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Mine Ventilation Society to Push Legislative Reforms at Upcoming AGM

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Mine Ventilation Society to Push Legislative Reforms at Upcoming AGM

Zimbabwe’s outdated ventilation laws are set to come under scrutiny at the upcoming Mine Ventilation Society of Zimbabwe (MVSZ) Annual General Meeting (AGM) and Symposium, scheduled for 30 and 31 October 2025 in Bulawayo. The event will provide a key platform for reviewing and aligning the country’s mine ventilation framework with modern safety standards, Mining Zimbabwe can report.

By Ryan Chigoche

Over the years, ventilation in underground mines has proved vital for worker safety, helping remove harmful gases, dust, and other pollutants. Yet in Zimbabwe, current laws are outdated and unclear, leaving gaps in oversight and enforcement.

With the MVSZ AGM and Symposium fast approaching, Dr Tonderai Chikande, the president of the society, said the event will serve as a call to action for the review of ventilation legislation.

“Ventilation legislation is the backbone of safe mining. This year’s AGM is a call to modernise our legal framework. Current laws are outdated and don’t reflect today’s risks (e.g., diesel fleets, deep mining, ASM). Good regulation strengthens industry and protects lives. Together, through this symposium and AGM, we are laying the foundation for a mining sector that is not only productive but principled,” Chikande said.

As of now, the Mines and Minerals Act and the Mining Management and Safety Regulations (SI 109 of 1990) provide general safety guidance but fail to define responsibilities for ventilation or set modern technical standards for air quality.

Adding to that, the recent reforms under the Mines and Minerals Bill, which is intended to replace the existing Mines and Minerals Act, have failed to address key ventilation challenges.

While the bill seeks to modernise Zimbabwe’s mining legislation, it provides limited guidance on air quality management and does not clarify roles for overseeing ventilation in modern, mechanised mines. Exposure limits for dust, smoke, and gases remain outdated, leaving workers vulnerable in deeper operations.

The AGM and Symposium will provide a forum for industry stakeholders, regulators, and mining professionals to discuss practical solutions.

Discussions will focus on clarifying responsibilities, updating technical standards, and integrating modern technologies to improve air quality underground. Regional lessons, particularly from South Africa—where ventilation standards are regularly updated—will inform the debate.

By combining legislative review with operational best practices, the MVSZ aims to guide Zimbabwe’s mining sector toward safer, smarter, and more sustainable operations. Attendees will explore ways to protect workers, enhance productivity, and build a culture of excellence in ventilation management.

Meanwhile, this year’s event will run under the theme “Optimising Ventilation Systems for Operational Excellence.”

Gold Prices Fall at an average of US$3.7 per gram

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Gold Prices Fall at an average of US$3.7 per gram

International Gold prices have taken a noticeable dip today, with Fidelity Gold Refinery (FGR) reporting lower prices across all purity categories compared to yesterday. The decline reflects a cooling in the bullion market after a period of strong gains, as global investors reassess positions amid shifting economic signals.

Yesterday, top-grade gold (SG 90% and above) was trading at US$130.47 per gram (US$4,060.22/oz). Today, it has fallen to US$126.68 per gram (US$3,938.69/oz) — a sharp decline of US$3.79 per gram.

The downward movement was consistent across all categories:

CategoryYesterday ($/g)Today ($/g)Change ($/g)
SG 90% and ABOVE130.47126.68-3.79
SG 85%–89.9%129.09125.34-3.75
SG 80%–84.9%127.71124.00-3.71
SG 75%–79.9%126.33122.66-3.67
Sample 5g–10g124.25120.65-3.60
Fire Assay Cash131.16127.35-3.81

The average decline of around US$3.7 per gram marks one of the steepest single-day drops in recent weeks.

Market analysts attribute the fall to a strengthening U.S. dollar and reduced safe-haven demand as global markets show signs of stabilisation. Traders have also pointed to possible profit-taking following gold’s recent rally above US$4,000/oz levels.

Despite the pullback, experts maintain that long-term prospects for gold remain positive, driven by central bank demand, geopolitical uncertainty, and inflationary pressures that continue to support the metal’s safe-haven appeal.

Fidelity’s daily pricing remains the benchmark for Zimbabwe’s small-scale and large-scale gold producers, influencing sales and deliveries across the sector.

Gold buying prices in Zimbabwe per gram/ ounce, 22 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 22 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 22 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE126.683,938.69
SG 85% and above but below 90%125.343,897.17
SG 80% and above but below 85%124.003,855.64
SG 75% and above but below 80%122.663,814.12
Sample 5g and above but below 10g120.653,752.15
Fire Assay CASH127.353,962.99

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

Caledonia Reports Marginal Q3 Output Gain, Year-to-Date Production Up 3.6%

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Caledonia Reports Marginal Q3 Output Gain, Year-to-Date Production Up 3.6%

Victoria Falls Stock Exchange-listed miner Caledonia Mining Corporation recorded a marginal 0.6% increase in gold production to 19,106 ounces for the quarter ended September, up from 18,992 ounces posted in the prior comparable period, Mining Zimbabwe can report.

By Ryan Chigoche

The improved output in the third quarter lifted the company’s cumulative gold production for the nine months to the end of September to 58,846 ounces, reflecting a 3.6% rise from 56,815 ounces achieved in the same period last year.

This steady performance underscores the strength of operations at Caledonia’s flagship Blanket Mine, which continues to anchor the company’s growth and operational plans.

Commenting on the results, Caledonia Chief Executive Mark Learmonth attributed the consistent performance to sustained operational discipline and targeted investments.

“We’re pleased to report another quarter of solid performance at Blanket, building on the exceptional start to the year. The consistency of our output reflects the strategic investments we’ve made across the business, and we remain on track to meet our increased production guidance,” Learmonth said.

In line with this strategy, Caledonia has been implementing a capital investment programme worth around US$41.8 million for 2025, with US$34.9 million channelled towards Blanket Mine to modernise operations, enhance safety systems, and expand production capacity.

The miner also reported improved metallurgical recoveries, achieving a record 94.4% recovery rate in Q2 2025 — a development that continues to support stronger quarterly output and efficiency gains.

Looking ahead, Caledonia reaffirmed its gold production guidance for 2025, projecting between 75,500 and 79,500 ounces as operational upgrades and resource optimisation initiatives continue to take effect.

However, despite the strong performance, the company expressed deep regret over a fatal incident involving a Blanket Mine employee during the period, following an accident related to secondary blasting.

“On behalf of Caledonia, I extend our heartfelt condolences to the family and colleagues of the deceased. The safety and well-being of our workforce remain our highest priority,” Learmonth added.

Caledonia Sets Out Bilboes Financing Plan

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Caledonia Sets Out Bilboes Financing Plan

Caledonia Mining Corporation is advancing plans to develop its Bilboes Gold Project in Zimbabwe, emphasizing a strategic approach to financing that combines cash-generating assets with high-potential projects to mitigate investment risks in a challenging environment, Mining Zimbabwe reports.

By Ryan Chigoche

This approach, designed to balance risk and reward, underpins the company’s plans to advance the Bilboes Gold Project, one of its most significant growth ventures in the country.

Zimbabwe’s mining sector is often considered high-risk due to factors such as regulatory uncertainty, currency volatility, power shortages, and historical disputes over mining rights. These challenges necessitate innovative financing strategies to attract investment.

Victor Gapare, Executive Director at Caledonia, elaborated on the company’s approach:

“The strategy was always to combine cash-flowing assets with a significant resource project so that when we raise capital, we have existing cash flow to support the project. By merging these assets in a high-risk jurisdiction like Zimbabwe, we could secure funding and achieve reasonable valuations. Over the past few years, we’ve also reassessed the project to reduce capital costs and explored smaller-scale versions to ensure feasibility,” Gapare said.

A board decision on the next phase of the Bilboes Project — including project design, budget approval, and the start of detailed engineering — is expected by November, with equipment orders planned for the following year.

By integrating Bilboes with cash-generating operations such as Blanket, Caledonia aims to secure financing more efficiently while protecting shareholder value.

The project is expected to significantly increase output, moving the company from 75,000–80,000 ounces of gold annually to a projected 250,000–300,000 ounces per year once the assets are fully integrated.

With cash-flowing mines like Blanket supporting the Bilboes Project, Caledonia aims to grow steadily while managing risk in Zimbabwe’s challenging mining landscape.

Through a combination of careful planning and disciplined financing, the company expects to strengthen production and deliver value for shareholders.

Gold buying prices in Zimbabwe per gram/ ounce, 21 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 21 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 21 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE130.474,060.22
SG 85% and above but below 90%129.094,017.91
SG 80% and above but below 85%127.713,975.59
SG 75% and above but below 80%126.333,933.27
Sample 5g and above but below 10g124.253,868.36
Fire Assay CASH131.164,078.29

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

Mine Ventilation Conference to Spotlight Optimised Ventilation Systems for Safer, Smarter Mining

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Mine Ventilation Conference to Spotlight Optimised Ventilation Systems for Safer, Smarter Mining

The Mine Ventilation Society of Zimbabwe (MVSZ) will hold its Annual General Meeting and Symposium from October 30 to 31 in Bulawayo, under the theme “Optimising Ventilation Systems for Operational Excellence,” Mining Zimbabwe can report.

By Ryan Chigoche

The event is expected to set the tone for renewed discussions on how the mining sector can modernise its underground ventilation systems to meet the demands of deeper and more mechanised operations.

Speaking to Mining Zimbabwe, MVSZ President Dr. Tonderai Chikande said this year’s theme reflects both the changing face of Zimbabwe’s mining landscape and the growing urgency to make ventilation a central pillar of mine planning and productivity.

“The theme is both timely and transformative. ‘Optimising Ventilation Systems for Operational Excellence’ speaks directly to the evolving nature of Zimbabwe’s mining landscape and reflects the urgent need to modernise ventilation across the sector. Our operations are going deeper and becoming increasingly complex. In this context, ventilation is no longer a background function — it is the strategic enabler of safety, productivity, and sustainability. Ventilation must be proactive, intelligent, and integrated into mine planning from the outset. This theme challenges us to move beyond compliance and embrace innovation, energy efficiency, and real-time monitoring as pillars of operational excellence,” said Dr. Chikande.

His remarks come as Zimbabwe’s mining industry continues to expand, with increased mechanisation and deeper underground operations introducing new challenges in air quality management and occupational safety.

The upcoming conference is expected to provide a platform for ventilation professionals, engineers, and safety practitioners to exchange ideas, review legislation, and showcase technologies designed to enhance efficiency and worker protection.

The two-day event will feature a ventilation legislation review, technical presentations, exhibitions, and team-building activities aimed at strengthening collaboration and continuous professional development in the sector.

The legislative review is expected to be one of the key highlights, as discussions focus on aligning existing frameworks with evolving health, safety, and environmental standards.

Industry observers note that conversations around energy-efficient ventilation systems, digital monitoring, and automation are becoming increasingly relevant as mines seek to balance safety, productivity, and sustainability.

Over the years, the MVSZ AGM and Symposium has grown into one of the most significant fixtures on Zimbabwe’s mining calendar. It continues to serve as a vital platform for technical exchange and innovation, shaping the country’s efforts to create safer, smarter, and more sustainable underground mining operations.

Gold forecast to Hit US$5,000 by 2026

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Gold forecast to Hit US$5,000 by 2026

Zimbabwean producers ramp up investments as gold’s bull run fuels renewed optimism and record inflows

Gold’s relentless rally is reshaping investor sentiment worldwide, with HSBC now forecasting prices could climb to US$5,000 per ounce by 2026 — a projection already reverberating through global and local mining sectors, where renewed confidence is driving investment and expansion.

By Ryan Chigoche

The British banking giant’s latest outlook, released Friday, predicts the “bull wave” will extend into next year, supported by geopolitical tension, robust central bank buying, and rising financial instability. HSBC lifted its 2025 average gold price forecast to US$3,455 and 2026 to US$4,600, citing economic policy uncertainty and escalating public debt as major factors sustaining demand.

“Unlike previous rallies, many of these new buyers are likely to stay in the gold space — not purely for profits but for diversification and safe-haven value,” the bank noted.

Global Bull Wave Lifts Sentiment

Spot gold traded around US$4,365 an ounce on October 17, close to a record US$4,379.93, marking its strongest weekly performance since 2008. Prices have gained nearly 60 percent since January, fuelled by expectations of U.S. interest rate cuts, surging exchange-traded fund inflows, and renewed safe-haven demand amid trade tensions and political uncertainty.

Analysts at Bank of America and Société Générale share HSBC’s bullish tone, expecting gold to reach new highs in early 2026 before stabilising later in the year. The rally has encouraged investors to view gold not just as a crisis hedge but as a strategic, long-term asset — a sentiment reflected in mining equities and exploration budgets.

The Spillover of the Gold Bull Wave to Zimbabwe

For Zimbabwe, where gold accounts for more than half of export earnings, the surge has been a timely economic lifeline. Gold exports doubled in the first half of 2025 to US$1.84 billion, with deliveries to the Fidelity Gold Refinery reaching 33 tonnes toward a 40-tonne national target.

Artisanal and small-scale miners (ASMs) contributed 24.5 tonnes in the first nine months — a 68 percent increase from 2024 — as high prices drew thousands of new participants. Large-scale producers, though constrained by power shortages and machinery breakdowns, are also capitalising on the favourable price environment to justify new investments and modernisation.

The bullish trend has spilled into Zimbabwe’s capital markets. The Victoria Falls Stock Exchange (VFEX), the country’s U.S. dollar-based bourse, recently surpassed US$2 billion in market capitalisation for the first time, with third-quarter turnover doubling to US$17 million.

Mining counters such as Caledonia Mining, Padenga Holdings, and Kuvimba Mining House have led the rally, mirroring global investor sentiment and reflecting growing belief in Zimbabwe’s mineral potential. The strong performance underscores how global market momentum is boosting confidence in local mining equities.

Rising Capital Commitments

Spurred by robust prices, Zimbabwean mining firms are expanding aggressively. Kuvimba Mining House plans to invest US$38 million to boost production at Freda Rebecca and has earmarked nearly US$1 billion for wider projects.

Caledonia Mining is spending US$41.8 million to extend Blanket Mine’s life to 2034, while Padenga’s Dallaglio subsidiary is investing US$30 million to develop underground operations and achieve energy self-sufficiency by 2026.

These investments point to growing optimism that high gold prices will hold over the medium term, allowing producers to strengthen output and profitability despite operational headwinds.

RBZ Strengthens Gold-Backed ZiG

The Reserve Bank of Zimbabwe (RBZ) has also taken advantage of the boom, accumulating gold and forex reserves now estimated at US$900 million to back the Zimbabwe Gold (ZiG) currency. The stronger reserve position has supported the ZiG’s stability and narrowed forex shortages, showing how global bullion gains can translate into domestic monetary resilience.

While comparisons to the 1970s and post-2008 rallies are common, analysts say today’s market dynamics are different. This cycle is being driven less by inflation fears and more by structural distrust in fiat currencies, alongside record central bank purchases exceeding 1,000 tonnes annually since 2022.

HSBC’s bullish view aligns with projections from J.P. Morgan, which expects gold to average US$3,675 in Q4 2025 and reach US$4,000 by mid-2026, and Bank of America, which sees potential spikes to US$5,000.

Though volatility could re-emerge if geopolitical tensions ease, consensus across the investment community suggests the bull market still has room to run.

For Zimbabwe, the implications are profound. Record exports, surging ASM participation, and expanding corporate investment all reflect a sector regaining its footing. Gold’s rally has not only improved cash flows — it has restored confidence, unlocking new capital and strategic ambition across the mining landscape.

If current trends persist, this renewed confidence could signal the beginning of a new investment cycle, positioning gold once again as the cornerstone of Zimbabwe’s economic stability.

Gold buying prices in Zimbabwe per gram/ ounce, 20 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 20 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 20 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE128.353,991.33
SG 85% and above but below 90%126.993,949.03
SG 80% and above but below 85%125.643,906.98
SG 75% and above but below 80%124.283,864.55
Sample 5g and above but below 10g122.243,801.38
Fire Assay CASH129.034,014.04

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

Kavango Resources Secures Additional Capital From Strong Investor Demand

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Kavango Resources Secures Additional Capital From Strong Investor Demand

In a clear signal of robust market confidence, London and Victoria Falls Stock Exchange-listed mining junior Kavango Resources Plc (LSE:KAV, VFEX:KAV.VX) has mobilised an additional £150,000 in the United Kingdom and US$129,035 in Zimbabwe, responding to significant investor demand following its recent major fundraisings on both stock exchanges, Mining Zimbabwe can report.

By Rudairo Mapuranga

The Southern Africa-focused metals exploration and gold production company announced the successful completion of this supplementary capital raise, which follows the substantial £2.2 million UK placing and subscription and the US$4.5 million VFEX subscription it announced last month.

The company confirmed that the proceeds from this latest fundraise will be channelled towards strengthening its working capital and financing ongoing exploration and mine development work across its operations in Southern Africa. This strategic allocation is consistent with the company’s previously announced objectives to aggressively advance its projects.

This additional capital injection underscores the growing investor appetite for Kavango’s dual-strategy approach, which involves developing near-term commercial gold production in Zimbabwe’s proven greenstone belts while simultaneously exploring for large-scale copper systems in Botswana’s Kalahari Copper Belt.

In total, Kavango has issued 24,557,448 new ordinary shares through this round, comprising 15,000,000 shares in the UK and 9,557,448 shares in Zimbabwe, all priced at £0.01 per share. The new UK shares were admitted to the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange, while the VFEX shares followed a similar process before being transferred to Zimbabwe for listing and trading on the Victoria Falls Stock Exchange.

Market analysts view this successful additional fundraising as a positive indicator of Kavango’s strengthening market position and its ability to attract continued investment for its expansion strategy in the region. The company’s secondary listing on the VFEX in September 2025 has provided it with enhanced access to Zimbabwean capital, further solidifying its commitment to the country’s mining sector.

Following the admission of these new shares, Kavango Resources’ total number of ordinary shares in issue will stand at 3,634,380,762.

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