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BREAKING: Accident claims one at How Mine

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BREAKING: Accident claims one at How Mine

A Bulawayo Mining Company air loader operator Mr William James died at How Mine yesterday during underground operations.

Following the accident, James was taken to the Mine’s wellness centre where he was pronounced dead.

In a statement the company expressed sadness following the fatality.

“This is an extremely tragic incident for the how mine community, which has operated for over four million man hours without a fatality. Management extends its deepest condolences to the bereaved, and has immediately mobilized all necessary support to the bereaved, and has immediatedly mobilized all necessary support to the deceased’s family and colleagues.

“All relevant authorities have been notified. Detailed investigations into the incident have begun, in partnership with the Mines Inspectorate and Independent investigators, including the equipment supplier.

How Mine will continue to review safety measures to prevent such accidents from recurring,” the company said in a statement.

How Mine is located in Bulawayo and recently won an award for the most improved gold miner of the year 2021 from the Ministry of Mines and Mining Development.

Gold prices will reach $1 806.10 an ounce by year-end

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Gold prices will reach $1 806.10 an ounce by year-end

Not even the most hawkish Federal Reserve in decades can beat down the exuberance of gold enthusiasts at the industry’s biggest annual gathering.

Bullion prices will reach $1 806.10 an ounce by year-end, according to the average estimate in a survey of 10 participants at the Denver Gold Forum, the yearly meetup of mining executives, investors, bankers and analysts.

The forecast is 7.8% above Monday’s spot closing price. The last time gold settled that high was at the beginning of July.

“You’ll continue to see investment globally interested in owning gold strategically” including from central banks, World Gold Council’s Joseph Cavatoni said in an interview at the 34th annual event. “Plus the geopolitical risks are going to keep it front and centre, on the mind of every investor.”

Still, Cavatoni predicts “a bumpy ride” between now and the end of the year, with gold fluctuating until central banks around the world give more clarity on their fight against inflation.

Bullion had held above $1,700 an ounce for most of September but tumbled last week after breaking through a key support level that has held since 2020. The sell-off came amid investor jitters across the financial markets that the Fed will likely to raise interest rates by at least 75 basis points Wednesday and that an even bigger increase could lead to more volatility across all asset classes.

Central banks’ monetary tightening to rein in inflation has pushed up rates and the Fed’s aggressive tightening led to a supercharged greenback. Both are bad news for gold since the precious metal pays no interest and is priced in the US dollar.

“The momentum is clearly in favour of the US dollar,” Randy Smallwood, CEO of Wheaton Precious Metals, said in an interview.

The next Fed rate decision will come on the final day of the Denver Gold Forum. The next moves of the precious metal will be driven by the rate decision along with the bank’s language around inflation and future hikes.

Investors have been fleeing gold of late. Hedge funds and money managers have turned net bearish on the precious metal, according to the latest Commodity Futures Trading Commission data.

Holdings of gold-based exchange-traded funds — a key pillar in pushing bullion prices to record highs in 2020 — have been sliding for four straight months to the end of August. The downward trend has continued into September, with gold ETF holdings down 1% this month.

Still, bullion has held up relatively well, down only 8.4% this year. Its support comes from heightened geopolitical and economic risks. There are concerns that the Fed’s aggressive tightening to fight in stubbornly high inflation may tilt the US economy into recession.

Russia’s ongoing war in Ukraine presents a good case to own gold amid geopolitical risks. And Europe’s ongoing energy crisis and China’s zero-Covid policy also point to a global economic slowdown, which may prompt investors to hold onto gold as a hedge against such uncertainty.

“It’s a defensive asset during a time when there is macroeconomic and geopolitical uncertainty,” Yamana Gold executive chairman Peter Marrone said in a Bloomberg Television interview from the gathering. “China has been in Covid restrictions for a long time,” he added, “as they come out of that, we will see strong prices again.”

Mining Weekly

Zimbabwe official gold buying prices 20 September 2022

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Zimbabwe official gold buying prices 20 September 2022

Fidelity Gold Refinery (FGR) official gold buying prices Tuesday 20 September 2022.

SG 90% AND ABOVE US$50.84/g
SG ABOVE 85% BUT BELOW 90% US$50.04/g
SG ABOVE 80% BUT BELOW 85% US$49.50/g
SG ABOVE 75% BUT BELOW 80% US$48.97/g
SAMPLE BELOW 10g BUT ABOVE 5g US$48.16/g
FIRE ASSAY CASH US$50.84/g

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

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

Zimberly Mine blasting engender elephant turmoil in Hwange

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Zimberly Mine blasting engender elephant turmoil in Hwange

Operations of Zimberly Mine in Hwange have elephants going wild and entering neighbourhoods as they run away from blasting carried out by the mine, Centre for Natural Resource Governance (CNRG) Executive Director Farai Maguwu has said.

According to Maguwu, since the opening of Zimberly Mine, Elephants have been causing havoc in communities near the mine with a recent situation where elephants destroyed a water tank at Lusumbami Primary School.

“Elephants have caused havoc at a Lusumbami Pry School in Hwange and recently destroyed a water tank erected by MP for Hwange, Hon Molokole using CDF funds. Who must take responsibility for replacing the tank and the tank stand?

“Since the opening of Zimberly Mine about 500 metres away, elephants have been entering neighbourhoods as they run away from blasting carried by the mine,” Maguwu said.

Maguwu said the residents have been complaining that houses are now cracking due to blasting by the mining firm.

“Children are now at great risk from these elephants. According to locals houses are cracking due to blasting. Who authorized mining a few metres from a residential area and a school?” Maguwu said.

Mimosa donates learning equipment to School of Mines

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Mimosa donates learning equipment to School of Mines

Mimosa Mining Company has donated learning equipment to the Zimbabwe School of Mines (ZSM).

Rudairo Mapuranga

The midlands-based Platinum Group of Metal (PGM) producer is considered as one of the mines that are critical to the achievement of the US$12 billion mining sector.

“As part of Mimosa’s efforts to develop the skills required in the Zimbabwe mining sector, Mimosa recently donated learning equipment to the Zimbabwe School of Mines’ Department of Geology and Metallurgy. This included four geological microscopes equipped with a camera and digital connectivity to enable online sharing of images by lecturers and students. Mimosa’s donation will enhance the school’s capacity to develop and nurture students and support their journey to become productive members of the mining industry,” the company said.

Through the US$12 billion mining industry, the Artisanal and Small Scale Mining (ASM) sector is expected to professionalise, formalise, regularise and grow from small-scale to medium industry. Mimosa’s efforts to equip the School of Mines with equipment is a great gesture toward the development and growth of the ASM industry.

Recently Zimbabwe Miners Federation (ZMF) Mashonaland West Province Chairperson Mr Timothy Chizuzu urged young graduates from the Zimbabwe School of Mines to form syndicates and acquire mining concessions in the country at the same time seeking government and experienced miners’ help in running those operations.

“There should be a skill exchange program in the sector, all small-scale miners should employ graduates to curb unemployment at the same time exchanging ideas with the youth people hence promoting the growth of small-scale mining to medium scale.

“Young mining graduates should also form syndicates to acquire claims and start mining as professionals,” Chizuzu said.

Platinum Group Metals (PGMs)

Platinum Group Metals (PGMs) are essential and precious metals which include platinum, palladium, rhodium, iridium, osmium, and ruthenium. These metals are known for their purity, high melting points and unique catalytic properties. In addition to their oxidation and reduction properties, they are also extremely resistant to corrosion. PGMs are utilized in a number of industrial processes, technologies and commercial applications. Their unique chemical and physical properties make PGMs an excellent raw material, catalyst and ingredient for manufacturing processes. Consumer and industrial products made with platinum and other PGMs include flat panel monitors, glass fibre, medical tools, computer hard drives, nylon and razors, among others. PGMs play a critical role in autocatalysis and pollution control in the automotive sector. The bulk of global PGMs are mined in Southern Africa and Russia.

Zimplats donates firefighting equipment to a Children’s home

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Zimplats donates firefighting equipment to a Children’s home

As part of its Corporate Social Responsibility (CSR), the country’s biggest Platinum Group of Metal (PGM) producer Zimplats in partnership with Fire-fight Trust recently donated firefighting equipment to Manhinga village Children’s home, an orphanage in Manicaland province.

Rudairo Mapuranga

According to Zimplats’ parent company, South Africa-based Implats, the firefighting equipment included 50 50 fire beaters which were made from used fabric conveyor belts from the mine showing that used equipment can be recycled or reused for other tasks.

“Zimplats, in partnership with Fire-fight Trust, recently donated firefighting equipment to Manhinga village Children’s home, an orphanage in Zimbabwe’s Manicaland province. The firefighting equipment included 50 fire beaters, which were made from used fabric conveyor belts from the mine,” Implats said.

Zimplats has continued to abide by its values of giving back to communities, the company started the year 2022 on a high note by donating to 10 charity organizations to alleviate poverty in its mining communities.

Writing on its Facebook page, said it has embarked on creating affordable housing for its employees.

Zimplats earlier this year partnered with the Mhondoro Ngezi Rural District Council (MNRDC) to construct a COVID-19 isolation centre, with Zimplats donating the furniture and equipment valued at US$43 000.

Since the beginning of the COVID-19 pandemic, Zimplats has demonstrated its core values of respect, care and delivery by donating ventilators, oxygen concentrators, oxygen tanks, disinfectants, sanitisers and knapsack sprayers and surgical masks to 8 hospitals as part of efforts to empower medical institutions.

The company has been instrumental in the fight against Covid-19 in Zimbabwe to help President HE Emmerson Mnangagwa for the country to achieve herd immunity by year-end.

Management of Zimplats has activated a vaccination programme for all employees (including contractors) and their dependents, placing the Group on a firm footing to fight the pandemic in the workplace in the future.

The platinum giant’s operations continue to be under strict adherence to Covid-19 management protocols which were developed in Financial Year 2020 and reviewed throughout the year to respond to changing circumstances.

Invictus given the nod to explore the whole Muzarabani oil fields

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Invictus given the nod to explore the whole Muzarabani oil fields

Invictus Energy has been given the right to explore the whole of Muzarabani oil fields with the company’s acreage now covering the entire conventional oil and gas play fairway in Cabora Bassa Basin.

Rudairo Mapuranga

According to Invictus Managing Director Scott McMillan, the Exploration Licences cover a combined area of approximately 360,000 hectares, with EPOs 1848 and 1849 each covering an area of approximately 130,000 hectares and the current Special Grant 4571 licence area covering a further 100,000 hectares.

“We are extremely pleased to have completed the assignment of the exploration rights which sees our footprint cover the entire conventional oil and gas play fairway in the Cabora Bassa Basin,” he said.

McMillan said, this newly expanded basin master position, combined with the high-quality seismic data acquired in the CB21 Survey, has provided the company with a material portfolio of high potential prospects and leads. He added saying, multiple drill-ready prospects in the newly identified Basin Margin play have been mapped along the southern basin bounding fault, which displays similarities to the East Africa Rift “String of Pearls” that resulted in material discoveries in the Lokichar Basin in Kenya and Albertine Graben in Uganda.

“In relation to our first well Mukuyu-1, the rig maintenance is nearing completion and the final outstanding well services equipment will arrive in the coming days,” McMillan said.

He said, an Independent Prospective Resource estimate for the Basin Margin area including the Baobab prospect is nearing completion and will be released once finalised.

“Following the rig acceptance once the commissioning and testing have been completed it will allow for the spud of Mukuyu-1, the first well in our high-impact exploration campaign which will then be followed by Baobab-1.

“Subject to making an opening discovery with either Mukuyu-1 or Baobab-1, it could potentially provide Invictus with future discoveries on a large scale within the basin.”

Police arrest two for lithium ore smuggling attempt

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Police arrest two for lithium ore smuggling attempt

Two Mutoko men appeared at the Mutoko Magistrates Court on Wednesday charged with attempting to smuggle 40 tonnes of lithium ore out of the country using a South African registered truck.

Livingstone Barnet (32) and Raison Murima (30) were arrested on September 7, 2022 by police at a roadblock. One of the suspects identified as Tapiwa Nyauchi is on the run.

Barnet and Murima appeared before Mutoko magistrate Elijah Sibanda who remanded them out of custody to September 26 on $30 000 bail.

The truck remains at Mutoko police station laden with the ore pending  laboratory tests on the mineral content of the ore.

According to the State outline, the suspects face charges of contravening Section 368 of the Mines and Minerals Act relating to prospecting for any mineral, mineral ore or natural gas without a license or permit.

Allegations are that on September 7, 2022 and at Rukanda business centre, Mutoko, the accused persons were intercepted by police who searched their truck and discovered 40 tons of lithium ore.

The duo revealed that they had extracted the ore from Chishambiro area, in Mudzi. Upon arriving at the ‘mine’ recovered two drill bits, one generator and some shovels.

In court, prosecutor Nathan Mujuru said smuggling of minerals must be viewed as economic sabotage, and must attract a hefty sentence.

“‘Considering that the motor vehicle the accused were using has foreign number plates from South Africa. The smuggling of minerals in this country amounts to economic sabotage that has cost revenue loss and should not be tolerated,’’ Mujuru told the court.

The accused persons had no mining certificates, or any other documents authorising them to remove any mineral from one place to the other.

Newsday

Mines to Energy Park to place Zim amongst Lithium battery producers

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Mines to Energy Park to place Zim amongst Lithium battery producers
The establishment of the country’s first Mines to Energy Park in Mapinga Mashonaland West Province will make Zimbabwe a producer of lithium-ion batteries, President Emmerson Mnangagwa has said.
Rudairo Mapuranga
Speaking at the signing ceremony to approve the proposed Mines to Energy Park by Chinese investors Eagle Canyon International Group Holding Limited and Pacific Goal Investment that will see the processing of metals including graphite, nickel, chrome, lithium, copper and platinum, Mnangagwa said the park will place the country amongst one of the biggest battery producers in the world.
“The Mines to Energy Park will augment my government’s thrust on value addition and beneficiation of minerals as well as bolster the crucial role that mineral value chains in the national industrialisation agenda. The proposed Mines to Energy Park will mark the inception of lithium-ion battery value chain in Zimbabwe. It is set to place Zimbabwe amongst the world producers of lithium-ion batteries while contributing to the growth of a resilient clean global energy economy,” President Mnangagwa said.
Speaking at the same event the country’s Vice President Dr Constantine Chiwenga said the Mines to Energy park is going to make Zimbabwe commit to a clean energy future.
“Since the inception of the Second Republic, Zimbabwe has been the favourite destination for investors from around the world.
 “The mining to energy park is not only going to boost Zimbabwe’s economic growth and development, but it indicates Zimbabwe’s commitment towards clean energy.
“Our country is thus well positioned to capitalise on the significant opportunities presented by the lithium-ion battery era,” VP Chiwenga said.

Zim approves energy park that will fetch over US$13 billion annually

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Zim approves energy park that will fetch over US$13 billion annually
The government of Zimbabwe has approved the country’s first value addition and beneficiation park which on completion fetches an annual revenue of over US$13 billion for the country.
Rudairo Mapuranga
The proposed energy park by a group of Chinese investors, Eagle Canyon International Group Holding Limited and Pacific Goal Investment will process metals including graphite, nickel, chrome, lithium and platinum was given a go-ahead by the Minister of Mines and Mining Development Hon Winston Chitando at a ceremony held at State House which was overseen by the President Mnangagwa on Friday.
According to Eagle Canyon Director Lionel Mhlanga, the multi-billion dollar project will be a world-class project by 2025 and it will fetch the country over US$13 billion annually on completion.
“The park will be Zimbabwe’s centre of value addition and beneficiation of minerals. This multi-billion dollar project on completion will have an annual turnover exceeding over US$13 billion. Phase one of this project will see the construction of two, 300MW thermal power stations together with a nickel sulphate refinery, graphite refinery and a nickel-chrome alloy refinery plant, these plants are expected to be fully operationally by the year 2025,” Mhlanga said.
Mhlanga said, as the world is looking forward to a green future through the creation of clean energy, the Energy Park will help the country benefit from the green energy revolution.
“The World Bank has forecast a 500 per cent increase in demand for minerals and metals needed to deploy wind, solar or geothermal power by the year 2050,” said Mr Mhlanga.
Speaking at the event President Mnangagwa said he was delighted to facilitate and promote the establishment of the first Mines to Energy Park in Mapinga, Mashonaland West Province. He said the country was eager to implement clean energy projects.
“This agreement attests to my Government’s commitment to implement clean energy projects as critical enablers to leapfrog the modernisation and industrialization of Zimbabwe,” he said.
He said the Mines to Energy Park will augment the government’s vision to see the mining sector becoming a US$12 billion industry by 2023.
“The Park will augment my government’s thrust on value addition and beneficiation of minerals as well as bolster the crucial role that mineral value chains play in the national industrialisation agenda. The proposed Mines to Energy Park will mark the inception of the lithium-ion battery value chain in Zimbabwe. It is set to place Zimbabwe amongst the world producers of lithium-ion batteries while contributing to the growth of a resilient clean global energy economy.
The Minister of Mines Hon Winston Chitando said the Mines to Energy Park will be constructed immediately with Engineers already on the ground to kick start the implementation of the project.
“Construction is going to start immediately. Already, the investor has put some engineers which are ready to go on-site and make sure that the project is a reality.
“But more importantly, is the fact that economic development in any country does not happen by chance or by accident, there had to be a vision,” Chitando said.
Speaking to Mining Zimbabwe at the event, Zimbabwe Miners Federation (ZMF) President Ms Henrietta Rushwaya said the project is a game changer for the mining sector in general and the country at large as it will come with many positives for the growth and development of the economy.
“It is regarded as one of the biggest game gamers in Zimbabwe since the formation of the second Republic. Eagle Canyon has come up with a setup which will among other things process graphite, chromium and process various other minerals. The beneficiation of such minerals will go a long way in ensuring that our country gets benefits from the real value of minerals. Eagle Canyon will also generate a lot of electricity. It creates a lot of employment, the creation of employment by the company is indeed welcome by the Zimbabwean mining sector,” Rushwaya said.
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