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Mine Entra gathers momentum

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Mine Entra gathers momentum

Zimbabwe’s biggest Mining, Transport and Engineering Expo’s (Mine Entra) preparations have gathered momentum with 115 exhibitors having booked for the exhibition which will take place later this month.

Rudairo Mapuranga

The country’s largest international mining exhibition has already attracted exhibitors from China, South Africa and the United Kingdom.

Zimbabwe International Trade Fair (ZITF) the organizers of the Expo’s Chief Executive Officer Mr  Nicholas Ndebele said the organisation was working tirelessly to make the expo a world-class event. He said the Minister of Mines and Mining Development has already been approached to attend the stellar event.

 “The executive team has been engaged in a series of high-level stakeholder engagements in preparation for the Silver Jubilee edition of Mine Entra. We met the Mines and Mining Development Minister, Winston Chitando,” Ndebele said.

The exhibition will run from July 20 to 22 under the theme Explore. Extract. Expand: Towards Sustainable Mining Value Chains, highlighting the role of the exhibition as a conduit for creating platforms for dialogue and engagement for mining industry stakeholders.

The President of Zimbabwe HE Emmerson Mnangagwa is set to officiate at the Mine Entra conference as well as the official opening ceremony to be held on July 21.

Meanwhile, the country’s largest body representing the artisanal and small-scale mining (ASM) sector Zimbabwe Miners Federation (ZMF) has invited mining stakeholders from the country and abroad to exhibit in the specialized small to medium-scale mining Exhibition Hall at Mine Entra.

According to ZMF CEO Mr Wellington Takavarasha, the Federation is offering this unique opportunity with packages that cater to businesses intending to make breakthroughs into the small to medium mining sector.

“With major decision-makers from the public and private sectors attending the event from Zimbabwe and surrounding countries, you are guaranteed to reach a wide range of targeted audience from the mining sector.’

“The Zimbabwe Miners Federation (ZMF) will, from this year, be hosting small to medium scale miners exhibitors in Hall no 5 at ZITF. We are therefore cordially inviting you to attend, exhibit and participate in Hall 5 under the ZMF Flagship.

“This hall will afford you and your organisation a rare but significant opportunity to interact with serious players and stakeholders within the mining industry. We have also created private meeting rooms and conferences which will be held concurrently with the exhibition. This will result in a hive of activity for the small-medium scale miners, service providers and government arms attending.

“We are offering an early-bird 10% discount for bookings and payments made before the 10th of July 2022

 “In addition, an exhibitor will get FIRST annual subscription membership to the Zimbabwe Miners Federation which includes positioning and mentioning on the ZMF website and access to the ZMF Miners database and preferential consideration to all ZMF events, nationally.

 “Plus, the exhibitor will get the opportunity to be ONE of only 10 stakeholders invited to participate in the Zimbabwe Miners Federation Equipment Outreach Show that will take place over the course of the next 3 months.

“ZMF will be touring the 8 mining provinces of Zimbabwe and offering a variety of packages to the small to medium scale miners comprising of start-up to semi-advanced mining equipment to be distributed on lease hire purchase scheme.

“It is ZMF’s premium conference and exhibition that will assemble key representatives from the local and regional mining industry along with regional business leaders to network and delve into strategic conversations.

“It will provide the largest of its kind opportunity for participants to identify and capitalize on huge business opportunities available in Zimbabwe’s rich mining sector.

“Featuring a massive exhibition space and continent oriented conference, this event will position itself as Zimbabwe’s flagship mining business and informative event by hosting 3 days of critical deliberations, latest product demonstrations, critical knowledge sharing, quality business meetings with influential mining and related Ministries and industry bigwigs.

“Over 3 000 miners drawn from across all the 8 Mining Provinces of Zimbabwe will attend this event and this will enable exhibitors to position themselves within the context of the mining market against the backdrop of the event.

“This event provides an opportunity for exhibitors to collect invaluable market data and contacts to better position their brands and acquire feedback from the industry elite.

African Chrome Fields revives US$40m project

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African Chrome Fields revives US$40m project

AFRICAN Chrome Fields (ACF), one of Zimbabwe’s biggest chrome miners, has revived the construction of its multi-million dollar aluminothermic plant, which had been frustrated by Covid-19 pandemic-induced lockdowns.

Tinashe Makichi

The project, which officials say will change Zimbabwe’s chrome beneficiation landscape, riding on the deployment of advanced technologies, is expected to be fully operational before the end of the year.

A visit by local publication businessdigest to ACF’s operations in Midlands revealed that contractors were back.

Officials said the project was expected to further increase the company’s range of products and boost employment across its operations.

The technologically-advanced plant will initially produce 300 tonnes of ultra-low carbon high grade ferrochrome per month, before doubling production to 600t when it reaches full capacity.

The production process will increase the economic value of the high-grade chromite ore by removing large quantities of gangue minerals, resulting in a higher grade ferrochrome with minimum impurities.

ACF mine manager Mark Beukes said efforts were underway to resume initial production as early as possible.

“This project was supposed to be up and running but the issue of Covid-19 affected a number of projects across the mining sector,” Beukes said. “So we have revived this project and as you can see all the equipment is on site and our engineers are working flat out to make this dream a reality.

“We believe this project has the capacity to change the chrome beneficiation landscape considering that this project is environmentally friendly and is not power intensive. This is all chemical reaction but the end product is of premium quality. This is a first of its kind in Africa and southern Africa to be specific.

“The project required between US$40 million and US$100 million to be fully complete and this has been expended and we are optimistic of the prospects of operationalising it. This project is a game changer,” he added.

The process used by the aluminothermic plant requires no electricity and gives ACF the opportunity to increase the economic value of the chromite it mines by way of beneficiation which will see the miner becoming a ferrochrome exporter.

ACF, which is a mining unit under the Moti group, will double its production by 100% to 20 000t of chrome in the next two months from the current 10 000t as the diversified mining group targets a blitzkrieg in mineral production.

The mining company is targeting a massive revamp in mineral production at its Zimbabwean mining operations, which were affected by the two-year ravages of the Covid-19 pandemic.

Many governments around the world, including Zimbabwe, were forced into mandatory lockdowns that severely limited the movement of people in an effort to curb the spread of the disease.

Currently, the miner is operating four processing plants out of seven and there are heightened efforts to open plant Number 6, which is also the biggest in terms of capacity. That will see the company boosting its production to record levels.

In an attempt to meet the challenges of Covid-19, ACF was forced to rationalise its operations during 2020.

Towards the end of 2021, ACF was operating three of its seven sites but there has been a massive improvement following capital injection.

The diversified miner is also targeting other mining opportunities in lithium, platinum group metals and gold in Zimbabwe.

Gold coins: while some say its a milestone, financial expert foresees disaster

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Gold coins: while some say its a milestone, financial expert foresees disaster

On the 27th of June 2022, the finance ministry announced that Zimbabwe was introducing Gold coins saying it was a more stable and a much more trustworthy way to store value.

After posting the topical story our website received a whopping 315,041 impressions breaking previous records.

Reserve Bank governor said gold coins will be introduced into the market as an instrument that will enable investors to store value.

“The MPC resolved to introduce gold coins into the market as an instrument that will enable investors to store value. The gold coins will be minted by Fidelity Gold Refineries (Private) Limited and will be sold to the public through normal banking channels,” Mangudya said.

He said that the MPC had expressed great concern over the recent rise in inflation, which increased to 30.7 per cent on a month-on-month basis for June 2022, thereby increasing the year-on-year inflation for June to 191.6 per cent.

“The committee noted that the increase in inflation was undermining consumer demand and confidence and that, if not controlled, it would reverse the significant economic gains achieved over the past two years,” he said.

In that regard, the MPC resolved to put in place measures to align the interest rates with the inflation developments and enhance the circulation of foreign exchange, on top of the introduction of gold coins.

What are gold coins

A gold coin is a coin that is made mostly or entirely of gold. Most gold coins minted since 1800 are 90–92% gold (22 karat), while most of today’s gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo. Alloyed gold coins, like the American Gold Eagle and South African Krugerrand, are typically 91.7% gold by weight, with the remainder being silver and copper.

Reaction

Mines and Mining Development Minister

Mines and Mining Development Minister Winston Chitando said the Reserve Bank of Zimbabwe (RBZ)’s initiative to introduce gold coins was a milestone for Zimbabweans to invest and save their currency using the precious metal.

“What it means is it gives the ability to the Zimbabwean population to be able to invest in gold.

“If someone has some cash, one of the instructions that he or she can consider is gold coins. The gold coin is very interchangeable and very easy to market.

“You can buy and sell it so it is much easier. We are always traditional in terms of saving looked at in the financial sector which is the savings account, and current account in the entire stock market but right now you could go to coins.

“It gives the ability for Zimbabweans to be able to invest in gold. It is a very key achievement,” the Minister said.

@miningzimbabwe

Mines Minister says ma gold coins ndizvo

♬ original sound – MiningZimbabwe

Lyman Mlambo – Mining Expert

According to top mining expert, mineral economist and former Chairman of the Institute of Mining Research at the University of Zimbabwe Mr Lyman Mlambo, the introduction of gold coins will be a better alternative for holding assets in the country’s high inflationary period.

“This is quite an interesting phenomenon. The Bond Notes themselves, as a legal tender (money), also play the function of store of value, besides being a medium of exchange, unit of accounts and means for settling debts. However, the problem with Fiat money is that it is an elastic store of value (because of inflation) and hence cannot preserve the asset value in times of inflation or economic uncertainty. That’s where gold coins make a difference because they have intrinsic value (gold is a commodity in itself). That indeed makes it a far better store of value than Bond Notes, even better than hard currency (US$, etc) because in times of global crisis or uncertainty asset holders prefer gold to US$. Thus, the coins certainly will be a better alternative to holding assets in these inflationary times,” Mlambo said.

Financial Expert – Tinashe Murapata

Popular financial expert Tinashe Murapata who describes himself as an Entrepreneur with a deep interest in Economics and an even deeper interest in Zimbabwe foresees disaster with the gold coins’ move.

Speaking on his twitter account Murapata said Gold miners will be forced to accept ZWL or local nostro USD soon, as the Reserve Bank doesn’t have reserves to sell gold to Zimbabweans.

“Gold miners will be forced to accept ZWL or local nostro USD. Worse, they’ll not have USD to import chemicals. The ZWL rate will be worse as the usual suspects get more ZWL to buy gold”.

“RBZ doesn’t have reserves to sell gold to Zimbabweans. Every gold export has been very useful in importing products. The common man, even under Keynesian thought will not keep gold coins. It’s the speculator with access to ZWL , local nostro or subsidized USD who will hoard”.

“It’s as if GOZ has forgotten a time when gold production fell to 4tonne in a year. Pricing distortions eventually affect the supply side. This isn’t rocket science. I can’t imagine anyone from RBZ coming up with such a hare brained idea.

“It hasn’t been well thought out. Once the first coins are minted, unless there is a steady supply those coins must appreciate in value given limited supply. Hence why it’s a Ponzi scheme. To increase the supply of the coins means forcing gold producers to accept ZWL,” Murapata said.

Mining sector to receive 500million Euros worth of mining projects from JV

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Mining sector to receive 500million Euros worth of mining projects from JV

Zimbabwe Mining Sector will receive 500 million Euros worth of mining projects as S J Global Investments Hong Kong signs a joint venture agreement with Unlimited Explorations Private limited.

As a major milestone in the history of the mining industry in Zimbabwe, S J Global Investments Hong Kong signed a joint venture agreement with the local company Unlimited Explorations Pvt Ltd. This joint venture agreement comes as an initiative to jointly execute projects worth 500 million Euros.

S J Global Investments is a leading private investment company with significant assets under management and a diverse client base. With head offices in London and Dubai, it works with companies across the globe providing project financing where possible and restructuring and professional services.

Unlimited Explorations Pvt Ltd is part of the diversified group Unlimited Africa Holdings, that also has interests in energy, agriculture and manufacturing, which as a result will develop mining assets from green fields and brownfields into fully-fledged mines.

This strategic partnership will also benefit the Zimbabwe economy as it will focus on exploring and extracting gold along with other minerals like chrome, lithium, platinum and tantalite to name a few.

Neil Walsh, Group Managing Director, S J Global Investments said, “With this strategic venture, Unlimited Explorations Pvt Ltd will help unlock the vast natural resources of the country, contributing to its major economic growth. Africa Holdings is the bridge between the government and global investment partners”.

Walsh added, “With our head office in Dubai, wherein we focus on commodity trading, trade finance, project finance and company formation, we are proud of our Hong Kong office’s collaboration with the Zimbabwe mining sector as it will help us to expand our investment portfolio and we are committed to all our endeavours and the success of our business is aligned to the success of our clients. Our goal is to leave an unparalleled legacy on the world which will bring prosperity to future generations. “

Source: gulfnews

Premier African Minerals Limited: Zulu Assay Results Update

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Premier African Minerals Limited: Zulu Assay Results Update

Premier African Minerals Limited, is pleased to report on assay results at Premier’s Zulu Lithium and Tantalum Project (“Zulu”).

Highlights:

·    Multiple wide high-grade zones intersected

·    Early QXRD data confirms Spodumene as dominant Lithium mineral

George Roach, CEO commented, “The detailed results set out below are impressive. Similarly, the early QXRD work confirms our view that the Zulu deposit is predominately spodumene. Notable is the 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, adjusted the geological model as indicated and we are in the process of revalidating many of the previously obtained assay results. 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 is worth noting that these results below are likely indicative of more than 2,000 outstanding assays now starting to come through. To date since the commencement of the DFS programme, we have completed 82 holes and 18,466 m. Much of the recent drilling has been at close-spaced centres of approximately 50 m and it is this intensity that supports our confidence in this section of the resource. 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. The initial QXRD results have highlighted the value of this work providing a better description of the pegmatites and will contribute to future grade control in the pilot plant phase of the Zulu development”.

Drill Holes: Lithium & Tantalum Results

The table below sets out the independent external laboratory analyses for holes ZDD063, ZDD067, ZDD068, ZDD070, ZDD072, ZDD076, ZDD077, ZDD078 and ZDD079.

Table 1 – Assay Summary Results

Hole

From (m)

To (m)

Width* (m)

Li2O%**

Ta2O5 ppm

Rb ppm

ZDD063

54.60

61.56

6.96

1.01

42

2349

Incl.

57.60

 

58.60

 

1

1.97

24

439

 

ZDD067

86.57

93.47

6.90

1.83

152

1510

Incl.

88.00

 

93.00

 

5.00

2.40

 

49

 

1198

 

ZDD067

101.02

114.86

13.84

0.76

76

1247

Incl.

104.83

 

106.67

 

1.84

 

1.57

 

108

 

2175

 

ZDD068

105.36

107.57

2.21

0.82

149

3063

ZDD068

123.47

130.95

7.48

0.83

88

1649

Incl.

123.47

 

125.47

 

2.00

1.24

 

67

 

1476

 

ZDD068

153.29

155.29

2.00

1.30

152

940

ZDD070

 

77.93

 

87.45

 

9.52

 

1.54

 

60

 

5294

 

Incl.

79.93

 

85.93

 

6.00

 

1.79

 

48

 

5460

 

ZDD070

 

102.95

 

106.93

 

3.98

 

1.23

 

104

 

1462

 

Incl.

105.23

 

106.23

 

1.00

2.08

 

61

 

1043

 

ZDD070

 

117.15

 

122.20

 

2.42

 

1.32

 

91

 

3822

 

Incl.

117.15

 

118.15

 

1.00

1.81

 

52

 

2223

 

ZDD072

137.20

139.38

2.18

1.32

120

1195

ZDD072

142.43

146.77

4.00

1.75

101

2549

Incl.

144.43

 

143.43

 

1.00

2.03

 

61.1721

 

1172

 

ZDD076

87.80

105.42

17.62

1.39

30

2818

Incl.

87.8

 

91.8

 

4.00

 

1.86

 

32

 

3112

 

Incl.

94.94

 

96.7

 

1.76

1.51

 

21

 

1829

 

Incl.

99.47

 

102.47

 

3.00

2.15

 

20

 

2582

 

Incl.

103.47

 

104.47

 

1.00

 

1.73

 

31

 

2331

 

ZDD076

113.18

130.24

17.06

1.27

21

2439

Incl.

113.18

 

114.18

 

1.00

1.54

 

37

 

3138

 

Incl.

114.96

 

116.96

 

2.00

2.02

 

27

 

1973

 

Incl.

121.96

 

122.96

 

1.00

1.62

 

16

 

2540

 

Incl.

124.96

 

129.96

 

5.00

1.91

 

14

 

2126

 

ZDD076

132.80

137.56

4.76

1.43

42

2318

Incl.

133.8

 

136.3

 

2.50

 

1.94

 

21

 

2397

 

ZDD077

92.10

98.90

6.80

1.15

25

***

Incl.

96.50

 

98.90

 

2.40

 

2.16

 

16

 

***

 

ZDD078

47.26

66.92

19.66

1.68

59

4764

Incl.

55.26

 

62.26

 

8.00

 

2.04

 

50

 

4853

 

ZDD079

 

89.19

97.84

8.65

1.19

50

4371

Incl.

90.19

 

95.19

 

5.00

 

1.54

 

52

 

4316

 

*Not True Width but lineal width

**0.50% Li2O cut-off applied.

***Check analyses of Rb awaited.

The following compositing routine was applied:

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

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

·    Within any composite >2m thickness, high-grade intersections of 1m are reported; 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.

With the application of the above compositing routine, it has become evident that many of the thicker pegmatites are zoned from a lithium perspective, often with a high-grade core and weaker mineralised rims. It is further noted that the weaker mineralised rims are often carrying the higher grades of both tantalum and rubidium where the rubidium is associated with the occurrence of lepidolites.

In cases where pegmatites are <2m thick or grades are below the cut-off, the tantalum and rubidium values are still present and remain of value and significant to the overall Resource.

QXRD Test Work – Table 2

A 35-sample test QXRD programme has demonstrated from a range of different pegmatite samples, the value of this analytical technique in quantifying the percentages of the lithium bearing minerals within any pegmatite sample and its value to core logging of complete pegmatite intersections, verification of analytical results. The results have confirmed that a systematic programme of QXRD analysis will be valuable in both the upcoming Resource Estimate, grade control in the future test pit and pilot test plant.

From the test programme, in samples with Li2O >1%, the ratio of the spodumene: petalite: lepidolite is 56:13:31. It is anticipated that a broader, more systematic programme of QXRD analysis will confirm these ratios.

Percentages of Mineral Assemblage

Hole ID

From (m)

To (m)

Spodu-mene

Petalite

Lepid-olite

Quartz

Plagioclase

Micro-cline

Clays

Chlo-rite

Li2O%

Ta2O5 ppm

Rb_ppm

GT-NP-03

112.3

112.4

47.6

0

0.9

44.1

3.5

0.7

3.3

0

5.68

29

129

GT-NP-03

112.8

112.9

0

0

16.9

72.7

8.4

0.7

0

1.3

0.20

14

723

GT-NP-03

127.9

127.9

7.8

0.4

2

24.4

17.9

47.5

0

0

1.72

108

2650

GT-NP-03

138.9

139.0

0

1.5

7.9

47

42

1.6

0

0

0.50

38

2098

GT-NP-03

139.5

139.5

6

30.8

17.7

38.7

5.3

1.5

0

0

3.32

14

2388

GT-NP-03

146.3

146.4

1.1

0.2

27.3

35.1

36

0.4

0

0

2.45

43

5589

GT-NP-03

166.3

166.4

0

1.1

9.5

36

52.7

0.6

0

0

0.67

40

1908

GT-NP-03

167.1

167.2

0

0

30.1

57.5

10.1

0.9

0

1.3

0.81

14

2009

GT-NP-03

172.6

172.6

23

3.9

8.9

45.7

18

0.5

0

0

3.33

24

1935

GT-SP-01

69.7

69.7

19.3

0.7

2.5

44.9

31.3

1.1

0

0.2

1.19

99

597

GT-SP-01

74.7

74.8

7.3

18.7

6.8

32.3

30.5

1.2

3.2

0

0.89

165

729

GT-SP-01

76.6

76.6

0.6

1.1

27.2

49.3

20.9

0.8

0

0

0.40

11

1448

GT-SP-02

134.9

134.9

35.7

0.1

1.8

47.4

14.4

0.5

0

0

3.76

18

1029

GT-SP-02

136.0

136.1

8.9

0.3

5.2

57.7

27.4

0.6

0

0

1.16

32

1130

GT-SP-02

146.4

146.4

39.2

0.1

2.5

47

10.5

0.6

0

0

3.72

38

994

GT-SP-02

152.2

152.2

4.1

0.4

9.5

44.8

39.5

1.6

0

0

0.40

106

1490

GT-SP-03

82.3

82.3

0.8

11.2

0.6

6.2

12.8

68.4

0

0

1.16

22

3371

GT-SP-03

87.5

87.6

55.4

0.3

1.8

30.5

11.4

0.2

0

0.3

3.15

47

969

GT-SP-03

85.5

85.5

10.7

39.1

6.1

25.1

17.8

1.2

0

0

2.96

60

1384

GT-SP-03

103.9

104.0

19.9

1.1

6.7

33.2

38.6

0.5

0

0

1.84

49

486

GT-SP-03

103.4

103.5

35.8

0.1

0.6

38.7

24.5

0.3

0

0

2.60

35

464

GT-SP-04

51.2

51.3

0

0.7

15.1

0.8

0.8

0.9

0

81.6

0.83

233

2973

GT-SP-04

55.4

55.4

0

0.4

0.8

16.4

81.6

0.7

0

0

0.10

96

1353

GT-SP-04

52.7

52.8

0

0.8

0.8

7.2

90.6

0.6

0

0

0.22

292

392

GT-SP-04

58.7

58.8

0.3

0.5

27.3

63.3

7.5

1.1

0

0

0.08

154

3727

GT-SP-04

67.4

67.4

0

0

2.4

69.8

25.4

0.7

0

1.7

0.09

45

639

GT-SP-04

73.3

73.3

30.8

0.4

1.4

42.4

23.8

1.1

0

0

2.87

106

254

GT-SP-04

76.6

76.7

37.2

0.5

1.7

34

25.5

1.1

0

0.1

2.28

11

505

GT-SP-04

80.8

80.9

0

0.4

0.8

32

65.9

0.8

0

0

0.04

112

778

GT-SP-04

82.6

82.7

0.2

0.5

32.2

61.4

5

0.7

0

0

1.71

164

9655

GT-SP-04

82.4

82.4

0.2

0.8

32.4

56.4

9.3

0.8

0

0

1.39

126

9642

GT-SP-04

87.2

87.2

0

0.8

1.7

33.2

63.5

0.8

0

0

0.22

26

1627

GT-SP-04

86.5

86.6

0

1.6

17

31.9

20.3

29.2

0

0

0.16

42

2390

GT-SP-04

88.4

88.5

0

1.1

11.4

38.7

22.7

26.1

0

0

0.07

136

1945

GT-SP-04

89.0

89.0

0

0

80.5

12.2

5.1

0.9

0

1.4

1.13

265

>10000

Quality Assurance/Quality Control (QA/QC)

The drill holes are initially sited using a hand-held GPS (Global Positioning System device) within the -tenement areas. Accurate coordinates and elevations of drill holes collars are subsequently derived from a DGPS (Differential Global Position devices) survey.

Drill cores are geologically logged, intersections of interest are selected are marked-up with unique sample ID assigned before splitting and sampling. Cores are cut in half using a core cutter, individual samples bagged, and sent for analysis.

Alternating Certified Refence Materials (CRM), blank or duplicate samples are inserted every 10th sample into the sample stream sent to the laboratory to ensure QA/QC compliance. These QA/QC samples are assessed upon receipt of analyses, checked and, if acceptable, accepted into the analytical database. Follow-up with the laboratory is instigated in cases were any QA/QC sample fails the QA/QC parameters.

All samples are crushed and pulverised to 75 microns with 85% of the pulverised sample passing -75microns. Samples are analysed at the SGS Laboratory Services in Randfontein, South Africa as 30-element scans following a sodium peroxide fusion and ICP-OES and ICP-MS analytical finish. (SGS code ICM90A).

Qualified Person:

Bruce Cumming, Geologist with Premier, has reviewed and approved this release to the extent that reference is made to Zulu.  Mr. Cumming is a SACNASP and GSSA registered geoscientist with 46 years’ experience in exploration and project management, in multicommodity projects throughout Africa.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

The person who arranged the release of this announcement on behalf of the Company was George Roach.

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. Nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

About the Geology at Zulu

The area, located in the Fort Rixon Greenstone Belt, is underlain by Archaean-aged meta-volcanics and meta-sedimentary sequences of the Bulawayan System, with serpentinites and banded iron formations at the base in the east and metamorphosed volcanics and sediments 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 up to chlorite facies.

The Zulu Pegmatite is a LCT (Lithium-Caesium-Tantalum) pegmatite swarm which intrudes along the contacts between serpentine and meta-sedimentary rocks over a strike length of several kilometres. Outcrop widths vary between 10 and 25 m. The pegmatite bodies strike N20° and dip with 70° to 90° to the west.

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

The thickest pegmatite, north and south of the Machakwe river, is rich in spodumene, petalite and lepidolite while the thinner footwall pegmatites tend to be lower in Li-grade but carry good tantalum and rubidium grades.

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.

Movers and Shakers: Sithole joins Africa Institute of Small Scale Mining

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Movers and Shakers: Sithole joins Africa Institute of Small Scale Mining

One of Africa’s most decorated gemologists and former Minerals Marketing Corporation of Zimbabwe (MMCZ) Mineral Evaluator, Eng. Clever Sithole, has joined the Africa Institute of Small Scale Mining (AISSM) as Director of Innovation and Business Intelligence.

Sithole joins the AISSM where he will be responsible for implementing innovative solutions that enable business growth strategies for artisanal small-scale miners (ASM) across Africa.

Among his other duties, he will mobilise international donor support for start-up mining projects, design technical systems that enable implementation of formal mining, training and sustainable resource extraction for artisanal small-scale miners. At the AISSM, Eng. Sithole will be the vital cog in mobilizing international donor support for the establishment of Africa`s first gemstones certification laboratory and training. This comes through practical exposure and experience working at a USAID-funded project for the Islamic Government Republic of Afghanistan where he successfully implemented and managed the project as the DAI Invest Head Gemologist.

Eng. Clever Sithole is an internationally accredited Gemologist who trained at the Gemological Institute of America, World Gem Foundation (Spain), SSEF Swiss Gemmological Institute (Switzerland), HRD Antwerp Institute of Gemmology (Belgium), Indian Diamond Institute (Surat, India), European Gemological Laboratory (EGL, South Africa), Certified Coloured Stones Grader & Pricing Specialist (Gem-A, UK), Certified Pearl Specialist (CPAA, USA), GIA Accredited Jewelry Professional, Diamonds & Coloured Stones Graduate (GIA), B.Eng (Hons) in Mining & Mineral Processing Engineering (MSU). Currently, he is enrolled for an MSc in Mineral Resource Management at the University of Free State, South Africa. His past experience includes 13 years of working experience at MMCZ. He is also an Associate Member of the Accredited Gemologists Association (AGA), USA.

The Africa Institute of Small-scale Mining is headquartered in South Africa with an extensive network transcending the whole continent of Africa. It is a dynamic organization that integrates logical disciplines along the mining value chain from exploration, mining, mineral processing to marketing. It operates in the areas of training, research, advocacy and consultancy for ASMs in Africa. It also creates opportunities for disadvantaged communities, youths, the physically challenged and women across the continent through various initiatives and programs. The AISSM`s goal is to assist small-scale mining companies and individuals with the right knowledge, skill, and network to foster growth.

On the 23rd of September 2022, Africa’s Small Mining Industry will converge in Accra, Ghana to applaud leadership and excellence in the sector. The event will offer the opportunity for stakeholders to unwind and network.

Caledonia Mining offers significant growth potential

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Caledonia Mining offers significant growth potential

Caledonia Mining Corporation PLC offers significant growth potential in an under-explored African greenstone belt, Cenkos Securities believes.

The broker reiterated its ‘buy’ recommendation on the Zimbabwe-focused miner, saying Caledonia delivers high yield exposure to the gold sector with increasing production from the 64% owned Blanket Gold Mine in Zimbabwe.

“With an improving political situation, Caledonia offers the in-country experience to capitalise on production-backed exploration in a significant under-explored African greenstone belt. We value Caledonia on a base case in the region of US$233mln or £14.80/share, on a long-term US$1,750/oz gold price and assuming a 12% discount rate. With a focus on developing a second project in the near-term while maintaining the dividend, Caledonia offers significant growth potential,” Cenkos said.

The gold miner is set to churn out 80,000 ounces (oz) a year from 2022, which will lead to increased cash flows just as capital expenditure requirements ease off, offering scope for the money to keep returning cash to shareholders.

Cenkos estimates the company will return more than C$15mln a year if it just holds its current dividend of 14 cents a quarter. Increased production and lower costs could support continued increases in dividends, the broker argues, observing in passing that the divi has more than doubled since 2019.

The stock has a yield of 4.7% against a sector average of 1.6% which implies to Cenkos that the stock should trade at C$36 a share based on the sector average.

“In fact, on any metric Caledonia looks like it is trading at a discount against its gold mining peers, and while this may be accounted for by its position as a single asset producer in Zimbabwe, we believe this is probably weighing too heavily on the stock at present as the Zimbabwean economy normalises,” the broker said.

The company has suffered from unstable electricity supplies but still maintains a healthy margin despite the current ramp-up of production from the Central shaft.

Increased volumes, economies of scale and better mine efficiencies could go some way to offset any inflationary pressures in the sector” the broker speculated.

Shares in Caledonia trade at 948p in London, down 2.5% on the day.

Produce battery-grade lithium within 5 years Zim tells Chinese giant

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Produce battery-grade lithium within 5 years Zim tells Chinese giant

China’s Zhejiang Huayou Cobalt faces regulatory pressure to produce battery-grade lithium in Zimbabwe within five years, official documents seen by Reuters show, something the miner has already said cannot be achieved.

China’s biggest cobalt refiner acquired the hard-rock Arcadia lithium mine just outside Harare for $422 million earlier this year and has announced plans to spend $300 million.

But it has said production of battery-grade lithium in Zimbabwe is “not feasible” due to a shortage of electricity and other key inputs.

However, as a condition for approving the deal the Competition and Tariff Commission has stipulated that battery-grade lithium be produced within five years.

“The transaction was approved subject to the condition that the merged entity, its subsidiaries, affiliates and successors in title should undertake to produce battery-grade lithium in Zimbabwe within five years of receiving this determination,” the commission said in a June 22 notice seen by Reuters.

That is at odds with Huayou’s stated plans to build only a concentrator plant to process ore, not a converter for further processing to produce battery-grade lithium carbonate.

“For each tonne of battery-grade lithium carbonate production, it needs 2 800 kWh of green renewable power, 500 to 600 cubic metres of natural gas, 2.2 t of concentrated sulfuric acid (98.5%), 2 t of first-class sodium carbonate, 20 kg of first-class sodium hydroxide, 4 t of heavy calcium powder, and 1.6 t of food-grade carbon dioxide,” Huayou said in May when it announced its investment plans for Arcadia.

“There is a chronic shortage of these supporting and auxiliary materials in Africa, and the costs incurred by importation would be huge and unaffordable.”

Neither Huayou nor Zimbabwe’s Mines ministry responded to requests for comment on the competition commission’s directive.

Mining analyst Paul Chimbodza said Zimbabwe, which has a 5% tax on raw lithium exports to promote local processing, needs to temper its “noble” battery aspirations.

“This young industry needs to walk before it can run,” Chimbodza said.

Mining Weekly

Oil, gas equipment lands in Zimbabwe this week

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Oil, gas equipment lands in Zimbabwe this week

INVICTUS Energy, the Australian firm exploring oil and gas in the Muzarabani and Mbire districts of Mashonaland Central, north of Zimbabwe, expects the first batch of key pieces of the exploration drilling equipment to be delivered at the project site this week.

The company announced recently that mobilisation of the Exalo 202 rig from Tanzania’s Songo Songo area, where the equipment was contracted for similar work, had commenced.

This sets up Zimbabwe for a historic first-ever oil and gas exploration drilling exercise that could significantly transform the mineral-rich Southern African country’s economy if the project achieves commercial discovery.

President Mnangagwa said at the launch of the Petroleum Exploration Development and Production Agreement (PEDA) last year that the signing of the (PEDPA) agreement represented major strides in Zimbabwe’s efforts to tap into its oil and gas deposits, which is new territory in the country’s mining sector.

The PEDPA provides the framework for the progression of the Cabora Bassa Project through the exploration, appraisal, development and production phases, the obligations and rights of each party, the minimum work program obligations to maintain the licence in good standing, and the security of tenure for the project duration. He also said other potential benefits of an oil and gas discovery included electricity generation, production of liquid petroleum, liquefied petroleum gas (LPG), fertiliser production and petrochemicals.

President Mnangagwa said the signing of the PEDPA with Geo-Associates, (Invictus’ 80 per cent owned subsidiary), was testimony to the Government’s commitment to open up the economy to investment as well as engage and reengage the global community to do business in Zimbabwe. Results of data gathered by American oil giant Mobil in the early 90s and reprocessed using modern technology have shown encouraging evidence supporting the potential existence of hydrocarbons in the prospective area.

Further similar work, using the latest technology, on denser line spacing (seismic study), which was completed in September last year, has also indicated the huge potential for oil and gas deposits in Muzarabani and Mbire.

The seismic, gathering sub-surface vibrations to investigate the potential existence of domes trapping oil/gas, was carried out by an experienced Canadian firm, Polaris Natural Resources.

Invictus chief executive, Scott MacMillan, said in an interview that the Exalo Rig 202 equipment had arrived in Beira, Mozambique and was now ready to be transported to Zimbabwe.

He said the company was on track to commence the exploration drilling programme at the end of July and in August. However, he said the commencement of the drilling exercise “would depend on how the rest of the rig move goes and (if there will be) any delays with border (clearing) and rig up.

But Mr MacMillan said the rig equipment was already “on its way”. “First load clearing customs (is underway) in Mozambique at the moment”. The company estimates up to U$25 million would be spent on the drilling.

In an earlier update, Invictus said the rig and associated equipment were expected during the course of June ahead of the commencement of the drilling programme at the end of next month. Invictus said, then, that following the completion of clearing procedures and documentation, the Exalo Rig 202 has commenced mobilisation from Songo Songo Island in Tanzania to Cabora Bassa.

“The rig and associated equipment will arrive over the course of June and commence rig up to drill the first of two wells in the company’s upcoming exploration campaign in the Cabora Bassa Basin,” it said.

Invictus said the Mukuyu-1 well pad construction was nearing completion following the finalisation of civil works including pad levelling and compaction, water supply and reservoirs.

The concrete footings for the rig will be poured for curing ahead of the arrival of the rig to the wellsite.

“The Mukuyu-1 well will test multiple stacked targets within the greater Mukuyu structure, which is independently estimated to contain 8.2 Tcf (Trillion Cubic Feet) + 247 million barrels of conventional gas condensate (gross mean unrisked),” Invictus said.

Invictus has since been advised that the pre-gazettal administration process to increase its Special Grant 4571 (SG 4571) area by seven-fold has been completed and awaits publishing in the Government Gazette.

Invictus’ subsidiary, Geo Associates and the Sovereign Wealth Fund of Zimbabwe, recently executed a Heads of Agreement (HoA) to increase its SG 4571 licence area from 100 000 hectares to 709 300 ha.

Mr Macmillan said earlier; “The commencement of the rig mobilisation marks another milestone in the project as we prepare to commence drilling the Mukuyu-1 well, the first well in our potentially play opening two-well exploration campaign in the frontier Cabora Bassa Basin.

“The enlarged SG 4571 licence provides us with a basin master position encompassing the entire Cabora Bassa Basin in Zimbabwe.

“Subject to making an opening discovery with one of our first two wells, it potentially could provide us with future discoveries on a large scale within the basin which will be transformational for the company and the Republic of Zimbabwe.”

The company has committed to drill a second well in the campaign to test the newly identified basin margin play which was matured through the CB21 Seismic Survey completed in November 2021.

Source – Sunday Mail

Vast completes 2nd Milling Circuit at Baita Plai Polymetallic Mine

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Vast completes 2nd Milling Circuit at Baita Plai Polymetallic Mine

Vast Resources plc, the AIM-listed mining company, is pleased to announce that the second milling circuit in the processing plant at the Baita Plai Polymetallic Mine (“Baita Plai”) has been completed six weeks ahead of schedule.

The second milling circuit further optimises the operations at Baita Plai and doubles the milling capacity at the plant. With two milling circuits fully functioning the two mills combined are capable of processing 14,000 tonnes per month.

Andrew Prelea, Chief Executive Officer of Vast Resources PLC, commented:

“Our mining volumes are steadily increasing, and are expected to increase dramatically with the implementation and ramp up of long hole stope mining commencing from next month. The commissioning of this second milling circuit – achieved six weeks ahead of schedule – will support increased concentrate production moving forward. Our operations at Baita Plai are ramping up encouragingly and I am confident that this will be reflected in our future production and sales reports.”

Vast Resources is popularly known for being a major shareholder in the Chegutu-based Pickstone Peerless gold mine. Vast Resources Plc agreed on the sale of its 25 per cent stake in the Pickstone Peerless gold mine in 2019. A contract of sale was agreed for its 50.1 per cent holding in Ronquil Enterprises at the time.

In September 2019, the Company announced it has signed a Joint Venture Agreement with Chiadzwa Mineral Resources (Pvt) Ltd (“CMR”), a company designated to represent the Chiadzwa Community interests in the Concession.  This resulted in the formation of Katanga Mining (Pvt) Ltd (”Katanga”). A further Joint Venture Agreement between Katanga and the Zimbabwe Consolidated Diamond Company (Pvt) Ltd (“ZCDC”), a government entity which represents the Republic of Zimbabwe in the diamond mining sector, is set to be officially signed.

Despite a series of delays, Vast’s CEO Andrew Prelea has indicated that the company remains hopeful it will be granted licenses to mine the area.

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