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Zimbabwe gold buying prices 13 September 2023

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Fidelity Gold Refinery (FGR) official gold buying prices. See the Zimbabwe gold buying prices today 13 September 2023.

SG 90% AND ABOVE US$57.98/g
SG ABOVE 85% BUT BELOW 90% US$57.37/g
SG ABOVE 80% BUT BELOW 85% US$56.75/g
SG ABOVE 75% BUT BELOW 80% US$56.14/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.22/g
FIRE ASSAY CASH US$58.29/g

NB: Fire Assay cash price is for gold above 100gs, no sample is deducted.
For the Fire Assay Transfer price, a sample of not more than 10g is deducted
A 2% royalty is charged on all deposits (small-scale miners)
A 5% royalty is set for Primary Producers

Cash available. Fidelity Gold Refinery prices will be changing daily to match world market prices.

Zimbabwe yet to announce Deputy Minister of Mines

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After the publishing of new Cabinet Ministers and their Deputies, the Ministry of Mines and Mining Development is yet to have a Deputy Minister appointed.

Ministers and their deputies were announced and their names and Ministries were published on the Parliament of Zimbabwe website. On the parliament website, there is no mention of the Ministry of Mines and Mining Development deputy Minister. The permanent secretary of the Information, Publicity and Broadcasting Services Ministry, Nick Mangwana also shared the Deputy Ministers list which the Ministry of Mines does not appear.

Currently, only Soda Zhemu is listed under the Ministry of Mines and Mining Development as Minister.

Former Minister Hon Winston Chitando was moved to the Ministry of Local Government and Public Works. Chitando during his time at the Mines Ministry, was deputised by Hon Polite Kambamura.

It is not clear if Kambamura will retain his previous position as Deputy Minister.

Meanwhile, the Association of Mine Surveyors of Zimbabwe (AMSZ) will be holding its AGM and Conference. The AGM and Conference will be running under the theme, “Strengthening the Mining Innovation Ecosystem through Investment, Technology, Skills, and Collaboration” which will run from the 11th to 14th of October 2023.

According to AMSZ President Gabriel Mwale, there will be six key issues that will be discussed at the event which include among others government mine Surveyor’s certificate of competency, lobbying for increased technology in Mine Survey Offices nationwide and plenary discussions.

AMSZ AGM and Conference 2023, Key Issues:

  1. The Mining Bill and the Role of Surveyors therein.
  2. Lobbying for increased technological investments in Mine Survey Offices nationwide, to enhance accuracy, efficiency and safety.
  3. Promoting the latest and cutting-edge global best practices and procedures.
  4. The Government Mine Surveyor’s Certificate of Competency.
  5. National Certification of Mine Survey Assistants to improve the accuracy of survey data collection and measurement.
  6. Plenary discussions on improving general services that Mine Surveyors provide to the industry.

The (AMSZ) is an affiliate of The Chamber of Mines of Zimbabwe and was formed in 1985 as a Professional Non-Profit Body that represents the interests of the Mine Surveying Profession in Zimbabwe. It comprises of members from Mine Surveying Departments of various Mining Organizations, both locally and abroad, as well as other affiliate members from diverse technical fields related to Mine Surveying and the Mining Industry in general.

Karo to Trial Innovative Methods for its Platinum’s Beneficiation Advancement

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Victoria Falls Stock Exchange-listed mining company Karo Mining Holdings said it will conduct a trial of unique beneficiation processes to develop its Platinum’s beneficiation capabilities.

Rudairo Mapuranga

The mining company is working to ensure that it creates a stable and sustainable mining operation that will ensure communities and the country at large benefit from the true value of the minerals extracted in their area through unique beneficiation processes.

Karo Mining platinum project remains on track, with the first plant concrete pour completed in June and pilot mining having commenced.

Following the commencement of pilot mining which is Phase 1 of Karo’s mining strategy, the company is now seeking to achieve a stable production of 190 000 ounces of 6E, create a stable and sustainable operation and trial unique beneficiation processes.

“Our immediate strategic focus following the commissioning of Phase One of the project is to: Achieve the steady state production target rate of 190 Kozpa of 6E PGMs.

“Create a stable and sustainable operation, and Trial unique beneficiation processes to develop Karo Platinum’s beneficiation capabilities,” Karo Mining Holdings said on LinkedIn.

BREAKING: Soda Zhemu Appointed Minister of Mines

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President Emmerson Mnangagwa has appointed Hon Soda Zhemu as the new Minister of Mines and Mining Development.

Zhemu has replaced Winston Chitando who has been at the helm of the powerful Ministry for the past five years.

More to follow…

Zimbabwe gold buying prices 11 September 2023

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Fidelity Gold Refinery (FGR) official gold buying prices. See the Zimbabwe gold buying prices today 11 September 2023.

SG 90% AND ABOVE US$58.57/g
SG ABOVE 85% BUT BELOW 90% US$57.95/g
SG ABOVE 80% BUT BELOW 85% US$57.33/g
SG ABOVE 75% BUT BELOW 80% US$56.71/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.78/g
FIRE ASSAY CASH US$58.88/g

NB: Fire Assay cash price is for gold above 100gs, no sample is deducted.
For the Fire Assay Transfer price, a sample of not more than 10g is deducted
A 2% royalty is charged on all deposits (small-scale miners)
A 5% royalty is set for Primary Producers

Cash available. Fidelity Gold Refinery prices will be changing daily to match world market prices.

G7 Likely to Sanction Russian Diamonds – report

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There is growing speculation that the G7 countries will announce sanctions on Russian diamonds in September. These sanctions, supported by a tracking system, may be put into effect in January, following the crucial holiday season, per a report in the New York Times, quoted by IDEX Online.

Brad Brooks-Rubin, a senior adviser in the Office of Sanctions Coordination at the State Department said that G7 consumers account for nearly 70% of all diamond purchases. However, it is expected that these sanctions will primarily target diamonds with a carat weight of one or more, leaving out a significant portion of Russia’s diamond production, which consists of smaller stones.

During a G7 meeting held in Hiroshima, Japan, in May, the decision to impose sanctions on Russian diamonds was postponed until a later date. The G7 nations include Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union (EU).

In related news, India has formally requested the US to unfreeze $26 million belonging to at least two Indian diamond companies, which had their assets frozen due to suspected trading ties with the sanctioned Russian diamond giant Alrosa. According to Mining Weekly, this request was made by India through diplomatic channels, as reported by three Indian sources who spoke with Reuters.

Kuvimba Invests $150 Million rejuvenating shutdown mines

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Kuvimba Mining House (KMH), announced its investment of over $150 million in capital expenditure programs aimed at rejuvenating its mothballed mines in the country. This investment is part of KMH’s commitment to consolidate Zimbabwe’s development agenda by reviving and developing strategically important mines and industrial operations.

KMH holds a significant stake or full equity in various entities, including Bindura Nickel Corporation (BNC), Globe and Phoenix, Freda Rebecca, Shamva, Jena, Sandawana, Tiger and Club, Elvington mines, and Zimbabwe Alloys (Zim Alloys). These entities have interests in gold, nickel, lithium, chrome, and platinum.

In an interview, Innocent Rukweza, the Chief Finance Officer of KMH, expressed confidence in the company’s ability to recover the investment made in the acquired entities. Rukweza stated, “We are trying to revive most of the mines that we have, and we have a project of reviving and restarting some of the mines that have not been functional. We are very confident that we’ll recover the investment that we are going to put in.”

As part of its efforts to revive and upgrade the mines, KMH has already spent over $150 million on capital expenditure. Additionally, the company has allocated between $20 million and $30 million for exploration across its operations. The exploration program focuses on mines such as Shamva, Freda Rebecca, Sandawana Mines, and the platinum project in Darwendale, Mashonaland West Province.

One of the most promising projects for KMH is the revival of the former emerald mine, Sandawana, as a lithium and tantalite operation. The company aims to achieve a resource of up to 30 million tonnes of lithium ore in phase 1 of the exploration program. Rukweza highlighted the substantial lithium reserves already identified at the mine, emphasizing the potential of Sandawana as a key asset for the group.

Kuvimba Puts Education at the Heart of its CSR Strategy

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Diversity miner, Kuvimba Mining House (KMH) is upbeat about investing in education as part of its Corporate Social Responsibility (CSR) strategy to ensure that the impact of the mining company’s contribution of the mining firm to the community goes beyond its lifespan.

Rudairo Mapuranga

The mining company through its various mines like Fredda Rebecca, Bindura Nickel Corporation (BNC), and Jena Mines among others has been investing in education to ensure a brighter future for the less privileged.

Recently Kuvimba launched the ED-UNZA scholarship commitment where the mining house announced that it was sponsoring five students to study Bachelor of Science (Honours) Degree in Mining and Geological Engineering at the University of Zimbabwe.

The Scholarship Trust, whose founder and patron is President Mnangagwa, was established in November 2019 to cater for brilliant students who come from humble backgrounds.

Speaking to Mining Zimbabwe KMH CEO Simba Chinyemba said investing in young people is his company’s vision.

He said for the five students whom Kuvimba will take under the ED-UNZA initiative, the mining house will cover all their expenses with the students only worrying about producing high grades.

“For us, investing in young people is part of our commitment to building an organisation that will last beyond this current generation and we commit as long as there is a future, Kuvimba will always be investing in young people and that is really why we are doing this.

“We are committed that we will take all of you for industrial attachment and because we are a company of excellence, if you do well and you pass your degree, we are committing to employ you afterwards.

“It is that simple; you have no pressure to worry about employment after school.

“All you have to worry about is to pass your degree and we will guarantee that you will have a job at Kuvimba Mining House,” CEO Chinyemba said.

According to Kuvimba Chief Financial Officer (CFO) Mr Innocent Rukweza his company was looking towards establishing schools in the communities that they are operating in to create a community that is ready to be absorbed into the mining operations by the company.

He also said the company is about empowering communities through education and uplifting the underprivileged.

“We have been supporting schools (this is an ongoing exercise) within the mining community that is Bindura, Shamva and all over the places that we are operating in. We are looking to establish schools also on the green fields projects we are seeking to develop, we want to go all the way from primary school up to university. We also offer scholarships to the best-performing students and also underprivileged. We want to make sure that we have an educated base where we can get our future employees. It’s all about creating sustainability in the areas that we operating, we are not all about mining but also empowering communities,” Rukweza said.

The five students who are starting their studies at UZ  were presented with brand-new laptops and US$500 cash for their upkeep during the upcoming semester.

The students are Chilongezyo Muleya, Panashe Nyakura, Nelia Fundu, Charity Muleya and Inomusa Sibanda.

In separate interviews, the students expressed gratitude for the life-changing opportunity presented by the ED-UNZA Scholarship Trust, through KMH.

Speaking to Mining Zimbabwe Panashe Nyakura said the gesture by Kuvimba has enabled him to follow through his vision of becoming a mining professional. He said since the country is under-explored, he always had a vision to aid in the quantification of the country’s resources.

“I’m doing mining and Geological engineering, it was my vision to take up this program. The mining industry in Zimbabwe is under-explored, I would want to be of relevance to ensure all the minerals in Zimbabwe are quantified and bankable,” Nyakura said.

Chilongezyo Ethan Muleya, “This is an opportunity for me from Kuvimba Mining House under the ED-Unza scholars. It was my vision to venture into the mining industry and getting this scholarship gives me the opportunity to do what I want. I would want to make a change in the industry. I would want to thank Kuvimba for giving me this opportunity considering my background to follow.”

Inomusa Sibanda said she supported the idea by Kuvimba to put women first in its initiative and to allow them to follow their visions.

“I want to thank Kuvimba Mining House for helping us follow our passion. As a girl child, I’m grateful that Kuvimba has taken this initiative to put women first evidenced by their choice to award this scholarship to 60 percent female. It is of importance for us,” She said.

She also said that she did her secondary education in Gokwe, Midlands Province, through a bursary.

“Though I did my secondary up to A’ Level, I could not afford to go to university in 2021 until I got the ED-UNZA Scholarship programme where Kuvimba is sponsoring my studies together with my colleagues here today.

“This opportunity is really a turning point considering that I am a girl-child, whose gender is largely undermined in a patriarchal society. So, this initiative has also indicated that the girl-child really matters,” Sibanda concluded.

Nelia Fundu said growing up She wanted to join the mining industry and wanted to be one of the top mining professionals in the country.

“As a female, I grew up in the backyard of mining companies like Mimosa and Murowa Diamonds and it was my passion to be one of the first women who would take up leadership positions in the mining industry. I grew up with the passion to become the first female Mine Manager in Zimbabwe or one of the first and Kuvimba has taken me one step further to that dream. I would want to thank them for this opportunity which was looking to be distant a time ago,” Fundi said.

According to Charity Muleya “I come from a very poor family in Beitbridge and because my father was unemployed, I went to school bare-footed, and when I started my secondary education, I got a bursary that provided me with uniforms and stationary and my school fees was also fully paid for.

“At A’ Level, I came out with 13 points and I am very grateful that I got a scholarship through which Kuvimba has chipped in to sponsor me throughout my studies and already as you have heard from KMH, we are guaranteed employment by the company upon successful completion of our studies.”

ED-UNZA Scholarship Trust chairman Mr Herbert Nkala commended KMH for including the education sector under the group’s  CSR programme.

“This is probably the most important undertaking of your corporate life through CSR you will change the lives of people who are otherwise doomed to a life of poverty.

Bikita Minerals to export its first lithium spodumene concentrate consignment

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The country’s biggest lithium producer, Bikita Minerals will export its first spodumene concentrate consignment today. The company has been exporting petalite for decades and is ranked as one of the top lithium-producing mines in the world.

Rudairo Mapuranga

Bikita Minerals is targeting to ship 7000mt of lithium spodumene concentrates and a target of 70 000mt by the end of the year.

The average product grade for the lithium spodumene that Bikita will be exporting is between 5% to 5.5% Li20.

China’s Sinomine Resource Group, the owners of Bikita Minerals who early last year acquired the project, invested US$200 million to build a spodumene concentrates plant to expand its mining operations.

Bikita Minerals has taken heed of the President of Zimbabwe’s call to prioritize value addition and beneficiation before exporting Minerals.

The President hinted that the company has the potential to emerge as a key player in the rise and popularity of the battery manufacturing industry. However, he also expressed his concern that the company should not benefit alone from global achievement but the community in which it is located should also benefit.

He said that his government has implored the company, to prioritize the Bikita community as it digs in its soil and urged the company to treat its workers and environment with great care.

“We have told them that under the Second Republic, we would want to see that lithium is essential to the growth and development of Zimbabwe’s economy. They told us that after two years the company will be generating US$500 MILLION per annum.

“Companies are challenged to listen to their host communities and address their concerns. Communities must equally appreciate that investors are indispensable partners to the realisation of sustainable development and a higher quality of life for all.

“Mining companies must be good corporate responsible citizens, with Corporate Social, Environmental Social, and Governance aspects being critical components of their entities. Tangible socio-economic advantages and benefits should accrue to societies in which they operate. In undertaking their ventures, companies are challenged to listen to their host communities and address their concerns. Communities must, on the other hand, equally appreciate that investors are indispensable partners to the realisation of sustainable development and a higher quality of life,

“For greater harmony and unity of purpose, mechanisms should be developed to improve transparency and accountability so that aspects of the project are understood, while grievances are heard and addressed. “The safety and treatment of employees is also a key component. Mining companies must strive to be model employers by treating and remunerating their workers appropriately,” The President said.

Bikita Lithium Mine is Zimbabwe’s biggest lithium producer and is the home to the world’s largest-known deposit of the metal at around 11 million tonnes.

Bikita Minerals has been an active mining site for around 100 years.

For over 50 years, the mining and extraction of lithium minerals have been at the centre of Bikita Minerals’ activities. Today, Bikita Minerals is the World’s foremost supplier of the lithium mineral Petalite.

Zimbabwe gold buying prices 8 September 2023

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Fidelity Gold Refinery (FGR) official gold buying prices. See the Zimbabwe gold buying prices today 8 September 2023.

SG 90% AND ABOVE US$58.28/g
SG ABOVE 85% BUT BELOW 90% US$57.66/g
SG ABOVE 80% BUT BELOW 85% US$57.05/g
SG ABOVE 75% BUT BELOW 80% US$56.43/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.50/g
FIRE ASSAY CASH US$58.59/g

NB: Fire Assay cash price is for gold above 100gs, no sample is deducted.
For the Fire Assay Transfer price, a sample of not more than 10g is deducted
A 2% royalty is charged on all deposits (small-scale miners)
A 5% royalty is set for Primary Producers

Cash available. Fidelity Gold Refinery prices will be changing daily to match world market prices.