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BREAKING: Ionosphere begins lithium concentrates production

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BREAKING: Ionosphere begins lithium concentrates production

Ionosphere investments has begun lithium concentrates production at its Factory in Harare Bluffhill, Managing Director Mr Nyasha Chidoh has announced.

Priscah Chisara

The company aims to have a product ready for shipping by February 2023 and its targeted annual output is 36,000 tonnes of lithium concentrates.

Nyasha Chidoh Mirrorplex
Mr Nyasha Chidoh

Chidoh revealed plans to almost double Ionosphere’s targeted annual output to about 70 000 tonnes of lithium concentrates and this would place the company among the country’s top four producers.

“We see all the demand is there — significantly unmet demand — for battery-grade lithium in the next three years”

“Whoever is producing lithium in the coming three years is going to make abnormally high margins,” Chido said.

Lithium prices have risen tenfold to $75,000 a tonne since the beginning of 2021. A tight market has sparked a rush by carmakers to secure supplies of a commodity that, along with cobalt and nickel, is vital for electric vehicles.

Chido revealed that Ionosphere is one of the new battery metals companies to do value addition and it supported the move by the government to outlaw raw Lithium exports.

“Ionosphere investments is uniquely positioned as one of really only new battery metals companies to do value addition and is in support of the government’s decision to ban the export of raw lithium

About Ionosphere Investments

Ionosphere Investments is a leader in trading metals and minerals sourced from Zimbabwe. Built on detailed market intelligence, Ionosphere aims to grow consistently with the same integrity that laid its foundation.

The company intends to be a specific integrated mining and trading company with its core business built around Tin, Tantalum, Lithium and Beryl. It employs a 3-stage approach to the core strategy to make the business a long-term and sustainable supplier of Tantalite, Tin and Lithium Africa-specific minerals to the market.

To learn more about Ionosphere visit www.lonosphere.co.zw 

Karo lists on the Victoria Falls Stock Exchange (VFEX)

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Karo lists on the Victoria Falls Stock Exchange (VFEX)

Karo Mining Holdings has listed its bond on the Victoria Falls Stock Exchange (VFEX).

It is the first debt instrument in the country, although the parent company, Tharisa PLC, is listed on the London and Johannesburg exchanges.

Karo Mining has issued a US$50 million three-year bond with an annual coupon rate of 9.5 per cent which is paid semi-annually.

Bartholomew Mswaka, VFEX vice chairperson, said the bond listing becomes the first instrument that has raised fresh money for portfolio investments since 2015.

He said the VFEX believes the bond listing will go a long way in reducing risk on investor portfolios.

“The listing of a bond by Karo Mining Holdings gives us great confidence as an exchange and we are grateful to the Karo management and shareholders for having confidence in our market,” Mswaka said.

“We are very much excited to welcome the very first debt instrument on our bourse since its inception in October 2020, making Karo Mining Holdings the seventh issuer on our exchange,” he added.

“The Zimbabwean bond market has not been active and the listing of Karo will revive the fixed income market and contribute towards development and deepening of capital markets.”

Clemence Chiduwa, Finance and Economic Development Deputy Minister presided over the listing ceremony and ringing of the bell in Victoria Falls.

“Government is particularly excited to see the listing of the first fixed income bond onto the VFEX and indeed the largest capital raise to date onto the VFEX at $32 million,” he said.

Karo is the latest issuer on VFEX after Bindura Nickel, Caledonia Mining, Nedbank Zimbabwe, Padenga, SeedCo International and Simbisa Brands.

VFEX was established in as a pioneer offshore financial services centre. It is denominated in United States dollars.

Zimbabwe Miners Federation (ZMF) applauds Govt Lithium ban

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Zimbabwe Miners Federation (ZMF) applauds Govt Lithium ban

The Zimbabwe Miners Federation (ZMF) has supported the government’s decision to ban the export of raw lithium citing that the export of the ore has been prejudicing the government through loss of revenue which is detrimental to the country’s target of attaining the US$12 billion Mining industry by end of 2023.

Rudairo Mapuranga

The Zimbabwe Miners Federation (ZMF) through its President Ms Henrietta Rushwaya says that the export of raw lithium gave rise to leakages and serious job exports in the lithium subsector with other countries benefiting from jobs that could have been of native Zimbabweans.

The ZMF said the ban on raw lithium export would lead to job creation and transfer of skills to local experts thereby creating a green energy future for Zimbabwe.

“The ban is important because there have been a lot of leakages, loss of revenue on the government’s part, and not realizing the true value of the resource, which has a negative effect on the attainment us$12 billion mining industry by 2023.

“The ban will also lead to the participation of serious players in the beneficiation process, job creation for local indigenous Zimbabweans and skills transfer to locals by experts.

“The benefits derived in lithium processing are but not limited to: throughput gain, process stability, energy consumption reduction, and increased yield. We applaud the Government initiative to come up with the SI,” Rushwaya said.

The Minister of Mines and Mining Development Hon Winston Chitando through section 3 (1) (a) of the base Minerals Export Control Act with immediate effect gazetted an SI that states that no lithium-bearing ores, or un-beneficiated lithium whatsoever, shall be exported from Zimbabwe to another country except under written permission of the Minister.

Below is the Statutory Instrument (SI) in full:-

“UNDER the powers conferred upon me by section 3(1)(a) of the Base Minerals Export Control Act [Chapter 21:05], I, Winston Chitando, MP, Minister of Mines and Mining Development, by this my order direct that with immediate effect as follows:—

  1. This order may be cited as the Base Minerals Export Control (Unbeneficiated Lithium Bearing Ores) Order, 2022.
  2. In this order— “lithium-bearing ore” means any mineral ore containing lithium; “unbeneficiated lithium means any lithium in whatever form that has not undergone processing to an extent that would exempt it from the payment of export tax under section 12B (“Collection of tax on exportation of unbeneficiated lithium; determination of value thereof”) of the Value Added Tax Act [Chapter 23:12];
  3. (1) No lithium bearing ores, or unbeneficiated lithium whatsoever, shall be exported from Zimbabwe to another country except under written permit of the Minister given under subsection (2).

(2) On written application by any party—

(a) wishing to export samples of lithium-bearing ore or unbeneficiated lithium for assaying outside Zimbabwe;

or

“(b) to a miner or exporter of lithium upon production of written proof satisfactory to the Minister that there are exceptional circumstances justifying the exportation in question and that the lithium-bearing ores or un-beneficiated lithium in question have been valued in terms of section 12D (3) of the Value Added Tax Act [Chapter 23:12] for purposes of payment of the export tax on un-beneficiated lithium, that is to say—the market value thereof on the date of exportation has been determined by reference to a reputable metals exchange; or

“(ii) its value is reflected on any document required to be delivered in terms of the Customs and Excise Act [Chapter 23:02] for its exportation under that Act.

” 4. To avoid doubt—

(a) section 5 of the principal Act provides that “An order shall have effect notwithstanding anything inconsistent therewith in any other enactment or any trade or customs agreement to which the State is a party.”; and

“(b) section 6 of the principal Act provides that any person who contravenes or fails to comply with any order or with the terms and conditions of any permit issued to him or her under an order shall be guilty of an offence and liable to—

“(i) a fine not exceeding level 9 or twice the value of the base minerals in respect of which the offence is committed, whichever is the greater; or

(ii) imprisonment for a period not exceeding two years; or to both such fine and such imprisonment,” the SI read.

BREAKING: Zimbabwe lithium ban now in force

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BREAKING: Zimbabwe lithium ban now in force

Zimbabwe has banned the export of raw lithium to enable value addition and beneficiation in an effort to see the country benefit from the clean energy revolution.

Rudairo Mapuranga

The country has been losing millions of dollars from raw lithium exports with President Emmerson Mnangagwa expressing discontent with the way the lithium clandestinely left the country. This has led the government through the Minister of Mines and Mining Development Hon Winston Chitando to ban the export of lithium through section

3 (1) (a) of Base Minerals Export Control Act [Chapter 21:05] in an effort to ensure that the vision of the President to see the country becoming an upper-middle income economy has been realized.

“UNDER the powers conferred upon me by section 3(1)(a) of the Base Minerals Export Control Act [Chapter 21:05], I, Winston Chitando, MP, Minister of Mines and Mining Development, by this my order direct that with immediate effect as follows:—

  1. This order may be cited as the Base Minerals Export Control (Unbeneficiated Lithium Bearing Ores) Order, 2022.
  2. In this order— “lithium-bearing ore” means any mineral ore containing lithium; “unbeneficiated lithium means any lithium in whatever form that has not undergone processing to an extent that would exempt it from the payment of export tax under section 12B (“Collection of tax on exportation of unbeneficiated lithium; determination of value thereof”) of the Value Added Tax Act [Chapter 23:12];
  1. (1) No lithium-bearing ores, or unbeneficiated lithium whatsoever, shall be exported from Zimbabwe to another country except under the written permit of the Minister given under subsection (2).

(2) On written application by any party—

(a) wishing to export samples of lithium-bearing ore or unbeneficiated lithium for assaying outside Zimbabwe;

or

“(b) to a miner or exporter of lithium upon production of written proof satisfactory to the Minister that there are exceptional circumstances justifying the exportation in question and that the lithium bearing ores or unbeneficiated lithium in question have been valued in terms of section 12D(3) of the Value Added Tax Act

[Chapter 23:12] for purposes of payment of the export tax on unbeneficiated lithium, that is to say—the market value thereof on the date of exportation has been determined by reference to a reputable metals exchange; or

“(ii) its value is reflected on any document required to be delivered in terms of the Customs and Excise Act [Chapter 23:02] for its exportation under that Act.

” 4. To avoid doubt—

(a) section 5 of the principal Act provides that “An order shall have effect notwithstanding anything inconsistent therewith in any other enactment or any trade or customs agreement to which the State is a party.”; and

“(b) section 6 of the principal Act provides that any person who contravenes or fails to comply with any order or with the terms and conditions of any permit issued to him or her under an order shall be guilty of an offence and liable to—

“(i) a fine not exceeding level 9 or twice the value of the base minerals in respect of which the offence is committed, whichever is the greater; or

(ii) imprisonment for a period not exceeding two years; or to both such fine and such imprisonment,” The Mines Minister said.

Dooms day for raw lithium export ban announced

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Dooms day for raw lithium export ban announced

The ban on the export of raw lithium is expected to be enshrined into the country’s laws this weekend President Emmerson Mnangagwa has announced.

In his address at a rally in Buhera north yesterday, the first citizen said it was shameful that people were invading areas with lithium, selling the resource at little amounts ranging from US$ 100/tonne yet when the lithium is processed reaches up to US$ 7000/tonne and smuggling the battery-making mineral.

“People are selling lithium for paltry amounts, yet when it is processed it reaches up to us$7000. Now we hear there are truckloads crossing the borders (South Africa). We had no law to prohibit this from happening. For those who were doing it, days are numbered because this very weekend we will gazette a law that will prohibit lithium ore from leaving the country. If you are caught doing so you will be jailed for a long long time.

This was not the first time Mnangagwa had mentioned his disdain for the way lithium clandestinely left Zimbabwe.

At the official commissioning of the US$67 million new Central Shaft Expansion Project at Blanket Mine in Gwanda last month President Mnangagwa said if the country was to achieve its vision of becoming an upper middle-income economy by 2030, greater effort was supposed to be made to ensure that the export of raw minerals and concentrates is been banned.

“In line with Vision 2030, greater efforts should be made towards value addition and beneficiation of minerals. We cannot as a country continue to export primary products including concentrates and ores. Recently in Mberengwa, we discovered that there was a mountain with nothing but lithium and our people were collecting this lithium ore and being paid something like US$100 when that same quantity will fetch more than a thousand to US$2000 and then exporting it unprocessed, so Zimbabwe loses. Within a few days I’m gazetting a law prohibiting what has been happening in Mberengwa,” Mnangagwa said at the time.

He also mentioned that he was aware that some of his colleagues were involved in the illegal trading and smuggling of the commodity.

Zimbabwe has the largest lithium reserves in Africa and the fifth-largest deposits worldwide. It has the highest number of Lithium projects under exploration on the continent and currently has several mines in the exploration and production phase. These are Bikita Minerals, Arcadia lithium mine, Sabi Star Lithium Mine, MIRRORPLEX Lithium project, Zulu Lithium and Tantalum Project, Step Aside Lithium project, and Kamativi Lithium project.

Plans to produce battery-grade lithium in Zim underway

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Plans to produce battery-grade lithium in Zim underway

The government’s call for lithium mining companies to produce battery-grade lithium is currently underway with Sabi Star Mine owners Max Mind Investment and partners already in preparation to construct an industrial Park which will host lithium battery manufacturing plants.

By Sophia Takuva

Sabi Star Mine which is expected to produce 1 million tonnes of raw ore is currently constructing processing infrastructure. The recovery of the lithium will be via the floatation process which will include gravity separation circuits to also recover tantalite. At full operational capacity, the 1 million tonnes of ore will translate to 300 000 tonnes of lithium concentrate and 300 tonnes of tantalite-niobium per year.

The construction of the processing infrastructure will be in the region of US$130 million.

Speaking at the groundbreaking ceremony of Sabi Star Mine and Lithium Concentrator Complex in Buhera yesterday Max Mind Project Manager Elfas Mugova said Sabi Star Mine will initially export lithium concentrates to China.

“The current production from Sabi Star will be exported as lithium concentrate to China. However, let me hasten to assure you and the people of Zimbabwe, that Max Mind has heeded the call for beneficiation of all mineral resources mined in Zimbabwe. Max Mind and their business partners have, therefore, begun preparatory work for the construction of an Industrial Park which will host lithium battery manufacturing plants among a host of other energy infrastructures.

“Max Mind has also set aside a fund for further exploration around Sabi Star which will enable the definition of more resources to ensure the continued operation and expansion of the mine and the Industrial Park,” Mugova said.

Speaking at the same event the Minister of Mines and Mining Development Hon Winston Chitando commended Sabi star mine for working in line with the government’s vision to see lithium value addition and beneficiation.

“The Sabi star mine at peak will produce 300 thousand tonnes of concentrates per annum. From a government thrust, 300 thousand tonnes will be value added to lithium carbonate at the mines to energy park. The impact is quite a phenomenon in terms of the local community and from the US$12 billion perspective. This project did not just happen but is a result of the open for business mantra and the 2030 vision,” Hon Chitando said.

President Emmerson Dambudzo Mnangagwa said the project by Max Mind and its partners to create a Mines to Industry Park will go a long way in ensuring and cementing Government vision 2030.

‘It is pleasing that Max Mine Private Limited plans to set up a unique battery-grade lithium plant in Mapinga this mining project will therefore directly feed into the mines to the energy park in Mapinga.

“This plant here in Buhera in two years will be earning around US$2 billion. The Sabi star mine lithium project is expected to generate employment opportunities for 400 employees gradually increasing to 900 people. Local beneficiation in the mining sector is now of paramount, local communities should benefit from their resources,” HE Mnangagwa said.

Gold buying prices Tuesday 13 December 2022

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Gold buying prices Tuesday 13 December 2022

Fidelity Gold Refinery (FGR) official gold buying prices Tuesday 13 December 2022.

SG 90% AND ABOVE US$54.56/g
SG ABOVE 85% BUT BELOW 90% US$53.70/g
SG ABOVE 80% BUT BELOW 85% US$53.13/g
SG ABOVE 75% BUT BELOW 80% US$52.55/g
SAMPLE BELOW 10g BUT ABOVE 5g US$51.69/g
FIRE ASSAY CASH US$54.56/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.

Chitando commends Pickstone’s underground mine development

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Chitando commends Pickstone’s underground mine development

Mines and Mining Development Minister Hon Winston Chitando has commended the development of the underground mine at Dallaglio Investments-owned Pickstone Peerless as the project will be key towards the attainment of a US$4 billion gold industry by 2023.

Rudairo Mapuranga

Speaking to Mining Zimbabwe on the sidelines of a technical visit to Pickstone Peerless mine in Chegutu on Monday the Minister commended Dallaglio Investments for its Investment capacity to ensure the mine develops an underground mine to exploit higher grades.

“One of the things which make this visit interesting is its investment capacity. The mine is developing an underground mine operation to exploit higher grades, they are also doing some minor changes to their plant and are also planning to do heap leaching operations. That alone makes this project a comfort of sustainable production. Pickstone is a source of sustainable production that the government is looking at. The mine is key, contributing to employment with Investments in Chegutu. We are very pleased that they are contributing to his Excellency’s 2030 vision which is more employment, higher income and nyika inovakwa nevene vayo,” Minister Chitando said.

According to Pickstone Peerless mine, General Manager Alfred Madowe Dallaglio has invested US$18 million on the development of Pickstone Peerless underground mining which will see the mine mining a higher grade from the current open pit’s 1.8 grams per tonne to an average of 4 grams per tonne. The increase in grades will double production capacity from an average of 500 kgs per annum to 1000 kgs per annum by 2025.

Pickstone Peerless mine on average produces 50 kgs of gold per month and will grow to an average of 80 kgs per month after underground commissioning in 2023.

Underground mining at Pickstone according to Madowe will be commissioned in April 2023 and the mine will increase production to 800 kgs per annum thereby contributing significantly towards the achievement of the US$12 billion mining industry.

“Extensive shaft and surface restructure is being undertaken to reopen the existing underground mine at Pickstone Peerless mine.

“Indicative underground grades are ranging between 3 to 5 grams per tonne while the open pit grades are standing at an average of 1.8 grams per tonne. This will be a gradual improvement in grades.

“Pickstone underground project will contribute significantly to increase revenue and foreign currency inflow in the economy and contribute towards the attainment of the US$12 billion mining industry by 2023. This is in line with His Excellency Dr Emmerson Dambudzo Mnangagwa’s vision 2030 towards a prosperous upper middle-income nation by 2030,” Madowe said.

In 2015, Dallaglio refurbished Pickstone Peerless mine and brought it back to life. This gold mine had not been operational for 44 years. The process plant was designed and built in-house, a testament to the skills and experience we have in our people. After the success in bringing Pickstone Peerless back to life the company embarked on an even more challenging refurbishment of the Eureka Mine located near Guruve. Once operational Eureka will be one of the largest and most technologically advanced mines in Zimbabwe.

Pickstone Peerless plans to double production

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Pickstone Peerless plans to double production

Dallaglio-owned Pickstone Peerless mine is on a massive mine development drive to double its production capacity as it is geared to contribute significantly towards the attainment of the US$4 billion gold industry.

Rudairo Mapuranga

According to Pickstone Peerless General Manager Alfred Madowe, Dallaglio has invested US$18 million on the development of Pickstone Peerless underground mining which will see the gold miner mining a higher grade from the current open pit’s 1.8 grams per tonne to an average of 4 grams per tonne. The increase in grades will double production capacity from an average of 500 kgs per annum to 1000 kgs per annum by 2025.

Pickstone Peerless mine on average produces 50 kgs of gold per month and the expansion will see the mine grow to an average of 80 kgs per month after underground commissioning in 2023.

Underground mining at Pickstone according to Madowe will be commissioned in April 2023 and the mine will increase production to 800 kgs per annum.

“Extensive shaft and surface restructure is being undertaken to reopen the existing underground mine at Pickstone Peerless mine.

“Indicative underground grades are ranging between 3 to 5 grams per tonne while the open pit grades are standing at an average of 1.8 grams per tonne. This will be a gradual improvement in grades.

“Pickstone underground project will contribute significantly to increase revenue and foreign currency inflow in the economy and contribute towards the attainment of a US$12 billion mining industry by 2023. This is in line with His Excellency Dr Emmerson Dambudzo Mnangagwa’s vision 2030 towards a prosperous upper middle-income nation by 2030,” Madowe said.

Gold buying prices Monday 12 December 2022

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Gold buying prices Monday 12 December 2022

Fidelity Gold Refinery (FGR) official gold buying prices Monday 12 December 2022.

SG 90% AND ABOVE US$54.86/g
SG ABOVE 85% BUT BELOW 90% US$53.99/g
SG ABOVE 80% BUT BELOW 85% US$53.41/g
SG ABOVE 75% BUT BELOW 80% US$52.83/g
SAMPLE BELOW 10g BUT ABOVE 5g US$51.97/g
FIRE ASSAY CASH US$54.86/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.

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