after deal.

President Cyril Ramaphosa to attend Mining Indaba 2023

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President Cyril Ramaphosa to attend Mining Indaba 2023

Investing in African Mining Indaba is pleased to announce that South African President Cyril Ramaphosa has confirmed his attendance at the Mining Indaba, taking place in Cape Town from 6-9 February 2023. The President will deliver a Keynote Address on Tuesday, 7 February.

The President will be accompanied by 8 ministers and 3 deputy ministers; Minister of Mineral Resources and Energy, Gwede Mantashe, and his Deputy Dr Nobuhle Nkabane; Minister of Finance, Enoch Godongwana and his Deputy Dr David Masondo; Minister of Trade, Industry and Competition, Ebrahim Patel; Minister in the Presidency, Mondli Gungubele and his Deputy Thembi Siweya; Minister of Agriculture, Land Reform and Rural Development, Thoko Didiza; Minister of Forestry and Fisheries and the Environment, Barbara Creecy; Minister of Higher Education, Science and Technology,  Dr Blade Nzimande and Minister of Human Settlements, Mmamoloko Kubayi.

The President’s participation in Investing in African Mining Indaba, where he will address mining industry leaders and investors from all over the world, is expected to put his investment and structural reform agenda forward as key to improving South Africa’s standing as a mining investment destination. Critical to this will be the commitment to finding lasting solutions to the power challenges crippling the South African economy and the move to green energy. President Ramaphosa recently unveiled an R1.5 trillion five-year investment plan to bolster the country’s just transition to a greener economy.

Simon Ford, Portfolio Director for Mining Indaba, praised the high-level participation of government and state officials in the highly anticipated 2023 Mining Indaba, noting that the continent was demonstrating a serious commitment to welcoming investment in mining.

Gold buying prices Friday 3 January 2023

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Gold buying prices Friday 3 January 2023

Fidelity Gold Refinery (FGR) official gold buying prices Friday 3 January 2023.

SG 90% AND ABOVE US$58.69/g
SG ABOVE 85% BUT BELOW 90% US$57.76/g
SG ABOVE 80% BUT BELOW 85% US$57.14/g
SG ABOVE 75% BUT BELOW 80% US$56.53/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.60/g
FIRE ASSAY CASH US$58.69/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.

Mashwest Provincial Mining Director (PMD) suspended

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Mashwest Provincial Mining Director (PMD) suspended

The Mashonaland West Provincial Mining Director (PMD) Ms Sibongubuhle Mpindiwa has been suspended with immediate effect.

Deputy Minister of Mines and Mining Development Dr Polite Kambamura confirmed the suspension of the Mashonaland West PMD, however, he did not shed light on the reasons behind the suspension.

Late last year, the Zimbabwe Anti-Corruption Commission (ZACC) arrested Ms Mpindiwa on charges of criminal abuse of office.

This is a developing story…

SA reports the safest year in mining

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SA reports the safest year in mining

South Africa is coming off its safest year on record in mining, with accident-related deaths falling to 49 from 74 the previous year, a government report showed on Tuesday, 31 January.

A total of 1,946 serious injuries were reported in 2022, down from 2,123 a year earlier, the report showed, prompting mines minister Gwede Mantashe to say more needed to be done to improve safety.

“We are improving in fatalities, we are improving in injuries, but the numbers remain high. An incident is a pointer that there was a potential fatality,” Mantashe said during the report’s release in Pretoria.

Mine fatalities have declined since 309 lives were lost in 1999, though 2020 and 2021 saw deaths rise again, industry data shows.

“The industry will build on the momentum we achieved during 2022 when we halted and significantly reversed the regression in safety during the previous two years in which 74 and 60 of our colleagues died in 2021 and 2020, respectively,” said Lerato Tsele, acting head of safety and sustainable development at the Minerals Council of South Africa.

In a statement, the Minerals Council said industry-wide safety initiatives were helping, including a push to eliminate accidents involving falling rocks.

These, which once accounted for about half of all deaths in the sector, fell to six last year from 20 in 2021, the report showed.

Source: bizcommunity

Gold buying prices Thursday 2 January 2023

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Gold buying prices Thursday 2 January 2023

Fidelity Gold Refinery (FGR) official gold buying prices Thursday 2 January 2023.

SG 90% AND ABOVE US$58.82/g
SG ABOVE 85% BUT BELOW 90% US$57.89/g
SG ABOVE 80% BUT BELOW 85% US$57.27/g
SG ABOVE 75% BUT BELOW 80% US$56.65/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.72/g
FIRE ASSAY CASH US$58.82/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.

Gold demand highest in 2022

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Gold demand highest in 2022

The World Gold Council (WCG) has described the year 2022 as a year with the highest gold demand in over a decade on the back of colossal purchases made by central banks, retail investor buying and slower ETF outflows.

Rudairo Mapuranga

According to the WGC in its Gold Demand Trends report for 2022, annual gold demand jumped 18 per cent to 4,741 tonnes, with a strong full-year total Q4 record demand of 1,337 tonnes.

The report states that the demand for gold bars and coins grew 2 per cent to 1,217 tonnes, with the investment portion of demand reaching 1,107 tonnes, representing a 10 per cent increase over 2021. It also outlined that holdings of gold ETFs fell by a smaller amount than in 2021, which further contributed to total investment growth. Quarterly fluctuations in OTC demand largely netted out over the year.

Jewellery consumption according to the report softened a fraction in 2022, down by 3 per cent at 2,086 tonnes. Much of the weakness came through in the fourth quarter as the gold price surged.

“Demand for gold in technology saw a sharp Q4 drop, resulting in a full-year decline of 7 per cent. This was a consequence of deteriorating global economic conditions, which hampered demand for consumer electronics.”

Gold purchases by Central banks In 2022 totalled 1,136 tonnes which is worth $70 billion, which was by far the biggest purchase of any year since 1967. Purchases in Q4 alone (417 tonnes) almost matched that of 2021 (450 tonnes).

The trend underlines a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in Western Europe that own a lot of bullion, sold hundreds of tonnes a year. Since the financial crisis of 2008-09, European banks stopped selling and a growing number of emerging economies such as Russia, Turkey and India have bought.

Central banks like gold because it is expected to hold its value through turbulent times and, unlike currencies and bonds, it does not rely on any issuer or government. It also enables central banks to diversify away from assets like US Treasuries and the dollar.

Outlook for 2023

Looking ahead, the WGC said it has not altered its view of a good year for gold, with more upside potential than downside risk given a growing risk of recession in the US and Europe.

“A lacklustre 2022 for ETF and OTC demand is likely to set the stage for a year of growth in investment,” said the WGC, noting that “gold’s stable performance in 2022, despite strong headwinds from rising rates and a strong dollar for most of the year, has reignited investor interest.”

“Jewellery demand is also likely to capitalize on a resilient 2022, driven primarily by the reopening of China,” the WGC added.

Central bank buying – despite the latest trend – is unlikely to match 2022 levels, according to the Council, as demand remains difficult to forecast partly because it can be policy-driven and does not always respond to the most common economic drivers.

“Lower total reserves may constrain the capacity to add to existing allocations. But lagged reporting by some central banks means that we need to apply a high degree of uncertainty to our expectations, predominantly to the upside,” the WGC said.

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