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Barloworld to independently distribute CAT products in Zim

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Barloworld to independently distribute CAT products in Zim

Barloworld Equipment UK Limited (Barloworld) announced that it would be independently distributing Caterpillar products in Zimbabwe, a week after Barzem Enterprises said its 70-year-old alliance with the technology dealer would be ending this October.

Barzem’s parent, Zimplow Holdings Limited, announced the end of the deal last week in financial statements for the year ended December 31, 2021.

Barloworld chief executive officer (CEO) Emmy Leeka yesterday said the company had taken the decision to manage CAT’s distributorship effective October 1, 2022.

“This is a result of our growth strategy, which has resulted in changes to our strategic direction and plans for business expansion in the area,” he said.

“The termination of the dealership agreement does not compromise our ability to deliver Caterpillar world-class solutions to our local customers. We want to assure our customers that they can continue to rely on our extensive experience in the mining and construction industry. Caterpillar equipment and services will still be made available in Zimbabwe with Barloworld as sole Caterpillar distributor of the brand. We will continue to be the country’s strategic partner in the growth and development initiatives of its key economic sectors.”

Barloworld Equipment is an earthmoving and energy supply organisation that has been operating for close to a century.

Last week, ZimpIow CEO Vimbayi Nyakudya told a local paper The Zimbabwe Independent that while Caterpillar’s decision would be a “setback”, the firm was ready to handle change.

“Its absence, effective 30 September 2022, will be a notable setback in the short-term,” Nyakudya said.

“However, we are confident of engaging an equally competitive original equipment manufacturer (OEM) in the mining and infrastructure equipment space. We look forward to finalising the on-boarding of a new (supplier) in the shortest possible time, in order to deliver a reliable, durable and cost-effective mining equipment solution to the Zimbabwean market post 30 September 2022,” the Zimplow CEO said.

Along with opportunities on the public space, demand has also been huge in the mining industry, where big players have been expanding operations, while a string of new operators have trooped in.

Caterpillar has been shifting strategy globally, including exiting from the coal and soft rock underground mining business to focus on other mining technology.

In a statement to its financial statements, Zimplow said: “Barzem will exit the Caterpillar distributorship on September 30 2022 given the changes in the strategic direction by both the supplier and Zimplow Group. One of the key strategic matters the group is currently seized with is the search for a new OEM of earthmoving equipment to replace the Caterpillar brand at the end of the Distributorship Agreement on 30 September 2022.”

Zimplow said Barzem’s volume sales of earthmoving equipment rose by 84% during the year ended December 31, 2021 tracking steeper demand in publicly fund road construction projects.

“The focus on production by major mining houses who use CAT surface mining and handling equipment resulted in increased fleet maintenance. Consequently, parts sales grew by 75% and hours sold by 65% against prior year performance,” Zimplow said.

Government developing mineral-based policies

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Government developing mineral-based policies

As the country envisions the mining industry to fetch an annual revenue of US$12 billion by 2023, the government has begun the process of developing mineral-based policies to reduce hurdles associated with bundling a number of minerals under one policy.

Rudairo Mapuranga

Speaking to Mining Zimbabwe, the Deputy Minister of Mines and Mining Development Eng Polite Kambamura confirmed that a process to develop mineral-based policies for all minerals found in Zimbabwe has begun with a lithium policy considered among the minerals to be first prioritized.

“The government has started developing mineral-based policies, each mineral is going to have a development-based policy with lithium, not an exception.  It’s a work in progress to have mineral development policies,” Kambamura said.

Last year, Gemstone Miners Association of Zimbabwe (GMAZ) an affiliate of Zimbabwe Miners Federation (ZMF) chairperson Mr Walter Kawara said mining policies are necessitating increased corruption in the mining, trading and export of coloured gemstones prompting experts to conclude that the lack of a policy specifically for the coloured gem industry was a cause for concern.

Kawara said the government was only paying attention to gold issues at a time when a lot of precious stones were being spirited away under its nose.

“There should be a specific policy which deals with gemstones, the precious minerals act does not deal with semi-precious stones,” Kawara said.

Zimbabwe is currently in the process of amending the Mines and Minerals Act, a process which will see small-scale and artisanal miners beginning to be considered miners different from large-scale producers who are often well-capitalized and heavily mechanized than small scale who use light equipment and lack significant capital and mining expertise.

The government is also currently amending the precious stone trade act, and the gold trade act, among other minerals-related acts for the growth, development and sustainability of the mining industry in Zimbabwe.

KPCS satisfied with Zim readiness, Kambamura

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KPCS satisfied with Zim readiness, Kambamura

The Kimberley Process Certification Scheme (KPCS) review team which visited the country last month to scrutinize the country’s diamond industry’s preparedness as Zimbabwe seeks to take over KP chairmanship next year has expressed satisfaction with the country’s level of compliance to best practice guidelines of mining and trading of gems.

Rudairo Mapuranga

In an interview with Mining Zimbabwe, the Deputy Minister of Mines and Mining Development Dr Polite Kambamura said that the KPCS review team saluted the government and diamond stakeholders for working in line with the best international standards.

The country’s last KPCS review was made in 2012 and the review last month was an opportunity for the diamond industry to showcase advances that have been made since then in terms of processes compliance.

“Last month we had a Kimberley Process Certification scheme inspectorate team which visited our country, they stayed here for about a week and they went around throughout the country to see our preparedness, our readiness in terms of compliance to the KPC standards.

“They went through to Chiyadzwa, they also visited some diamond mining assets such as Murowa diamonds and also visited our ports of entry and the MMCZ. In all these areas they were checking to see that the country adhered to set standards of the KP.

“After the review, we had a meeting with the visiting team and it expressed satisfaction with what they saw on the ground and we are looking forward to getting an official report from the team with regards to their findings. This is in preparation for Zimbabwe taking over the chairmanship of KPC come 2023 and also taking over the chairmanship of ADPA,”  Dr Kambamura said.

Zimbabwe, which was recently elected vice-chair of the Kimberley Process Certification Scheme (KPCS) for 2022 at the plenary meeting held in Moscow from November 8 to 12, 2021 will automatically take over the chair of the KPCS in 2023.

The Kimberley Process Certification Scheme is the core of the Kimberley Process, which is a multilateral trade regime established in 2003 by the United Nations General Council to prevent the flow of conflict diamonds. Under the KPCS, member states implement safeguards against shipments of rough diamonds and certify the diamonds as “conflict free”.

The KPCS works as a tripartite body with the current setup having: Industry (represented by the World Diamond Council; Civil society coalition; and Governments.

Some pertinent matters to note on Zimbabwe’s assumption of the vice-chair of the KPCS include the following:

Zimbabwe will immediately start preparations to take over the Chair and run the Secretariat in 2023; Preparations will also commence for the hosting of the two annual meetings of the KPCS in 2023, namely: the intercessional and plenary;

Establishment of a skeleton secretariat to start learning from other countries in hosting the Chairmanshipand Secretariat; Cognisant that Zimbabwe will take over the Chair in the year that the KPCS holds its review cycle, preparations in that regard will also commence.

US & partners enter pact to secure critical minerals like lithium

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US & partners enter pact to secure critical minerals like lithium

The United States, Canada and other countries have established a new partnership aimed at securing the supply of critical minerals, which are essential for clean energy and other technologies, as global demand for them rises, the State Department said on Tuesday.

Demand for the minerals, such as nickel, lithium and cobalt, is projected to expand significantly in the coming decades.

Massive amounts of these minerals will be needed to meet the United States’ emissions reduction goals, Jose Fernandez, undersecretary for economic growth, energy and the environment at the State Department, said in a telephone interview.

“You will need six times more lithium by 2050 than you use today in order to meet the clean energy goals,” Fernandez said, speaking from Toronto. Canada “is an important supplier of critical minerals,” he added.

The minerals are key inputs in batteries, electric vehicles, wind turbines, and solar panels, and are also used in products ranging from computers to household appliances.

The Minerals Security Partnership will aim to help “catalyze investment from governments and the private sector for strategic opportunities … that adhere to the highest environmental, social, and governance standards,” the State Department said in a statement.

The US government has been working with Canada to boost regional supply chains to counter China’s dominance in the sector.

Critical minerals are “a generational economic opportunity for Canada if we get it right,” Canada’s natural resources minister, Jonathan Wilkinson, said in a phone interview. He spoke at Toronto’s annual mining gathering, called the Prospectors & Developers Association of Canada conference.

Canada has large deposits of nickel and cobalt, while the United States does not, Wilkinson said.

The Minerals Security Partnership, in addition to Canada and the United States, includes Australia, Finland, France, Germany, Japan, South Korea, Sweden, the United Kingdom and the European Commission.

Mining weekly

Flooding erodes road to Sibanye’s Stillwater mine

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Flooding erodes road to Sibanye’s Stillwater mine

Precious metals miner Sibanye-Stillwater reported on Tuesday that all its employees at the Stillwater mine, in flood-hit Montana, were safe, but stated that roads and bridges leading to the mine had been damaged.

The region has experienced widespread floods since Monday after a warm spell led to a rapid melt of accumulated snow in the mountains and associated runoff, which was exacerbated by heavy rainfall over the weekend.

Sibanye said that its Stillwater mine had been most affected by the floods. The road between Nye and the mine had been eroded and several bridges in the region had been damaged.

“This is likely to restrict access to the Stillwater mine for some period that will be better known in the next few days,” the company said.

The East Boulder mine was less affected and access currently remained intact.

Sibanye said a full assessment of the regional impact of the floods and the impact on the operations would be undertaken once the floodwaters had subsided, likely in the next few days.

The Stillwater mine is currently supporting campers that are arriving from the nearby Woodbine campground.

According to the Stillwater county’s Department of Emergency Services Facebook page, emergency responders, along with the Stillwater mine, rescued 68 people from the Woodbine campground and surrounding area. Evacuees were ferried out of the area by raft.

Stillwater county states the flooding along the Stillwater and Yellowstone Rivers and Rosebud Creek was “unprecedented”.

Mining Weekly

Zulu Lithium to commence production Q1 next year

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Zulu Lithium to commence production Q1 next year

London Stock Exchange-listed mining and exploration junior Premier African Minerals Limited is considering an early production strategy at its Zulu Lithium and Tantalum Project if its proposed pilot plant attracts significant funding.

Rudairo Mapuranga

The AIM-traded firm said that, since the acceptance of the subscription by Suzhou TA&A Ultra Clean Technology in March, and with results from initial test work on ore sorting by Anzaplan in association with Stark, it was “clear” that a potential opportunity existed for Zulu to be brought into early production.

According to the company’s Chief Executive Officer Mr George Roach, there is a potential opportunity for Premier to commence early production based on a large-scale pilot plant, he however said that there is yet to be funding for the potential proposed early production.

“It is clear that a potential opportunity exists for Zulu to be brought into early production based on a large-scale pilot plant using ore sorting technology to concentrate spodumene-rich ore from other lithium minerals and gangue material before milling and floatation to produce a spodumene concentrate only and stockpile both a tantalum-rich fraction and petalite for future processing. Based on this plan, it is possible that such a plant could be in production in Q1 2023, funded under an interest-free prepurchase payment for spodumene concentrate to be supplied. Shareholders should note that no funding has yet been arranged for this possible pilot plant and amongst many aspects of this whole concept still under scrutiny, this will still require completion,” Roach said.

Roach also commended saying that: “It is worth noting that the current demand for spodumene and the resultant prices, significantly de-risk this concept and support Premier’s recent focus in terms of both our drilling programme at Zulu that is now exclusively targeting high-grade spodumene zones within the ore body at an indicated resource level and on aspects of the DFS in relation to the implementation of the pilot plant. Importantly, operation of the pilot plant will fine-tune aspects of the process that will support the DFS. Further details will be provided in due course along with details of any finance arrangements, together with illustrative valuation and revenue projections for the pilot plant.

“To date, a total of 18,000 meters has been drilled at Zulu, and after a complete revision of QA/QC procedures and all aspects of sample preparation and analysis, assay testing and results are now continuing and the Company will publish highlights and significant assay results in due course when these are available.

“In closing, I remind shareholders that Premier is potentially following an accelerated programme of early production to exploit the current opportunity. There are identified risks and abatements inherent in this to a greater extent than may be the case following a fully developed DFS. However, the potential immediate availability of prepurchase payment and existing Spodumene price and demand are important and strong motivators in potentially pursuing this option”.

Vast Resources eyes becoming a major player in Zim mining revival

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Vast Resources eyes becoming a major player in Zim mining revival

London Stock Exchange-listed mining and exploration junior Vast Resources PLC (AIM: VAST) has vowed to become a major player in the re-emergence of the mining industry in Zimbabwe, the group Chief Executive Officer Andrew Prelea has said.

Rudairo Mapuranga

According to Prelea Vast Resources is looking to finalise its Joint Venture Agreement with the Zimbabwe Consolidated Diamond Company (ZCDC) as it plans to expand its diamond footprint in the country. He also said that the company remains confident that it will be able to conclude its mining agreement in Zimbabwe despite the delays.

“The vision of the Group continues to become a mid-tier mining group, one of the largest polymetallic (copper, zinc, silver, and gold) producers in Romania, and a major player in the re-emergence of the mining industry in Zimbabwe, where the Group now has a major focus on its diamond interests. The Group is also looking to expand its diamond footprint further afield to complement its Zimbabwe strategy

“The Group has now focused its Zimbabwe strategy on mining its expected diamond concession in Zimbabwe. This opportunity potentially offers high and near-term positive cash flow and is unrestrained by tight currency controls. Discussions with the various Zimbabwe stakeholders remain in line with previous expectations, other than on timing, and we remain confident that we will be able to commence our mining operations in due course. On 22 September 2020, Mark Mabhudhu, Executive Director of the Company’s Diamond Division, left the Company and joined the Government-owned ZCDC as Chief Executive Officer. Mark Mabhudhu’s primary role in that capacity will be to focus on the Zimbabwe diamond sector’s contribution toward the Zimbabwean Government’s 2023 US$12 billion mining vision which is also driven by the attendant implementation of Joint Ventures between the ZCDC and investors in the diamond sector. Whilst we are sad to see Mark Mabhudhu leave Vast Resources PLC, we are pleased that we will be able to continue to work with him in his new role within the diamond mining sector in Zimbabwe,” he said.

He said that discussions continue regarding the conclusion of the Company’s diamond agreement with its Zimbabwe stakeholders. These discussions are in line with previous expectations, save on timing.

“The Company continues discussions to finalise the agreement with Zimbabwe Consolidated Diamond Company (Pvt) Ltd (“ZCDC”) regarding the right to mine diamonds for the Company at the community diamond concession. All stakeholders continue to express their support and the Company remains confident that an agreement will be finalised in due course,” The group CEO  said.

VFEX to host Mining listing masterclass next month

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VFEX to host Mining listing masterclass next month

In an endeavour to encourage small to medium mining companies to list on the stock exchange to raise capital for the achievement of the US$12 Billion mining industry by 2023, the Victoria Falls Stock Exchange will be hosting a mining listing masterclass next month.

Rudairo Mapuranga

Through the mining listing masterclass, the US dollar-denominated equities market is aiming to achieve a significant milestone in line with the thrust of ensuring capital markets play their role in capital raising and economic revival.

“The Victoria Falls Stock Exchange (VFEX) will be hosting a Listing Masterclass on Wednesday 06 July 2022 at Cresta Lodge Msasa, Harare from 09:00-12:30 pm. The masterclass is free of charge, but pre-registration is required. If interested in attending, kindly email [email protected].”

VFEX, a subsidiary of the Zimbabwe Stock Exchange (ZSE), was launched as part of efforts to attract global capital and restore foreign investor confidence in Zimbabwe’s capital markets and help companies raise capital in foreign currency.

The total turnover recorded on the VFEX since the date of launch is USD$$8,887,347.10. Of the total VFEX turnover by value, 93 per cent, (USD8.8 million) was recorded in the year 2022

Since its inception, the listed companies on VFEX have grown to four counters, namely SeedCo International, Padenga Holdings, Caledonia Mining Corporation, and Bindura Nickel Corporation.

Kuvimba Mining House recently indicated plans to list two more units on the VFEX while a local start-up technology company Avantis Technologies said it plans to complete the listing process during the second half of the year.

Kuvimba is majority-owned by the government and holds assets such as Bindura Nickel Company (BNC) and Freda Rebecca Mine, the country’s biggest gold mine.

Seed Co International Limited pioneered trading on the VFEX, followed by crocodile skin and gold producers Padenga Holdings and Caledonia Mining Corporation. Caledonia Mining ended up issuing more shares in respect of its VFEX listing in order to raise more funds than originally anticipated following an extremely positive Zimbabwe investor response. BNC also indicated that it has an ambitious capital program that will be sustained through funds raised from the VFEX.

Premier African Outlines production Plan for Zim Project

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Premier African Outlines production Plan for Zim Project

Shares (British Virgin Islands) in Premier African Minerals Ltd. fell Monday in early trading after the company said that it is considering an early production strategy for its Zulu lithium and tantalum project in Zimbabwe.

The mining exploration company said that pursuant to test results, there exists a clear potential for a large-scale pilot plant to produce spodumene concentrate only, stockpiling tantalum and petalite for future processing. Such a plan could be in production in the first quarter of 2023, Premier African said.

Spodumene and petalite are two types of lithium ore.

“Premier is potentially following an accelerated programme of early production to exploit the current opportunity. There are identified risks and abatements inherent in this to a greater extent than may be the case following a fully developed DFS [definitive feasibility study],” Chief Executive George Roach said.

At 0742 GMT (British Virgin Islands), shares were down 10% at 0.36 pence.

The Premier African Minerals Ltd (LON: PREM) share price plunged 12.5% despite the company announcing an accelerated plan that could see it start production activities at its Zulu lithium and tantalum project by Q1 2023.

It is unclear why investors reacted negatively to the news. Still, one of the reasons could be because it is a more risky plan than if the company stuck to its original plan of completing a definitive feasibility study (DFS) to determine the best way forward.

The lithium mining company said it could secure funding to build a large-scale pilot production plant using an interest-free prepurchase payment for spodumene concentrate from an interested buyer. The firm is looking to capitalise on the enormous demand for spodumene concentrate globally.

Premier African Minerals shareholders may have overreacted to the announcement, despite its positive nature, given that the building of the pilot production plant would help the company complete sections of its DFS, which is a significant bonus. The firm also revealed that high demand for spodumene significantly de-risks the proposal.

Register to become an MMCZ subagent, deadline tomorrow

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Register to become an MMCZ subagent, deadline tomorrow

The Minerals Marketing Corporation of Zimbabwe (MMCZ), recently called for individuals and corporates to participate in buying and selling gemstones as subagents of the company.

Many Mining Zimbabwe readers wrote to us to enquire on how to go about the process and the MMCZ has provided detailed information on how to register and become a subagent.

The expression of interest should be submitted at the MMCZ head office in Harare by 10:00hrs tomorrow (14 June 2022).

See DOCUMENT of requirements HERE.

 

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