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Invictus identifies 13 potential hydrocarbon-bearing zones

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Australian Stock Exchange-listed oil and gas exploration junior Invictus Energy‘s shares have risen significantly after the company identified 13 hydrocarbon-bearing zones at the Mukuyu-1 prospecting well in Muzarabani.

Rudairo Mapuranga

After successfully concluding the Mukuyu-1 and ST1 drill campaign, the company’s shares gained over 6 per cent in the early hours of 23 January.

According to Invictus Managing Director Scott McMillan, the Mukuyu-1 drill campaign has been successful and the results outstanding.

“The Mukuyu-1 and ST1 drill campaign has been a great success, identifying 13 potential hydrocarbon bearing zones across the Pebbly Arkose and Upper Angwa formations.

“Significantly, a combined 225 metres of gross potential hydrocarbon bearing zones have been identified in the primary target Upper Angwa, which still contains deeper untested potential.

“This is an outstanding result and virtually unprecedented for the first well in a frontier basin, establishing a new petroleum province and substantially de-risking the Company’s wider acreage in the Cabora Bassa Basin.

“We are still interpreting all the data, with results to be integrated into the seismic data and basin models to guide future well locations and exploration prospect selection,” McMillan said.

Minister Chitando to attend Mining Indaba 2023

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Minister Chitando to attend Mining Indaba 2023

Mines and Mining Development Minister Hon Winston Chitando this year will be attending and is expected to address the industry and provide updates on new policies and plans for the future at the world’s largest gathering of the most influential stakeholders in the African mining industry, the Mining Indaba.

Minister Chitando this year attends the Mining Indaba event as the country is making global headlines for new lithium discoveries and the country taking a firm stance on value-addition.

Unmatched by any other mining event in Africa, Mining Indaba continues to host the largest gathering of Ministers High Commissioners, and Ambassadors and senior government officials from across Africa and beyond.

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.

Mining Indaba has been a staple in Cape Town’s and the industry’s calendar. Over 6,500 mining experts descend on the city every February for five powerful days of networking. The conference makes a significant impact on the regional and wider economy of South Africa. As well as contributing R156m to South African GDP (of which 73% was from international sources), it generated 214 full-time annual job equivalents in the country and contributed R19m to national taxes.

You can book to attend Mining Indaba HERE

The US releases Signed MOU with the DRC & Zambia to strengthen EV battery value chain

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The US releases Signed MOU with the DRC & Zambia to strengthen EV battery value chain

The US Department of State released the signed Memorandum of Understanding (MOU) on electric vehicle battery value chains signed by the United States on December 13, 2022, during the Africa Leaders Summit.

Through this MOU, the United States will support the commitment between the Democratic Republic of Congo (DRC) and Zambia to develop jointly a supply chain for electric vehicle batteries.  The MOU supports the DRC and Zambia’s goal of building a productive supply chain, from the mine to the assembly line, while also committing to respect international standards to prevent, detect, and take legal action to fight corruption throughout this process.

The DRC produces more than 70 per cent of the world’s cobalt.  Zambia is the world’s sixth-largest copper producer and the second-largest cobalt producer in Africa.  These resources, and this commitment to cooperation, are crucial components of the urgently needed global energy transition.  The plan to develop an electric battery supply chain opens the door for open and transparent investment to build value-added and sustainable industry in Africa and creating a just energy transition for workers and local communities.  The U.S. private sector is a tremendous resource, both for technical knowledge and financing, for commercial development at every step in the process.  The U.S. government will work with the DRC and Zambia to ensure the private sector has a level playing field to participate in these projects.

See the MOUs HERE 

Stakeholders optimistic of Zim KP Chairmanship

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Stakeholders optimistic of Zim KP Chairmanship

Stakeholders in the diamond sector have expressed optimism about the country assuming chairmanship of the Kimberly Process (KP) stating that the assumption of the chairmanship will help in demystifying the mischievous agenda of trying to red flag the country’s diamonds.

Rudairo Mapuranga

The takeover of the KP Chairmanship will see the country leading the scheme in 2023. Zimbabwe has already promised to leave a lasting legacy and a positive impact on the KP.

As chair, Zimbabwe will oversee the implementation of the Kimberly Process Certification Scheme (KPCS) and operations of the working groups, committees and administration that activate the KP. The Republic of Zimbabwe will be deputized by the United Arab Emirates who will be the KP Vice Chair for 2023.

The year 2023 is the KP reform year where a host of changes are expected including conflict diamonds definition, implementation of tripartite arrangements in participating countries and strengthening of best practices for Artisanal and Small scale mining in diamond-producing regions among others.

Speaking to Mining Zimbabwe renowned Diamond Buying Consultant Cute Machekeche said the assumption of the chairmanship of the KP will have a positive effect on all stakeholders, and the country will significantly benefit from its God-given resource.

“The assumption of the chairmanship of the Kimberly process will impact positively on all stakeholders. Firstly it will demystify the mischievous agenda of categorizing our stones as blood diamonds. The direct impact of this will be increased competition leading to the realisation of market values on trades. The market value will stimulate the following benefits inter-alia;

“i. Increased production by miners leading to better economic performance and drive toward the target of 12 billion by 2030.

“ii. Increased foreign currency inflows will resultantly oil other sectors of the economy as well as enhance the country’s balance of trade.

“iii. Increased economic activity leading to increased inflows by way of taxes and royalties. This will augment the Second Republic’s extensive national development agenda and drive towards turning Zimbabwe into a middle-income economy by 2030.

“iv. Increased potential investments and tourists as more diamond buyers will have a clearer view of the jewel that Zimbabwe is,” he said.

Former Minerals Marketing Corporation of Zimbabwe (MMCZ) Mineral Evaluator, Eng. Clever Sithole said assuming the KP Chairmanship allows the country to set the tone and agenda in the implementation of the Kimberly Process Certification Scheme (KPCS), and operations of the working groups, committed and administration. The country will also institute a plan of action around issues of accountability, sustainable resource extraction, trade and environmental protection.

“The country will also develop policies that will attract investments that promote critical value chains in value addition and beneficiation of rough diamond,” Machekeche said.

The Minister of Mines and Mining Development Hon Winston Chitando said Zimbabwe was committed to leaving a lasting legacy as well as a positive impact on the KP and will diligently work closely with the Working Groups and Committees to deliver its mandate as the chair.

He said for the country to achieve its mandate as the chair, it will work closely with KP members.

“On behalf of the Republic of Zimbabwe, we are honoured to accept the KP Chairmanship (2023).

“We will diligently work closely with the Working Groups and Committees to deliver on, among others, the following areas;

  1. KP Review Cycle: so that we build the KP we want as the KP Family. As agreed we will focus on identified reform areas that include definition, technical assistance, community involvement and strengthening KP governance, to be spearheaded by the Ad Hoc Committee on Review and Reform
  2. Peer Review system: so that we enhance compliance
  • Implementation of the tripartite arrangement in all Participating countries: so as to ensure best practices as diamonds are for the people
  1. Strengthening of best practices for Artisanal and Small Scale Mining in diamond-producing regions, such as the Mano River Union among others
  2. Digitalization of KP certificates among other initiatives

“These will be achieved through seeking consensus amongst participants and observers as well as continuous consultation with Chairs of Working Groups and Committees.

“The KP Review Cycle is starting in 2023. This is a critical stage for repositioning the KP to remain relevant in the global rough diamond trade. We can assure you that the Republic of Zimbabwe as the KP Chair, will aim for a successful start to the Review Cycle. We will seek to achieve consensus in reaching all decisions as per KP rules.

“It is our commitment to leave a positive impact on the KP as well as a lasting legacy, ” Hon Chitando said.

ZMF cautions members on bogus organisations soliciting for money

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ZMF cautions members on bogus organisations soliciting for money

The Zimbabwe Miners Federation (ZMF) has cautioned its members from falling victim to mushrooming “Miners for ED” organisations soliciting funds across the country.

In a statement the ZMF Chief Executive Officer (CEO) Mr Wellington Takavarasha said the groups target unsuspecting ZMF members and other entities.

“It has come to the attention of the Zimbabwe Miners Federation (ZMF) that there are Miners for ED organizations that have mushroomed and are soliciting monies from unsuspecting ZMF members, ZANU PF groups, and other government entities,” the statement read in part.

ZMF said its only affiliate is the Zimbabwe Miners for ED Private Limited Organization registered on the 20th of June 2022 and its directors are all the current ZMF Provincial Youth Chairpersons.

“This affiliate disclaimer details the ZMF and its relationship with its member associations. Notice is hereby given that ZMF distances itself from the proliferation of the so-called organizations. Kindly note that ZMF has one Affiliate Zimbabwe Miners for ED Private Limited Organization registered in terms of the companies Act of Zimbabwe whose directors are all the current ZMF Provincial Youth Chairpersons. The Company was registered on the 20th of June 2022,” Takavarasha said in a statement.

Mining Indaba 2023 introduces the explorer’s showcase to drive investment into african mining

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Mining Indaba 2023 introduces the explorer’s showcase to drive investment into african mining

Mining and minerals exploration has been touted as the key to unlocking post-pandemic recoveries across Africa. To encourage greater interest in exploration, and the role of junior miners in the mining value chain, Mining Indaba is introducing the Explorer’s Showcase in 2023.

This brand-new initiative will spotlight exploration and early development companies with assets across Africa. It offers exploration companies with a market capitalisation of no more than US$25 million and projects located in Africa an opportunity to present their plans to investors and top financiers attending the event.

“We are delighted to launch the Explorers Showcase this year, which is set up to support early-stage mining companies with their investment drive and development. It is the first time we are profiling explorers at Mining Indaba in such a prominent way which we believe is critical to ensuring sustainable investment is flowing into every stage of the mining cycle,” says Investing in African Mining Indaba Portfolio Director Simon Ford.

The initiative is sponsored by BHP Xplor and supported by South Africa’s Department of Mineral Resources and Energy, and Afrimine. It aims to drive investor interest in Africa’s vast mineral resource wealth and metals, which are critical to the global transition to green energy.

Data released by S&P Global in October 2022 showed that the post-pandemic recovery that was felt through 2021 and into 2022 encouraged further investment in exploration and the global exploration budget increased again last year, driven mostly by strong metal process and easier access to financing.

S&P Global estimates that the global nonferrous exploration budget increased 16% to US$13 billion in 2022 and that exploration budgets targeted at Africa continued to grow, allowing Africa to maintain its 10% of the global budget.

Last year, South African Mineral Resources and Energy Minister Gwede Mantashe set a target for South Africa to grow its share of global exploration investment from less than 1% currently to 5% within the next 5 years. This aspiration is supported by an exploration strategy that also strives to position South Africa as a key supplier of clean technology metals and minerals.

Ford says to compliment the Explorers Showcase, Mining Indaba has a new dedicated area for junior mining companies, which will participate under the Junior MINE banner, and it plans to run the Junior ESG Forum again in 2023.

“Applications for the Explorers Showcase have closed and we are very encouraged that this exciting new initiative for Mining Indaba 2023 has sold out”, says Ford

Participating companies include:

  • Steenkampskraal
  • Carly Prints (Pty) Ltd
  • Mississauga Mining & Exploration Cameroon (MMEC)
  • Aterian Plc
  • Deep-South Resources Inc.
  • Akobo Minerals
  • Cazaly Resources Ltd
  • Poplar Creek Resources
  • Andiamo Exploration Limited
  • Noronex Limited
  • Ura Holding
  • Ntuthuko Resources Pty
  • Sylla Gold
  • Alma Gold Inc.
  • Zamare Minerals
  • Lethabo Exploration
  • M-Resources
  • Myriad Uranium Corp
  • Teija Resources SA
  • Sanu Gold Corp.
  • SI Mining SA
  • Mirex
  • RexMetal
  • Aracari Resources
  • Daleor
  • Xantus Niger Exploration

Zephyr Minerals Grants Stock Options

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Zephyr Minerals Grants Stock Options

Zephyr Minerals Ltd. (TSXV: ZFR) has granted 1,200,000 stock options to consultants and directors and officers of the Company.

The stock options are exercisable at a price of $0.11 per share for a term of five years expiring January 17, 2028. The options are granted in accordance with the Company’s incentive stock option plan and as set forth by the TSX Venture Exchange (“TSX-V”) policy and are subject to the approval of the TSX-V.

About Zephyr Minerals Ltd.

Zephyr Minerals Ltd. is active in mineral exploration in Colorado, the USA and Zimbabwe. In Colorado Zephyr has been focused on mine permitting activities at its 100% owned Dawson gold property, which is presently in hiatus pending the collection and submission of additional water well data and satisfying certain other environmental related questions. The additional required water wells are still in the planning stage and will be drilled once available funds are in hand. Upon collection of the additional data, the Company plans to reapply for a mining permit at Dawson.

In Zimbabwe the Company is working to build a mineral property portfolio and to this end has applied for two Exclusive Prospecting Orders covering 124,000 hectares. Zephyr is actively assessing additional mineral opportunities in Zimbabwe on an ongoing basis. Zimbabwe boasts favourable foreign ownership rules for mineral properties as well as prospective, underexplored Archean greenstone belts.

Gold buying prices Wednesday 18 January 2023

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Gold buying prices Wednesday 18 January 2023

Fidelity Gold Refinery (FGR) official gold buying prices Wednesday 18 January 2023.

SG 90% AND ABOVE US$58.45/g
SG ABOVE 85% BUT BELOW 90% US$57.53/g
SG ABOVE 80% BUT BELOW 85% US$56.91/g
SG ABOVE 75% BUT BELOW 80% US$56.29/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.37/g
FIRE ASSAY CASH US$58.45/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.

Leading the global charge towards gender equality in the African mining industry

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Leading the global charge towards gender equality in the African mining industry

Top women in the mining industry will be at the forefront of the speaker list and discussions at the upcoming Investing in African Mining Indaba. The 2023 programme will see an exciting line-up of over 50 female speakers from around the world, including the President of Ivanhoe Mines and one of the 100 Global Inspirational Women in Mining, Marna Cloete and Zambia National Commercial Bank (Zanaco) Chief Executive Officer, Mukwandi Chibesakunda.

Portfolio Director, Investing in African Mining Indaba, Simon Ford says: “Mining Indaba is dedicated to driving gender diversity through its event. Having over 7,000 delegates – including leading mining companies, investors and governments – in one place is an opportunity to encourage organisations to take the necessary steps to make gender diversity in the mining industry a reality.”

Attendees will hear from global mining female leadership including Minister of Mines in the Democratic Republic of Congo, Antoinette N’samba Kalambayi; Anglo American Platinum CEO, Natascha Viljoen; Anglo American South Africa Chairperson, Nolitha Fakude; Rio Tinto Chief Executive for Minerals, Sinead Kaufman and Country Director for World Bank Southern Africa, Marie Francoise Marie-Nelly.

To provide organisations with meaningful action on how they can be truly diverse and inclusive, the International Council on Mining & Metals (ICMM) will convene a Leaders Panel themed ‘Walking the Walk on Diversity, Equity and Inclusion’ (DEI). The panel will draw from the experiences of the ICMM members by discussing the actions on DEI in their own organisations, the steps being taken across the wider industry and what future action is needed.

Investing in African Mining Indaba will also host a special focus panel in partnership with International Women in Mining (IWiM) on how women are inspiring the next generation of talent through their ever-increasing impact on the mining industry. IWiM is a leading not-for-profit global organisation pursuing gender equality, the promotion of women’s voices, access to opportunities and leadership in mining. The panel will be moderated by IWiM UK Managing Director Dr Stacy Hope and include World Bank Senior Mining Specialist, Rachel Perks and Standard Bank Mining and Commodities Analyst, Thabang Thlaku.

Hyve Group’s partnership with IWiM in promoting the advancement of women in the mining industry goes beyond Investing in African Mining Indaba. Initiatives include supporting professional development hosting educational networking events for Indaba members, working with universities and other organisations to raise awareness of mining as a career choice for women and celebrating women’s success stories with the “100 Global Inspirational Women in Mining” publications.

Machete gang kills artisanal miner in Kadoma

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Machete gang kills artisanal miner in Kadoma

While the Police have been working flat out to ensure that the proliferation of machete-wielding criminals who are known for targeting and robbing artisanal and small-scale miners are flashed out, a Kadoma miner has fallen victim to a machete gang who allegedly killed him on Monday.

According to sources from the mining community, the miner only identified as Kilo was allegedly killed at Dhiva Mine Compound, Etina, Eiffel Flats in Kadoma on Monday after he was attacked by a machete gang who wanted to rob him and his colleagues of the ore they had mined.

However, the police have identified Kilo as a member of a machete gang belonging to a group led by one Cleopas Jaison and investigations are currently underway to discover the course of death.

“Police in Kadoma are investigating a case of murder which occurred on 16/01/23 at Dhiva Mine Compound, Etina, Eiffel Flats.

“The victim, only identified as Kilo, died after he was attacked with machetes catapults, knives and chisels during a clash between a group identified as “Magaya and another group allegedly led by Cleopas Jaison.

“The victim allegedly belonged to Cleopas Jaison’s group. The Police have so far arrested Cleopas Magaya (32),” the police said.

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