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Zimbabwe gold buying prices 23 June 2023

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Zimbabwe gold buying prices 23 June 2023

Fidelity Gold Refinery (FGR) official gold buying prices Friday 23 June 2023. See the Zimbabwe gold buying prices today.

SG 90% AND ABOVE US$58.33/g
SG ABOVE 85% BUT BELOW 90% US$57.71/g
SG ABOVE 80% BUT BELOW 85% US$57.10/g
SG ABOVE 75% BUT BELOW 80% US$56.48/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.55/g
FIRE ASSAY CASH US$58.64/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.

Zimbabwe Lithium output jumps to 169,5%

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Zimbabwe Lithium output jumps to 169,5%

Zimbabwe has seen a significant increase in lithium production in the first quarter of 2023, as reported by the Zimbabwe National Statistics Agency (Zimstat).

Zimbabwe’s lithium output has increased steadily in recent years, producing 1,200 metric tonnes in 2021. This increase in production comes as the country seeks to exploit one of the world’s most sought-after commodities and develop its entire lithium value chain.

The country’s lithium production index for the first quarter of 2023 was 184.2%, depicting a year-on-year increase of 169.5% from 68.4% recorded in the first quarter of 2022. The quarter-on-quarter percentage increase in output was also 22.2%. The white gold has been perceived as Zimbabwe’s ‘sanctions busting’ card, with authorities setting a US$10 billion revenue target and promising jobs through the mineral’s value addition.

The increase in lithium production comes on the back of plans by the government, through the Ministry of Mines and Mining Development, to maximize the commodity’s value by 300% after beneficiation. The government recently banned the export of any mineral ore containing lithium, with untapped resources and growing global demand making it well on its way to becoming a global lithium hub.

In addition to lithium, the Index of Mineral Production for Zimbabwe was 138.9% during the first quarter period, reflecting a year-on-year percentage increase of 16.8% when compared to 118.9% recorded in the first quarter of 2022. However, the quarter-on-quarter comparison shows a 6.98% decrease in the index from 149.3% recorded in the fourth quarter of 2022 to 138.9% in the first quarter of 2023.

The output index for gold showed a decrease from 117.2% in the first quarter of 2022 to 110.7% in the first quarter of 2023. Platinum increased by 34.6% from 103.3% in the first quarter of 2022, while diamond recorded an annual output increase of 55% with a quarter-on-quarter percentage change of 7.2%.

The Ministry of Mines and Mining Development and the Minerals Marketing Corporation of Zimbabwe list Areas of verified Lithium deposits in Zimbabwe as 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, Bindura, and Kadoma.

Mnangagwa to visit Lubu Coal project

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Mnangagwa to visit Lubu Coal project

Contango Holdings Plc has advised President Emmerson Mnangagwa, will be visiting the company’s flagship Lubu Coal Project on 21 July 2023.

He will be joined by a number of senior Ministers, Zimbabwean officials, domestic and international press, Contango’s existing and potential partners, as well as members of the Contango Board.

This will mark the formal opening of the Lubu Coal Project, following the commencement of the first washed coal last month.

Carl Esprey, CEO of Contango, comments:

“We are honoured that his Excellency Dr Emmerson Mnangagwa, President of Zimbabwe, will provide a formal ceremonial opening of Lubu next month. We have a world-class resource, in excess of 2 billion t of coal, which is now in production. It is our intention, along with our partners, to establish a fully integrated operation, with a number of different revenue streams.

“Investors that wish to visit the site are encouraged to get in touch so that we can share our developments and demonstrate the significant potential offered by the Lubu Coal Project. An updated corporate presentation will be released in advance.”

Disco wants local foundry to benefit

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Disco wants local foundry to benefit

Dinson Iron and Steel Company (Disco) is setting up structures and policies to ensure that the local foundry industry benefits from its Manhize project, company Managing Director Benson Xu has said.

Rudairo Mapuranga

This was revealed at the handover ceremony of the Disco mining lease by the Minister of Mines and Mining Development Hon Winston Chitando at the Zimbabwe Mining Development Corporation (ZMDC) offices on Thursday.

Speaking at the ceremony, Disco Managing Director Benson Xu said the project which is now 70 per cent complete was going to ensure that the local foundry sector benefits by leaving room for downstream Steel using companies to continue with their line of work without Disco trying to manufacture everything.

“The assurance of mining lease to Dinson is very special. We appreciate the Minister of Mines and Mining Development for giving us such confidence and for his continuous support. We have achieved so much from 2018 when we started the project because of the support of the Minister. We are now very busy with the installation of the equipment, we hope that by the end of the year, we will achieve the target to commission blast furnaces. We are still very confident that by the end of this year, we will commission this plant. The new Manhize town has been approved by the local authority. We are saying that Dinsom is going to produce steel and we would want to invite a lot of local participants to come and work with us. Our intention is to ensure that the local foundry sector benefit from Dinson Iron and Steel,” Xu said.

The Dinson Iron and Steel Company (DISCO) Steel Plant is one of the Tsingshan Group of China’s mining projects in Zimbabwe. Tsingshan Group is one of the biggest investors with various other projects such as Afrochine Smelting (Pvt) Ltd in Selous, Mashonaland West which is into chrome smelting and Dinson Colliery (Pvt) Ltd in Hwange, Matabeleland which is into coke production. All these projects are interlinked as both ferrochrome and coke are required in steel production.

The coming of Disco has been duped as an accomplishment of another milestone towards the successful development of the mining sector and the national economy at large. According to the Minister of Mines and Mining Development, Hon Winston Chitando, “This is another step forward as we work towards the achievement of a USD12 billion mining industry by 2023 and ultimately feed into the national vision of Zimbabwe becoming an Upper-Middle Income Economy by the year 2030.”

As outlined in the National Development Strategy 1 (NDS1), some of the strategies being employed to grow the mining sector include attracting funding, enhanced exploration, the opening of new mines, re-opening of closed mines, expansion of existing mines as well as improving levels of local mineral beneficiation. This project is therefore a clear testimony of the government’s commitment towards value addition and beneficiation of minerals. Since the closure of ZISCO Steel, there has been very little production of steel in the country. Currently, only Steelmakers is producing steel.

About Dinson Iron and Steel project

The investment span of the project is from exploration to mining, beneficiation, and value addition. Therefore, covering the entire iron and steel value chain which will result in the creation of jobs, infrastructure development of participating provinces, generation of foreign currency and eventually contributing towards the economy of Zimbabwe.

DISCO (Pvt) Ltd was granted a Mining Special Grant Certificate (SG7126) in March 2021 which gave them the permission to explore and mine iron ore along the Mwanesi Range.

Bikita Minerals In Drive To Improve Livelihoods, Access To Water In Masvingo

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Bikita Minerals In Drive To Improve Livelihoods, Access To Water In Masvingo

ACCESS to water is fundamental and Bikita Minerals is currently walking the talk in working towards improving access to water in Masvingo province.

The mine which is in an overdrive to improve access to basic amenities has now shifted focus to improve access to water, especially in rural communities of Masvingo.

Of late, the mine has initiated drilling of boreholes across the province; six in Masvingo West, six in Masvingo North and 14 in Bikita West.

They are also targeting to drill an additional 10 boreholes in Bikita South and East.

Speaking to this publication, mine manager, David Mwanza said they are targeting to improve livelihoods in marginalized communities through income-generating projects and access to clean water.

“As part of our Corporate Social Responsibility (CSR), we have a theme that, water is life, and we want to reduce the walking distance to a 1 kilometre especially in rural communities to allow families to generate income from green gardening, improve nutrition and avert disease outbreaks,” said Mwanza.

Villagers from Bikita West and Masvingo could not hide their excitement and commended the company for the kind gesture.

“Bikita Minerals values the health and well-being of the surrounding community. The new owners Sinomine have improved the human conditions and quality of life of the community. What the Lithium miner has done in only 2 years cannot be matched by all the previous owners combined,” said 65-year-old Sekuru Gobvu.

Bikita Minerals has made strides in CSR across the province as it seeks to improve the livelihoods of marginalized groups.

In recent months, they have been upgrading roads and ensuring access to healthcare.

Some of the boreholes drilled in Bikita West and Masvingo are solar-powered.

The mine is also working on a power line from Tokwe-Bikita that is set to improve power supply in at-least three districts in Masvingo Province (Gutu, Zaka and Bikita).

Zimbabwe gold buying prices 22 June 2023

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Zimbabwe gold buying prices 22 June 2023

Fidelity Gold Refinery (FGR) official gold buying prices Thursday 22 June 2023. See the Zimbabwe gold buying prices for today.

SG 90% AND ABOVE US$58.50/g
SG ABOVE 85% BUT BELOW 90% US$57.88/g
SG ABOVE 80% BUT BELOW 85% US$57.26/g
SG ABOVE 75% BUT BELOW 80% US$56.64/g
SAMPLE BELOW 10g BUT ABOVE 5g US$55.71/g
FIRE ASSAY CASH US$-/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.

Shamva Mine implements safety standards to ensure zero harm

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Shamva Mine implements safety standards to ensure zero harm

Shamva Mine has implemented a Safety Health Environment and Quality Management system that adheres to ISO 45001, 14001 and 9001 standards. The system aims to achieve zero harm to personnel, the environment and stakeholder ecosystems.

The Kuvimba Mining House (KMH) owned gold mine intends to identify potential hazards and risks, including those that arise because of its operations and put controls in place to manage or eliminate them. With this approach, Shamva Mine believes it can mitigate the risks that affect both employees and the environment.

“Shamva Mine has a Safety Health Environment and Quality Management system that conforms to ISO 45001, 14001 & 9001 standards for Occupational Health, Environmental Management and Quality Management. The objective of the system is to achieve zero harm to personnel, the environment and stakeholder ecosystems. The implementation framework ensures that we are able to identify hazards and risks within our siting of works including those arising as a result of our operations and put controls to eradicate them or manage them to acceptable levels. By so doing, we believe we can tackle all potential risks that can affect our employees and environment,” Shamva Mine General Manager Gift Mapakame said.

While the mining industry faces inherent dangers, the company strives to maintain safety standards and improve its practices continually. Despite unfortunate incidents happening from time to time, the company learns from them, ensuring it can evolve and implement better systems in the future.

“Yes, sometimes we have unfortunate incidents, but our spirit is to draw learning points from these unwanted events and ensure that we continuously improve systems in place,” Mapakame said

Shamva Mine’s commitment to safety is commendable, especially in the Zimbabwe mining industry where accidents and environmental disasters are not uncommon. By implementing strict safety protocols and continually improving standards, the company is positioning itself as a leader in responsible mining practices.

Caledonia Mining shares up 3.3%

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Caledonia Mining shares up 3.3%

Caledonia Mining shot up 3.3% during mid-day trading on Monday. The company traded as high as C$23.17 and last traded at C$22.87. 20,380 shares traded hands during trading, an increase of 134% from the average session volume of 8,717 shares. The stock had previously closed at C$22.13.

Caledonia Mining Co. Plc (CAL.TO) Trading Up 3.3 %

The firm has a market capitalization of C$263.49 million and a P/E ratio of 6.29. The company has a quick ratio of 1.62, a current ratio of 2.98 and a debt-to-equity ratio of 1.20. The stock has a fifty-day moving average price of C$22.87.

Caledonia Mining Co. Plc (CAL.TO) Company Profile

Caledonia Mining Corporation Plc primarily engages in exploring and developing gold properties. The company also explores for precious metals. It primarily holds a 49% interest in the Blanket Mine, a gold mine located in Zimbabwe. The company was formerly known as Caledonia Mining Corporation and changed its name to Caledonia Mining Corporation Plc in March 2016.

Vehicles, shops torched as rival miners clash

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Vehicles, shops torched as rival miners clash

Three Honda Fit vehicles as well as a number of tuck-shops were set on fire in a fight between two rival groups of miners at Wanderer gold mine in Shurugwi.

The incident happened on Friday when the two groups fought running battles over the control of mining areas.

Wanderer Gold Mine is one of the oldest mines in Shurugwi.

There are several tuck-shops dotted around the mine which sell groceries, beverages and even clothing to gold miners operating in the area.

No arrests have been made amid indications that the warring parties have gone into hiding.

Shurugwi District Development Coordinator (DDC) Mr Romeo Shangwa who visited the site confirmed the development.

“Yes, three Honda Fit vehicles and 17 tuck-shops were burnt following misunderstandings between rival groups of gold miners,” he said.

Mr Shangwa said the groups were fighting over control of mining areas around the old mine.

“We have been told that the misunderstanding is over control of mining areas. Three vehicles and several tuck-shops were torched during the skirmishes,” he said.

Mr Shangwa said the district leadership is looking into the matter with the hope of bringing the warring parties to the table.

“No arrests have been made as far as I know. We were told when we visited the site that the culprits had gone into hiding and we want to bring them together so that we avoid such occurrences. Even if one or two people are arrested, the fights will continue hence we want to find a permanent solution,” he said.

Midlands provincial police spokesperson Inspector Emmanuel Mahoko referred Chronicle to national police spokesperson Assistant Commissioner Paul Nyathi who was not available for comment.

Wanderer Mine is owned by a local company which has since abandoned the area because of the activities of illegal miners.

Sources say it is now a free for all, a development that has led to rival groups fighting to control the mining areas.

In 2018, the Government suspended mining operations at the gold mine as a safety measure after part of the mineshaft collapsed trapping several illegal gold miners.

Chronicle

Mine workers demand a minimum US$600 salary

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Mine workers demand a minimum US$600 salary

Mine workers are demanding a salary increment of US$600 for low-grade workers which will be paid in 100 per cent forex, Zimbabwe Diamond and Allied Mine Workers Union (ZDAMWU) General Secretary Mr Justice Chinhema has said.

Rudairo Mapuranga

Speaking to Mining Zimbabwe Chinhema said workers have become demotivated to work due to the low wages they are receiving from mining firms.

He said this situation was likely going to increase Mine accidents in big Mines as the workers have become demoralized and under too much emotional pressure caused by the lack of basic commodities.

“Life is now very hard for the working class, Mine workers included and we are challenging mining companies to come to the rescue of their workers.

“With the running away of the exchange rate against the USD. The RTGS component has become useless and the workers’ salary is losing its buying power.

We now demand a salary review across the sector to USD600.00 paid 100% without the useless RTGS.

“Mining communities are in rural districts and big supermarkets are not found there who normally accept the RTGS using their black market exchange rate.

“A good employer is one who remembers their workers during difficult times. Ignoring this call at mine level might cause a decrease in production. Workers are demotivated due to the slave wage they are earning now. We are also likely to see an increase in mine accidents due to workers pressure mentally,” he said.

Chinhema’s call has come after his organisation released a statement recently demanding salary increments at Chinese owned Bikita Minerals and Anjin Investments.

Below is a statement released by the workers union.

“We want to appreciate the management of Bikita Minerals and Anjin Investments for agreeing to increase the basic minimum wage for their workers with USD100. Taking the minimum wage of the lowest paid employee of these companies to USD450.

This did not come easily but pushing by their union ZDAMWU and threat to job action.

“What we would want to say Today is that – mine workers demand a living wage of USD600.00 minimum paid 100% USD. We will not rest until we achieve this target at the 2 mines and across all mines in Zimbabwe.

Anjin Investments is a diamond mining company that must pay its workers commensurate to the value of diamonds. Other diamond companies namely ZCDC and Murowa are paying better and we want Anjin to follow suit and we shall not rest until the welfare of our members at Anjin are improved , Including working conditions, accomodation , PPE and food. We want also to remind the management that dialogue is important not threats . Management must allow workers to air their grievances and they must lesson and do every step to address the issues.

“As of Bikita Minerals – we also shall be pushing until we get to $600.00. They have capacity to pay.

Works Council bargaining is permissible at law and we shall use that platform to win

We want to thank all those who supported us during the negotiations. We shall continue pushing for more”.

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