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Zimbabwe ranks 10th African country with booming Mineral Exports

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Zimbabwe ranks 10th African country with booming Mineral Exports

Zimbabwe has been listed as the tenth African country to have exported the largest volumes of natural resources totalling us$9.77 billion for the year 2022.

In a list, courtesy of a report done in 2022, by the Economist Intelligence Unit, the research and analysis division of The Economist Group, Zimbabwe is slightly below Gabon which exported $10.92 billion.

South Africa sits at the top of the list with a mineral production worth a staggering us$124.96 billion. This is primarily due to the country’s rich deposits of gold, manganese, and platinum.

South Africa is trailed by Nigeria which generates the second-highest mineral revenue at $52.69 billion. The country’s oil reserves form a significant part of its mineral wealth.

3rd on the list is Algeria with revenues largely derived from hydrocarbons. Angola at number four has a diverse range of minerals including diamonds, gold, and oil. It generates $32.04 billion in mineral revenue.

Despite being ranked fifth on the list, Libya has a relatively modest annual mineral production of $27.03 billion. This is primarily due to the country’s reliance on oil and neglect of other minerals.

Egypt has a variety of minerals including gold, copper, and silver. Its mineral revenue stands at $23.22 billion.

Ghana trails Egypt and mineral production primarily comes from gold, limestone, and iron ore. It generates $14.97 billion in mineral revenue.

At number eight is the Democratic Republic of Congo which hosts a large reserve of minerals including gold, copper, and cobalt. It generates $13.69 billion in mineral revenue.

Ninth is Gabon which has significant deposits of manganese, iron ore, and uranium generating $10.92 billion in revenue.

At number ten is Zimbabwe which hosts a variety of minerals including platinum, chrome, coal, and gold. The country also has the largest deposits on Lithium on the continent. Its Bikita Minerals mine holds the world’s largest-known deposit of lithium at approximately 11 million tonnes.

Despite gruelling sanctions, the country in 2022 generated us$9.77 billion in mineral revenue.

Zimbabwe set a target of a 12 billion mining industry by the end of 2023 and should it meet the target the country will likely advance on the list.

Below are the top 10 African countries that exported the most significant volumes of natural resources in 2022 and generated the most wealth from their abundant reserves.

RankCountryPredominant resourcesAnnual mineral production
1.South AfricaGold, Manganese, Platinium, others$124.96 billion
2.NigeriaOil, Iron Ore, Columbite, others$52.69 billion
3.AlgeriaHydrocarbons$38.70 billion
4.AngolaDiamond, Gold, Oil, others$32.04 billion
5.LibyaOil, Clay, Cement, Salt, others$27.03 billion
6.EgyptGold, Copper, Silver, others$23.22 billion
7.GhanaGold, Limestone, Iron Ore, others$14.97 billion
8.Democratic Republic of CongoGold, Copper, Cobalt, others$13.69 billion
9.GabonManganese, Iron Ore, Uranium, others$10.92 billion
10.ZimbabwePlatinum, Chrome, Coal, Gold, others$9.77 billion

 

Zulu Plant to Produce 1,376 tons of Concentrate before remedial upgrades

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Zulu Plant to Produce 1,376 tons of Concentrate before remedial upgrades

Premier African Minerals Limited, is pleased to provide a further update on progress at Zulu Lithium and Tantalum Project.

Highlights

·   

Plant provider has recommended staged approach to optimisation.

·   

First Spodumene (SC6) shipments now scheduled for June 2023.

·   

Final optimisation now expected in Quarter 4 of 2023 following plant modifications.

·   

Production from Spodumene float circuit expected to increase by 25% after final optimisation.

·   

Mining operations continue to confirm resource model.

George Roach, CEO commented, “The process plant is fully commissioned and capable of producing concentrate. The Plant Supplier has advised that the milling and sizing component of the plant requires certain limited modifications to allow for full optimisation to design capacity throughput. The Plant Supplier has provided details and timelines for this remedial action and pending completion of this work, has advised that expected production of concentrate to 30 June 2023 will be 1,376 tons and production for July and August will be 1,137 tons per month, increasing to 2,359 tons in September, 3,577 tons in October 2023 and 4,471 tons from 1 December 2023.

At present concentrate prices and production at these current levels to the end of August, the Company expects Zulu to operate profitably.

The modifications include the upgrade of screening, relocation of the mill and addition of cyclones to remove correctly sized material to the floatation plant. Premier understands that the costs associated with this remedial action will be met by the plant supplier, and we will work with them to ensure that the plant achieves nameplate throughput expeditiously.

As announced on 29 March 2023, Premier’s requirements to supply spodumene to Canmax Technologies Co., Ltd. (“Canmax”) are to ship first product by 30 May 2023 (which will not now be met), failing which CanMax may elect to cancel the Marketing and Pre-Payment Agreement and require that the prepayment plus interest is settled within 90 days following notice. Canmax has always been supportive of Premier, and we continue to engage with them and look forward to first shipment in June 2023.

While frustrated with the timeline for putting the plant into full production, I am encouraged by our growing confidence in our resource and mining operations, near completion of our dam and tailings facility, performance of the crushing, sorting, and floatation elements of the plant.

The Company has previously advised that the delays had caused our cash to be constrained. Recent exercise of options and issue of remaining shares free from pre-emptive rights by way of direct placement, has provided interim relief to this position. Alternative further funding may need to be sought if there are any further significant shipment delays.”

Drill Holes: Lithium & Tantalum Results

The table below sets out the composites determined, as per the outlined compositing routine in the text below the table, from analyses received from the independent external laboratory (SGS) for holes ZDD149, ZDD154, MIDI-GT-05A, MIDI-GT-06, MIDI-GT-07, MIDI-GT-08, ZT005, ZT011 & ZT012.

Table 1 -Assay Summary Results

Hole

From (m)

To (m

Width* (m)

Li2O%

Ta2O5 ppm

Rb ppm

MDI-GT-05A

195.90

209.55

13.65

1.86

127

539

MDI-GT-06

67.60

75.55

7.95

1.34

77

1161

MDI-GT-06

125.40

132.55

7.15

1.33

75

1565

MDI-GT-07

48.87

54.32

5.45

1.41

76

1652

 

 

 

 

 

 

 

MDI-GT-07

70.00

75.64

5.64

1.03

45

1585

MDI-GT-07

79.33

88.20

8.87

0.87

112

1689

Incl.

80.33

 

81.33

 

1.00

1.68

 

167

 

1301

 

MDI-GT-07

104.25

106.82

2.57

1.26

45

1092

MDI-GT-07

117.30

120.24

2.94

1.91

62

1399

Incl.

117.30

 

118.30

 

1.00

 

3.23

 

79

 

1677

 

MDI-GT-07

 

131.77

140.20

8.26

1.14

111

1088

Incl.

132.77

 

133.84

 

1.07

1.92

 

2

 

771

 

MDI-GT-08

90.10

96.10

6.00

0.95

85

1522

 

 

 

 

 

 

 

Incl.

92.10

 

93.10

 

1.00

 

1.88

 

123

 

1635

 

MDI-GT-08

130.68

133.61

2.93

2.18

32

393

MDI-GT-08

137.45

146.55

9.10

1.52

56

1471

Incl.

140.00

 

141.85

 

1.85

 

2.32

 

102

 

1234

 

ZDD149

 

295.56

297.88

2.32

1.20

18

2408

ZDD149

300.19

302.52

2.33

1.25

53

433

ZDD154

222.32

229.18

6.86

1.60

72

667

ZT005

22.00

24.00

2.00

1.20

72

1800

ZT005

27.60

30.10

2.50

0.66

58

1140

ZT005

35.40

38.00

2.60

1.43

54

1312

ZT005

42.60

47.50

4.90

0.53

85

1657

ZT011

71.11

73.50

2.39

0.87

53

3550

ZT012

35.71

41.00

5.29

0.54

58

2776

 

*Not True Width but drilled width

**0.50% Li2O cut-off applied.

The following compositing routine has been applied:

·                   

0.50% Li2O cut-off was applied to the pegmatitic intersections only.

·                   

<2m standalone composites at the cut-off grade but with an overall weighted average grade of >0.5% Li2O are not reported.

·                   

Within any composite of >2m thickness, high-grade intersections of 1m and greater are reported provided the high-grade intersection is a multiple of x 1.5 of the overall weighted composite grade, and

·                   

Within any composite, inclusions of country rock of <2m thickness are included within the composite provided the overall grade of the composite is not <0.50% Li2O.

The following Table 3 sets out the drill hole collar coordinates for the drill holes reported in Table 1 above:

Table 2 – Drill Holes Collar Coordinates

Dhole

UTM 35S*

Easting

UTM 35S*

Northing

Elevation (AMSL)

Azimuth TN (°)

Collar Dip

       (°)

EOH

(m)

MDI-GT-05A

751164.023

7782864.865

1341.68

19.41

-69.68

250.1

MDI-GT-06

751095.609

7782404.083

1316.569

153.92

-71.25

202.48

MDI-GT-07

751167.197

7782345.715

1313.152

217.4

-67.48

202.58

MDI-GT-08

751109.254

7782250.679

1324.084

194.27

-70.48

151.68

ZDD149

750709.986

7782110.631

1328.076

105.94

-50.76

361.68

ZDD154

751077.739

7782108.867

1320.744

291.6

-53.56

251.48

ZT005

751196.456

7782304.848

1312.501

290

0

127.00

ZT011

751226.4069

7782721.784

1331.701

290

0

98.00

ZT012

751199.5709

7782684.17

1326.97

290

0

80.50

 * ARC1950 Datum (10m local datum shift)

The Geology of Zulu

The area, located in the Fort Rixon Greenstone Belt, is underlain by Archaean-aged meta-volcanics and meta-sedimentary sequences of the Bulawayan Supergroup, with serpentinites and banded iron formations at the base in the east and metamorphosed volcano-sedimentary sequences to the west. The greenstone belt is tear drop shaped measuring 30 km long and 19 km wide near the broad section at the top. Metamorphism is retrograded to Greenschist facies.

The Zulu Pegmatite is a LCT (Lithium-Caesium-Tantalum) pegmatite swarm which intrudes along the contacts between serpentine and metamorphosed volcano-sedimentary sequences over a strike length of several kilometres. Outcrop widths vary between 10 and 50m. The pegmatite bodies strike N20° and dip 70° to 90° to the west.

The area was first pegged in 1955 by J.S. Willemse and intensely explored, under option, by mapping, trenching, and drilling by Rhodesian Selection Trust Co. Ltd. (“RST”) in 1958. In 1961 and 1962 a small quantity of petalite from the River Pegmatites (see below) was mined by W. Burchett in partnership with J.S. Willemse. Premier later acquired the claims in 2013.

Recent mapping and interpretation of the pegmatite swarm from semi-quantitative X-Ray Diffraction (XRD) has identified three distinct phases of pegmatites. A spodumene-rich, thick pegmatite named the Main Zone which lies north and south of the Machakwe River, footwall low-spodumene pegmatites with associated tantalum and rubidium and a suite of petalite-bearing pegmatites of short strike length, named the River Pegmatites.

In general, the lithium minerals, occurring in varying quantities, are coarse grained with associated feldspars and quartz with only very minor sulphides being observed. In several contact zones, the lithium-bearing amphibole, holmquistite, has been observed.

Zimbabwe gold buying prices 26 May 2023

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Zimbabwe gold buying prices 26 May 2023

Fidelity Gold Refinery (FGR) official gold buying prices Friday 26 May 2023. See the Zimbabwe gold buying prices for today.

SG 90% AND ABOVE US$59.50/g
SG ABOVE 85% BUT BELOW 90% US$58.56/g
SG ABOVE 80% BUT BELOW 85% US$57.93/g
SG ABOVE 75% BUT BELOW 80% US$57.31/g
SAMPLE BELOW 10g BUT ABOVE 5g US$56.37/g
FIRE ASSAY CASH US$59.50/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.

Bikita Minerals resumes operations

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Bikita Minerals resumes operations

Zimbabwe’s biggest lithium miner, Bikita Minerals has resumed operations.

Bikita Minerals resumed operations after it suspended operations for seven days to address administrative concerns raised by authorities at the plant the company said in a press release last week.

“This notice serves to inform our stakeholders and partners that we have put our operations on hold for 7 days to address administrative concerns raised by authorities at our plant.

As a law-abiding corporate, we remain committed to fully complying with all requirements of the law and expect to resume operations once all the outstanding issues have been addressed,” the company said recently.

Demand is rising for battery metals like lithium due to an increase in the hunt for cleaner energy.

The company intends to expand existing operations at the mine after purchasing it for $180m in January 2022. A further $200m has been invested in two plants that are being constructed to create 250,000 tonnes of spodumene concentrate and 480,000 tonnes of petalite annually.

These minerals are crucial to the glass and ceramic industry, and a key battery mineral, respectively. The projects are set to begin by July. Chinese firms have invested over $700m in Zimbabwe as the country possesses some of the most significant lithium deposits worldwide.

The Sinomine Zimbabwean mining unit follows after recent partnerships between Chinese firms and Zimbabwe. Chengxin Lithium Group, Zhejiang Huayou Cobalt, and Canmax Technologies have all invested in Zimbabwe.

The Bikita mine is the largest lithium mine in Zimbabwe. The mine is privately owned and holds the world’s largest-known deposit of lithium at approximately 11 million tonnes according to Wikipedia. The mine is located in Masvingo Province. The Bikita Minerals has reserves amounting to 10.8 million tonnes of lithium ore grading 1.4% lithium thus resulting in 0.15 million tonnes of lithium.

Zimbabwe: a Burgeoning Lithium Hub

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Zimbabwe: a Burgeoning Lithium Hub

Boasting the sixth largest lithium reserves globally and representing one of Africa’s biggest producers of the commodity, Zimbabwe is poised to play a crucial role in advancing the global energy transition through the supply of lithium and related products.

With untapped resources, a national agenda to develop the entire lithium value chain and new investment flowing inwards due to growing global demand, the country is well on its way to become a global lithium hub.

Untapped Resources Reflect Production Potential

Boasting Africa’s largest confirmed lithium reserves, Zimbabwe’s massive yet largely untapped mineral resources offer lucrative investment opportunities for investors and mining companies alike. The country’s Bikita Mine is home to approximately 11 million tons of lithium resources, however new exploration campaigns are likely to unlock new levels of reserves. Currently, the country is estimated to have the highest number of lithium projects under exploration in Africa, with the development of projects such as the Arcadia Mine – estimated to hold upwards of 26 million tons; the Zulu Lithium Mine; and others set to position the country as a global producer.

Downstream Focus Triggers Market Growth

While Zimbabwe’s upstream mineral sector is a buzz of exploration, the country has long-relied on international refineries to process and distribute its lithium resources. In 2023, the Government has shifted its focus towards the downstream sector in a bid to drive infrastructure development, employment creation and investments across the domestic market. Recently, the Government imposed a ban on the export of raw lithium in a bid to boost the domestic value chain and strengthen value addition in the minerals sector. As such, the country is well positioned to become both a global producer and regional processing hub, with a strong pipeline of investment opportunities cropping up across the country.

Zimbabwe’s Lithium Production History Reduces Investment Risk

Zimbabwe’s history as a lithium producer dates back six decades. During that time, the country has enjoyed the participation of a slate of international mining companies, established a market-focused business environment while developed the domestic workforce and local content framework in line with global standards. The country’s experience as the biggest lithium producer in Africa coupled with its expanding domestic market not only reduce investment risk in the country but are expected to play a major role in positioning Zimbabwe as a global lithium hub as new players enter the promising market.

Zimbabwe to Meet 20% of Global Lithium Demand

As the global economy shifts to net-zero solutions, the demand for lithium – among other minerals necessary for the production of many clean energy technologies – has begun to dramatically increase, and if the full potential of Zimbabwe’s lithium resources is unlocked, the country will meet upwards of 20% of global demand. Already, investment is flowing in to the country, a testament to the country’s potential of becoming a lithium hub.

Recent developments across the Zimbabwean market include Zhejiang Huayou’s $422 million acquisition of controlling rights to the Arcadia Mine; Premier African Minerals joint venture with Li3 Resources; Sinomine’s $180 million acquisition of a 100% stake in African metals Management Services and Southern African Metals and Minerals; and the $1.7 billion acquisition of the Williams Minerals lithium mine by China Natural Resources.

Furthermore, with China – the world’s largest importer of lithium – having significant interests in the Zimbabwean market, the role the southern African country plays as a major player in the global lithium market continues to grow.

Economic Targets Trigger Long-Term Growth

With the mining industry accounting for a 12% share of the country’s gross domestic product, the Zimbabwean Government has committed to boosting economic growth on the back of lithium investments and developments. The Zimbabwean Government’s plan to turn the mining sector into a $12 billion market in 2023 is expected to not only drive new investments and international player participation in the sector on the back of recently introduced incentives, but will further position the country as a global lithium hub.

Source: ECP

All roads lead to Vic falls for the Mining Industry’s Prime Event

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All roads lead to Vic falls for the Mining Industry’s Prime Event

On the 30th of May 2023, all roads lead to Elephant Hills Hotel in Victoria Falls where the highly anticipated mining industry’s prime event, Chamber of Mines AGM and Annual Mining Conference of 2023 will be taking place.

Mining Zimbabwe spoke to the Chamber of Mines of Zimbabwe (CoMZ) Chief Executive Officer (CEO) Mr Isaac Kwesu who said the must-attend event is a platform for engaging the government and key stakeholders in mining-related issues.

Here is what to expect at the Chamber of Mines AGM and Annual Mining Conference next week.

What is the purpose of the upcoming Chamber of Mines of Zimbabwe’s AGM conference and exhibition?

Chamber of Mines AGM and Annual Mining Conference has emerged to become the mining industry’s prime event which provides a platform to engage Government and key stakeholders on pertinent matters affecting the mining industry.

The closed-door Council and AGM are a Chamber constitutional requirement that provides for discussion of issues affecting the mining industry and Chamber constitutional matters that include the election of Chamber Leadership: members of the Presidium, members of the Council and members of the Executive Committee. The AGM also discusses governance and high-level policy matters that affect the Chamber as a going concern as well as issues affecting the performance of the mining industry.

The Annual Mining Conference is held on the sidelines of the Closed-Door Meetings. The Conference has received overwhelming support over the years and continues to attract key stakeholders including the President of the Republic of Zimbabwe, Government Ministers, senior executives of Mining Houses, and those from the suppliers to the mining industry, investors, financiers, labour and from communities. The participation of the Government has allowed the mining industry an opportunity to build consensus with the Government in developing strategies to unlock the full potential of the mining sector to maximise the contribution of the Sector to the socio-economic development of the country. The Conference also provides an opportunity for suppliers and mining companies to exhibit and showcase their products.

Who are the targeted participants for this conference and exhibition?

The Conference draws participants from Senior Executives of mining companies, suppliers, bankers, financiers, and investors, as well as Senior Government Officials and all other stakeholders with interests in the mining industry. Attendance is open to all interested parties.

What are some of the key themes that will be discussed during the conference sessions?

The Conference will run under the Theme: Mining for Economic Transformation: “Creating Growth Enablers for the Mining Industry”. There will be a Lithium Symposium on the sidelines of the Main Conference running under the Theme: Unleashing the Growth Potential of the Battery Minerals Value Chain.

Can you highlight any notable speakers or presenters who will be attending the event?

The President of the Republic of Zimbabwe, HE Dr. E. D. Mnangagwa has been invited to be the Guest of Honour. Other notable Speakers include Hon. W. Chitando, Minister of Mines and Mining Development, Dr. J. P. Mangudya, Governor, Reserve Bank of Zimbabwe, Mr. July Ndlovu, seasoned mining expert, Mr. John Sisay, international mining expert, G. Botshiwe, Vice President, Chamber of Mines of Namibia, CEOs of Banking Institutions including Stanbic, Nedbank, Ecobank, ZB Bank, Old Mutual, CBZ, Mining Industry Association of Southern Africa, and representatives from Hatch (international technology company). The Victoria Falls Stock Exchange has also been invited to speak at the Annual Mining Conference.

What are the requirements for Companies that want to showcase new technologies or trends that at the exhibition segment of the conference?

There will be opportunities to exhibit at the conference, details can be obtained from the Chamber Secretariat. We urge those interested to make early arrangements as the space available is filling up fast.

What are some of the specific networking opportunities that delegates can expect from attending this conference and exhibition?

There will be several networking and entertainment activities lined up including sponsored boat cruise, dinners, cocktails, and a golf networking tournament. It is our hope that these activities will afford delegates sufficient opportunities to develop networks that support their businesses and personal growth.

Bikita Minerals rehabilitates roads

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Bikita Minerals rehabilitates roads

Bikita Minerals has set aside funds for the rehabilitation of roads in the Bikita and Gutu districts as part of its social responsibility that will help spur economic and social activities.

Apart from the rehabilitation of gravel roads in the two districts, Bikita Minerals has also set up a development fund administered by Chief Marozva.

Speaking during the launch of the road rehabilitation project at Chinhamo shopping centre, Bikita Minerals mine manager David Mwanza said the company is embarking on the road maintenance and rehabilitation exercise as most roads had been affected by rains.

“We have started rehabilitating roads in the district, starting with Bedmore Primary School Road. Most of the roads that we are prioritising are those that have been affected by rains as well as roads linking schools and clinics in the district. There is a popular Chinese saying which says, if you want to get rich, build a road first. It is correct because people can come in and out easily and the community has access to health, school and business facilities,” said Mwanza.

Bikita Minerals this week unveiled a new Corporate Social Responsibility Committee chaired by General Manager Wang Zhenhua and the committee has not wasted time in getting down to work.

The local traditional leader, Chief Marozva, said the move by Bikita Minerals will benefit the community and contribute to the development of the area.

“We appreciate the road rehabilitation works by Bikita Minerals and the local community is very excited as most roads were now impassable. All users of the road will benefit from the rehabilitation of the road including transport operators, businesses and farmers. Good roads are networks that promote beneficial social and economic activities by ensuring a smooth flow of goods and services,” said Chief Marozva.

Meanwhile, Bikita Minerals has also started road construction works on the Bikita – Gutu Road and the project is set for completion by the end of June.

The Lithium miner whose Corporate Social Responsibility focus areas are health, education, employment, water and sanitation has this year set aside US$2 million for the Bikita, Gutu and Zaka rural electrification program. In addition, the mining company has drilled 13 boreholes for the surrounding communities and its school feeding program covering 13 schools in the district which has contributed to high rates in school attendance.

Villagers demand the restoration of their land from Chinese miner

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Villagers demand the restoration of their land from Chinese miner

Villagers from Kanyandura village in Mudzi District are up in arms with Zim Win Mining Company (Pvt) Ltd for digging dangerous trenches in their area during the Chinese firm’s unlawful mineral exploration activities.

Through the Zimbabwe Lawyers for Human Rights (ZLHR), villagers are demanding the filling of all trenches and the restoration of the land to its original state.

Initially, the miner assured villagers its proposed activities were going to be carried out in compliance with all relevant statutes governing the business operation and in the interest of the health and safety of workers and community.

The company had also promised full compensation for any losses incurred by the community as a result of its operations.

Villagers turned down a bid by Zim Win Mining Private Limited to secure their endorsement of the project through signing of consent forms.

The company still went on to excavate a portion of land in the village, leaving a deep trench that is potentially harmful to people and livestock.

This was in direct breach of section 31 of the Mines and Minerals Act.

ZLHR’s Tinashe Chinopfukutwa and Kelvin Kabaya have since demanded reclaiming of the trench.

The lawyers said the company’s consent forms are vague and lack particularity as to the consequences of such mining operations on villagers’ livelihoods, farming activities, environmental impact and the exact nature of compensation for the negative effects of the controversial venture.

The lawyers have also engaged the mines ministry and the Environmental Management Agency (EMA) over the miner’s unlawful activities.

In a letter written to the Provincial Mining Director for Mashonaland East province and to EMA, lawyers complained that Zim Win Mining Private Limited had pegged a substantial portion of the villagers’ land without consulting them.

The pegged land, lawyers said, covers villagers’ principal homesteads, farming and grazing land.

They also complained that Zim Win Mining Private Limited had, through its agents, been exerting undue influence on the villagers to sign consent forms to allow the company to carry out mining operations on their land.

The lawyers asked the Provincial Mining Director to furnish them with a copy of the prospecting licence granted to Zim Win Mining Private Limited, if any was granted.

Chinopfukutwa and Kabaya charged that in the event that a prospecting licence was granted to the company, the pegging of Kanyandura village was unlawful because “according to the provisions of section 31(1) of the Mines and Minerals Act, a holder of a prospecting licence must not exercise any of the rights conferred in terms of the prospecting licence on communal land without the consent of the occupier”.

In addition, the human rights lawyers said the provisions of “section 31(1)(h) of the Mines and Minerals Act, states that no holder of a prospecting licence can proceed to peg communal land occupied as a village without the written consent of the Rural District Council of the area concerned”.

Chinopfukutwa and Kabaya also enquired if any Environment Impact Assessment had been conducted in relation to the mining project.

Zimbabwe gold buying prices 17 May 2023

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Zimbabwe gold buying prices 17 May 2023

Fidelity Gold Refinery (FGR) official gold buying prices Wednesday 17 May 2023. See the Zimbabwe gold buying prices for today.

SG 90% AND ABOVE US$61.31/g
SG ABOVE 85% BUT BELOW 90% US$60.34/g
SG ABOVE 80% BUT BELOW 85% US$59.70/g
SG ABOVE 75% BUT BELOW 80% US$59.05/g
SAMPLE BELOW 10g BUT ABOVE 5g US$58.08/g
FIRE ASSAY CASH US$61.31/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.

Vast finalizes recovery of Diamond parcel from Zimbabwe

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Vast finalizes recovery of Diamond parcel from Zimbabwe

UK miner Vast Resources says it is finalizing the recovery of a parcel of 129,400 carats of rough diamonds in Zimbabwe after a 12-year dispute.

The company successfully sued the country’s Mines and Mining Development Ministry early this year and now plans to sell the diamonds through a tender.

It surrendered gems from the Marange diamond fields amid claims it had exploited them on claims previously owned by De Beers.

In an update issued on the 15th of May the company said its CEO was in Zimbabwe to finalise the diamond issue

“Andrew Prelea, the company’s Chief Executive Officer, is currently in Zimbabwe as the company finalises the recovery of the historic parcel of 129,400 rough diamonds held in safe custody at the Reserve Bank of Zimbabwe pursuant to the High Court Order in the company’s favour.”

Vast, which has mines and projects in Romania, Tajikistan and Zimbabwe, began formal proceedings to recover the gems last December and won a default order against the Mines and Mining Development Ministry.

IDEX

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