The Mosi-oa-Tunya gold coins are now on the market. A single Gold coin costs US$1,823.8 OR ZWL$805,745.35.
Reserve Bank of Zimbabwe governor John Panonetsa Mangudya today announced that 2000 coins were disbursed to local banks.
Mangudya said Banks shall not lend for the purpose of buying gold coins. He also said the RBZ will be releasing lower denomination coins with time.
This is a developing story…
Zimbabwe’s mining sector is registering unprecedented growth, for the first time in history.
Earnings jumped to US$5,2 billion in 2021 from about US$2,9 billion in 2017, as positive gains continue to be realised from the Government’s economic reform agenda, President Mnangagwa has said.
Officially opening the 25th edition of the Mining, Engineering and Transport (Mine Entra) Conference in Bulawayo last week at the Zimbabwe International Exhibition Centre, President Mnangagwa rallied industry players to ramp up production and embrace modern technologies to scale up capacity and business competencies in line with global best practice.
Official statistics already indicate that the mining sector is poised to clock US$8 billion in earnings this year, having already surpassed US$6 billion last month.
With such growth being achieved within a few years in the mining sector alone, the President said the stage was now set for the extractive sector to drive the modernisation of the country’s economy through backward and forward linkages that stimulate localised production of the supply chain.
The Government has set an ambitious target for the mining sector to realise a US$12 billion milestone by 2023 and this, despite unforeseen shocks, remains certain, judging by the continued momentum across key sub-sectors, and the newly commissioned signature projects covering different mineral segments.
These include the expansion of Zimplats and Unki Mines, the re-opening of Eureka Gold Mine, Shamva Gold Mine, Rio-Zim Cam and Motor Biox Gold Plant Expansion Project, Radnor Mine, and most recently, the Sinomine Bikita Minerals Lithium project, among others.
Source: af24news
Caledonia Mining Corporation Plc. has agreed to buy one of Zimbabwe’s biggest gold mining projects as it seeks to expand in the southern African country.
Jersey-based Caledonia will buy Bilboes Gold for about $53.3 million in shares, plus a royalty on revenues, it said in a statement on Thursday. The purchase could make Caledonia Zimbabwe’s biggest gold producer, with the potential to more than double its annual output to over 200 000 ounces.
“We are delighted to have signed an agreement for the purchase of Bilboes, the premier gold development project in Zimbabwe, and indeed one of the best gold development projects in Africa,” Caledonia Chief Executive Officer Mark Learmonth said in the statement.
Bilboes, which owns the Isabella-McCays-Bubi mines in northwest Zimbabwe, can potentially produce about 168 000 ounces of gold, Caledonia said. The operations have been mothballed as the company’s owners searched for new investors and Caledonia will conduct further studies to determine the “most judicious way” to exploit the deposit, it said.
Caledonia, which has Cape Town-based fund manager Allan Gray as one of its biggest shareholder, already operates the Blanket mine in the southwest of Zimbabwe.
The need to see local equipment and consumable manufacturing growing to satisfy the ever-rising mining industry highlighted Mine Entra’s official opening conference.
Rudairo Mapuranga
This year’s Mining Engineering and Transport Expo (Mine Entra) which ran under the theme Explore, Extract, Expand towards sustainable mining value chains was officially opened by President Emmerson Dambudzo Mnangagwa who emphasized the need for manufacturing of mining equipment and consumables.
Mnangagwa said the continued exportation of consumables and equipment should be a thing of the past.
“Riding on the increased capacity utilisation of the various mining houses, there is no excuse for the continued importation of mining consumables and related accessories such as balls mill and conveyer belts, among others. I challenge the Suppliers Committee to work closely with government and suppliers to ensure the local production of quality and competitively priced products, in line with Buy Zimbabwe, Made in Zimbabwe, Build Zimbabwe initiative,” President Mnangagwa said.
Speaking at the same conference, Chamber of Mines President Mr Collin Chibafa said the country was exporting its much-needed foreign currency due to buying equipment manufactured in other countries.
“We are exporting jobs, we are exporting the foreign currency that we don’t have and this is an attainable situation. My advice to suppliers, miners are price takers our customers determine the prices of the goods that we sell. Therefore, we cannot afford a more than 100 per cent increase of prices in USD terms that we have seen in the recent past. Let us seek to manufacture locally, let us price reasonably,” Chibafa said.
Speaking to Mining Zimbabwe on the sidelines of the event, the Minister of Mines and Mining Development Hon Winston Chitando said the conference emphasises the need to see mining equipment and consumables being sourced locally for the country to fully benefit from Mining revenue.
“The event has gone well very well, the main emphasis was to see how local suppliers can take advantage of opportunities which are in the mining industry. NDS_1 emphasises on upwards and downward integration and here particularly it’s upward integration we want to ensure that as many goods and services are sourced locally,” Chitando said.
Parliamentary Portfolio Committee on Mines and Mining Development chairperson Hon Edmond Mkaratigwa said the country should strive to see the manufacturing of consumables and equipment.
“I’m hoping in the near future to see an improvement ownership of manufacturing entities or at least some innovation around equipment and consumables that are necessary for the mining sector,” Hon Mkaratigwa said.
Zimbabwe’s biggest mining expo Mine Entra kicked off yesterday at the Zimbabwe International Trade Fair (ZITF) in Bulawayo.
After two years of hiatus, the iconic event roared to life with the country’s equipment suppliers and different service providers taking up every square inch of available exhibition space.
According to ZITF company chairperson, Busisa Moyo, 5,474 square metres of exhibition space has been booked this year. Some of the exhibitors are from China, South Africa and the United Kingdom.
This year‘s expo is running under the theme – Vision 2023: Opportunities for Expansion, Exploration and Investment.
President Emmerson Mnangagwa is set to officially open the mining expo today.
Analysts and mining experts place a lot of emphasis on active participation in Mine Entra as the event brings a new refreshed look at products and services in the market. It is a platform for new innovations and developments within the Mining industry. By visiting the exhibition one gets a good idea about what is trending in the Mining business.
Mining Zimbabwe is exhibiting at Mine Entra and distributing the July 2022 issue at the event. This issue provides the reader with leading equipment and service providers servicing the Mining Industry. The issue also has a critical interview with the man looking out for public interests in the Mining Industry of Zimbabwe, Hon Edmond Mkaratigwa. We grilled Mkaratigwa, who is the Chairman of the Portfolio Committee on Mines and Mining Development on the pressing issues in the Zimbabwe Mining Industry.
Mining Zimbabwe also guarantees every attendant a free Magazine at its stand in Hall four by the second entrance.
In the issue, we also interviewed the President of the Chamber of Mines of Zimbabwe President Mr Colin Chibafa a man who has served the Mining Industry for the past 20 years.
Other industry heavyweights who graced the occasion include Deputy Minister of Mines and Mining Development Hon Polite Kambamura, Fidelity Gold Refiners (FGR) General Manager Mr Peter Magaramombe, FGR’s Mr Matthew Chidavaenzi, ZMF Secretary general Morgan Mugawu among others.
For over two decades, the Mine-Entra exhibition has grown and evolved into a one-stop shop for market intelligence, image building, networking and business development for the represented industries.
International exhibitors in the exhibition have come from The People’s Republic of China, Germany and South Africa in past Mine-Entra editions, with the majority of local participation hailing from Harare and Bulawayo.
The product mix is varied, including heavy engineering, equipment, conveyors, pumps and rubber products, construction, transport, insurance services and protective wear. External sites showcase earth-moving equipment, automotive displays and heavy engineering.
The Zimbabwe Republic Police (ZRP) since January this year have arrested 29 887 people under operation no to machete gangs. The operation is meant to restore sanity in the Artisanal and small-scale mining (ASM) sector.
Anerudo Mapuranga
“Police arrested 128 people under the operation, “No to machete gangs.” The cumulative arrests since January this year stand at 29 887,” the ZRP said in a statement.
Illegal Miners are mostly an easy target of criminals usually referred to as machete gangs who have been causing havoc in the ASM sector.
According to Police spokesperson Asst-Comm Paul Nyathi, the operation is ongoing and they have covered all the provinces and those that resist risk being arrested and face deterrent sentences as the police are in constant contact with the judiciary.
Machete-wielding criminals are notorious for pouncing on small-scale and artisanal miners stealing the latter’s gold or gold ore. The stolen gold is usually smuggled to neighbouring countries like South Africa and Botswana through the country’s porous borders.
The Zimbabwe Miners Federation (ZMF) has once again called on miners to formalize their operations by adhering to the dictates of the law to avoid a situation where work is constantly being disrupted by law enforcement agents.
According to ZMF President Ms Henrietta Rushwaya, the Federation has a zero-tolerance mantra of no to illegal mining. She said that the organisation’s offices are open for everyone to come and get mining investment advice.
“As small-scale miners, we are saying it is a crime to mine illegally in the country. And we are saying zero tolerance to illegal mining. We should be seen as being associated with constructive and proper mining, constructive in the sense that our mining should be guided by principles as stated in the Mines and Minerals Act. People are advised and allowed to come to our ZMF offices to find out how best they can be linked with proper mining houses and how best they get tributes from other registered miners,” Rushwaya said.
Gwanda Community Share Ownership Trust (GCSOT) has received a dividend of over US$300 000 from Blanket Mine, credit to the indigenisation and empowerment act which ensured that all communities benefit from business activities happening in their areas.
Rudairo Mapuranga
According to Caledonia Mining Corporation CEO Mark Learmonth, a dividend payment of US$360,000 has been paid to GCSOT from Blanket mine.
In 2012, Caledonia facilitated the ownership of 51 per cent of Blanket by Indigenous Zimbabweans in accordance with the prevailing legislation at that time. This included a 10 per cent ownership by the local community via GCSOT. In 2020, following changes in legislation, Caledonia increased its shareholding in Blanket to 64 per cent, but GCSOT retained its 10 per cent ownership.
In 2012 and 2013 Blanket made advance dividend payments to GCSOT totalling $4 million so that GCSOT had funds to establish its operations. GCSOT repaid the advance dividends by sacrificing its entitlement to future dividends. Initially, GCSOT sacrificed 100 per cent of its dividend entitlement, which was subsequently reduced to 80 per cent. The outstanding balance of the advance dividend account at June 30, 2021 (being the most recent reporting date) was $0.2 million.
On September 29, 2021, Blanket paid a dividend following which the advance dividend account has been completely repaid.
Henceforth, GCSOT, one of the indigenous shareholders, will receive its full entitlement to 10 per cent of Blanket’s dividends.
Commenting on the announcement, Mark Learmonth, Caledonia’s Chief Executive Officer, said:
“In October 2021, Blanket Mine announced that the advance dividend loan had been repaid and going forward GCSOT would receive its full entitlement of 10 per cent of dividends paid by Blanket Mine.
“With investment in our local communities and employees being at the heart of our business, I am delighted that this dividend has now been paid.”
London Stock Exchange listed mining and exploration junior Premier African Minerals has recorded impressive assay results at its Zulu Lithium and Tantalum Project in Fort Rixon, company CEO George Roach said.
Rudairo Mapuranga
Roach said tantalum and rubidium presence remains prevalent in the project with the result giving confidence to the miner to support its pilot project concept.
” The results set out below are again impressive. Notable is the continued pervasive Tantalum and Rubidium presence. The results reported on are from boreholes within the existing resource area and are part of the ongoing programme that is intended to upgrade confidence in the original resource estimate from an inferred level to an indicated level.
“At the same time, we have reviewed all the previous work done prior to January 2022 and adjusted the geological model as indicated. The work to date has provided the level of confidence we needed internally to support the pilot plant concept as recently announced. In fact, what we are now understanding about the Zulu deposit is entirely complementary to the use of sensor-based ore sorting and in time is likely to result in a most efficient and effective process.
“It should be noted that these results are all confined within the original claims area. The deposit remains open on strike in both directions and at depth.” Roach said.
Table 1 – Assay Summary Results
| Hole | From (m) | To (m) | Width* (m) | Li2O%** | Ta2O5 ppm | Rb ppm |
| ZDD033
| 86.15
| 90.15
| 4.00
| 1.03
| 57
| 2702
|
| Restated | ||||||
| Incl. | 86.15
| 88.15
| 2.00
| 1.30
| 43
| 1231
|
| ZDD034
| 71.82
| 81.82
| 10.00
| 1.84
| 59
| 1518
|
| Incl. | 71.82
| 73.82
| 2.00
| 1.92
| 90
| 1890
|
| Incl. | 76.82
| 81.82
| 5.00
| 2.35
| 54
| 1172
|
| ZDD034
| 84.82
| 97.88
| 13.06
| 1.73
| 83
| 2455
|
| Incl. | 85.82
| 89.82
| 4.00
| 2.29
| 119
| 1471
|
| Incl. | 91.82
| 92.82
| 1.00
| 2.03
|
| 2917
|
| ZDD034
| 142.28
| 149.28
| 7.00
| 1.05
| 270
| 271
|
| Incl. | 143.28
| 144.28
| 1.00
| 1.71
| 112
| 1796
|
| Incl. | 145.28
| 147.28
| 2.00
| 1.31
| 222
| 17
|
| ZDD034
| 153.81
| 156.55
| 2.74
| 1.67
| 264
| 315
|
| ZDD035R
| 45.45
| 57.3
| 11.85
| 1.38
| 95
| 994
|
| Incl. | 45.45
| 54.45
| 9.00
| 1.60
| 85
| 996
|
| New | ||||||
| ZDD036
| 22.38
| 44.3
| 21.92
| 1.11
| 204
| 3733
|
| Incl. | 23.38
| 28.38
| 5.00
| 1.44
| 243
| 5572
|
| Incl. | 32.38
| 36.38
| 4.00
| 1.88
| 125
| 2419
|
| ZDD052
| 47.32 | 49.32 | 2.00 | 1.39
| 37
| 1369
|
| Incl. | 48.32
| 49.32
| 1.00
| 2.01
| 26
| 1116
|
| ZDD052 | 51.32 | 56.32 | 5.00 | 1.04 | 59 | 2003
|
| Incl. | 51.32
| 53.32
| 2.00
| 1.53
| 55
| 1939
|
| ZDD060
| 52.18
| 56.73
| 4.55
| 0.82
| 223
| 36
|
| Incl. | 53.18
| 54.18
| 1.00
| 1.35
| 105
| 1388
|
*Not True Width but lineal width
Victoria Falls Stock Exchange-listed gold-focused miner, Caledonia Mining Corporation has recorded a record 569.6 kgs of gold during the quarter ended June 30, 2022, a 20 per cent increase compared to the same quarter last year.
Rudairo Mapuranga
The company which is confident of achieving its target production guidance of between 73 000 ounces and 80 000oz this year on account of sustained strong production at its sole mine, Blanket mine recorded an approximately 29 per cent increase during the first half of the year.
Gold produced for the first half of 2022 was 38,606 ounces from the 29,907 ounces produced in the first half of 2021.
According to Caledonia Chief Operating Officer Dana Roets, the company’s gold production for 2022 is expected to be between 73,000 – 80,000 ounces with the first-year performance exceptional.
“Production in the first half of 2022 was excellent and exceeded our expectations. Production excludes an estimate of approximately 1,500 ounces of recoverable gold included in an ore stockpile which will be processed after the commissioning of additional milling capacity in the next few weeks.
“We have now achieved our quarterly target of 20,000 ounces and are on track to hit our annual production target of between 73,000 – 80,000 ounces of gold,” Roets said.
Victoria Falls Stock Exchange (VFEX) listed nickel mining giant, Bindura Nickel Corporation (BNC) has reached a record 3.1 million fatality-free shifts, all thanks to the company’s resilience in achieving zero harm.
Rudairo Mapuranga
During the year ended 31 March 2022, in terms of safety, health and environment (SHE) the nickel mining giant recorded zero fatalities, two Lost Time Injuries recorded and a new record of 3.1 million fatality-free shifts achieved as at 31 March 2022.
“There was an improvement in the Company’s safety performance during the year, with two Lost Time Injuries recorded compared to five for the previous year.
“The Company achieved a new record of 3.1 million fatality-free shifts by 31 March 2022, the last fatality having been recorded in June 2015. Safety remains a priority for the Board and Management, given the inherently hazardous nature of mining operations.
“The Company has a zero-tolerance policy towards injuries in the workplace. Safety, Health and Environmental (SHE) systems are continually being upgraded and improved to enhance performance. The main area of focus continues to be on instituting and deepening the desired safety culture in order to prevent accidents, in line with the Company’s Zero Harm policy.
“The Company continues to comply with all applicable environmental legislation and remains ISO 14001:2015 and ISO 45001:2018 certified,” the company said.
The nickel mining group also recorded zero COVID-19-related deaths during the year with all employees fully vaccinated against COVID-19 during the year.
“In consonance with the overall national situation, the threat posed by COVID-19 has declined considerably, with the Company ending the year with the pandemic under control. All company employees were fully vaccinated during the year and no COVID-19-related deaths were recorded. The company has however continued with preventative measures and control programmes to ensure the pandemic remains under control,” The group said.
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