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Zimplats to hold annual general meeting virtually

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Zimplats to hold annual general meeting virtually

In view of the impact of the COVID-19 pandemic and the restrictions placed on travel and numbers in respect of public gatherings Zimbabwe’s biggest platinum producer, Zimplats will hold its Annual General Meeting (AGM) via online platforms in the interest of health and safety of all stakeholders.

Rudairo Dickson Mapuranga

Through the company’s annual report released early this month, the platinum miner notified its stakeholders that the company will hold its meeting at the offices of Impala Platinum in South Africa and virtual through online platforms.

“Notice is hereby given that the twentieth annual general meeting (“the meeting”) of the members of Zimplats Holdings Limited (“Zimplats” or “the Company”) will be held at the offices of Impala Platinum Holdings Limited, 2 Fricker Road, Illovo, Johannesburg, South Africa, and also virtually at https://78449.themediaframe.com/links/zimplats201112.html on Thursday 12 November 2020 at 11:30 am South African time (GMT+2) for the following purposes:” reads part of the report.

The platinum miners said, it has full support for the laws that are put in place to manage the spread of the Covid-19 thus holding the meeting online. It also said that members who wish to register, vote and participate in the meeting should get hold of the company’s annual report for explanations.

“In full support of the legislative and other measures put in place to curb the spread of the virus, the meeting of the members of the Company will be held virtually via an online platform which allows members to participate electronically in real-time. Members are referred to pages 4 – 5 of this notice (pages 197-198 of the integrated annual report) for specific details of how to register, vote, and participate in the virtual meeting.” The report reads in part.

All holders of ordinary shares in Zimplats at the Entitlement Time are entitled to attend and are required to vote ahead of the meeting.

Resolutions which are ordinary resolutions, propose the re-election of those directors who are retiring by rotation and who are offering themselves for re-election. In terms of Article 16.2 of the Articles, a director will retire from office no later than at the third annual general meeting following his or her last election and will be eligible for re-election.

Mr Nicolaas Johannes Muller, Dr Dennis Servious Madenga Shoko and Mrs Patricia Zvandasara have been recommended by Directors that stakeholders vote in favour of their re-election as the Directors, having regard to their respective qualifications to act as directors of your Company.

Vote for or against the resolutions in the notice, by no later than 48 hours before the meeting (being 11:30 am South African Standard Time) on Tuesday 10 November 2020 on www.investorvote.au.

Shareholders are to note that no voting shall take place during or on the date of the meeting, however, members shall be able to participate in the meeting. The Company will beam a live webcast of the proceedings of the meeting at https://78449.themediaframe.com/links/zimplats201112.html. Members and/or their proxies will be able to submit their questions prior to and/or during the meeting on the aforementioned online platform.

Members may visit the Company’s corporate website www.zimplats.com to view the financial statements or access information pertaining to the Company

Fidelity official gold buying prices Tuesday 14 October 2020

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Fidelity official gold buying prices Tuesday 14 October 2020

Fidelity Printers and Refiners (FPR) official gold buying prices Tuesday 14 October 2020

SG 90% AND ABOVE $54.42/g
SG ABOVE 85% BUT BELOW 90% $53.50/g
SG ABOVE 80% BUT BELOW 85% $52.29/g
SG ABOVE 75% BUT BELOW 80% $51.68/g
SAMPLE BELOW 10g BUT ABOVE 5g $52.90/g
FIRE ASSAY CASH $54.72/g

 

Cash available. Fidelity Printers and Refiners prices will be changing daily in relation to world market prices.

Contact FPR

No. 1 George Drive, Msasa, Harare, Email: [email protected], Telephone: +263 242-486670, +263 242-486694, +263 242-487131, +263 242-447810-5

ZCDC Workers Down Tools

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ZCDC Workers Down Tools

Operations at Zimbabwe Consolidated Diamond Company (ZCDC) have completely halted with workers reportedly camping at the premises complaining over salary arrears and lack of food.

Well-placed sources at the government-owned diamond entity say the situation is dire and has been compounded by the recent failure of the company to provide food for its workers.

The workers have also gone for over five months without salaries while operations have halted as the company is failing to buy fuel for the plant machinery, leaving only a skeleton staff coming to work as others have downed tools.

“The company is failing to buy fuel, you know we have dumpers, excavators among other machinery which need fuel to operate.

“At Portal A at plant B, almost 300 workers used to come to work, only five people or some just above five are now coming to work at the plant every day just to do safety talk,” said a worker on condition of anonymity.

One worker said since the start of the Covid 19 lockdown operations have slowed down and now completely halted as workers can no longer sustain without food at the company canteen.

“Operations at the plant last ceased almost three months ago, there is no work to talk about at the plant. There is no food at our canteen, we have been eating Sadza and vegetables through and through and this is not good for a diet.

“Now they are failing to provide us even food to eat, so we have said enough is enough we need to be addressed,” said the worker.

ZCDC spokesperson Sugar Chagonda, however, dismissed these reports as unfounded, while acceding that the company has failed to pay workers due to the disturbance of the global diamond value chain

He said the company has since resumed diamond sales and was close to resolving the salary impasse with its workers.

Chagonda is on record that the company have been affected by the Covid 19 pandemic as they have not made any sales due to lockdown.

“I don’t have that report at the moment, we have no report like that from the ground that workers are not working I will need to confirm that.

“That we had problems paying our salary arrears is no secret, its fact that we have been updating the workers on the challenges that we had which were emanating from Covid 19 challenges.

“These challenges are not peculiar to ZCDC but have been felt across the whole sector, it’s a situation that we are addressing actively.

“We have been optimistic in our outlook and we have resumed diamond sales so we are actively addressing those constraints, we can safely say we are finally navigating out of the woods,” said Chagonda.

Recently the company’s former acting chief executive officer Robert De Pretto who recently resigned from his post amid political interference spoke out against shocking levels of poverty and underdevelopment in Chiadzwa.

De Pretto was reportedly hounded out of the state entity and forced to tender resignation for irrevocable differences with top government officials angling to benefit from diamonds, ZCDC has since appointed Mark Mabhudhu as the new mining concern chief executive officer.

ZCDC has been facing viability challenges and owes its employees salaries since April, and at one time forced to seek a loan of approximately ZWL$2milion from a local bank to pay salary arrears.

Read the original article on 263Chat.

BREAKING: Positively identified clothing found at Task Mine

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BREAKING: Positively identified clothing found at Task Mine

Rescuers at Task Mining Syndicate in Chegutu have found a helmet, converse red shoes and gloves underground. The clothing has been positively identified as belonging to one of the miners. Five miners “Task Five” have been trapped underground for the past 35 days after a shaft collapsed at the Chegutu mine. ASM Volunteer rescuers have been working on retrieving the five. Although it is now highly unlikely the “Task Five” will be found alive hopes of retrieving their remains are now high.

The trapped miners are Constantino Dzinoreva (47) based in Chegutu, Charles Mutume (31) Based in Zvimba, Shingai Gwatidzo (20) from Mhondoro and brothers Crynos Nyamukanga (44) and under-aged Munashe Christian (17) from Zvimba.

More to follow

Rushwaya, ZMF officials visit Task Mine

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Rushwaya, ZMF officials visit Task Mine

Zimbabwe Miners Federation (ZMF) President Ms Henrietta Rushwaya and her executive visited Task Mining Syndicate mine in Chegutu yesterday in an effort to speed up the search of five missing miners (Task Five) who were trapped underground last month.

Rudairo Dickson Mapuranga

The visit has come after Chegutu District Administrator Mr Tomu wrote a letter to the owners of the mine ordering them to stop rescue operations. However, the letter was then discarded by the government because any rescue operations can only be legally stopped by the cabinet.

Speaking to Mining Zimbabwe, Rushwaya said ZMF was still hopeful that bodies of the trapped miners would be found so that they get a decent burial.

“We are still hopeful that the bodies will be retrieved and there can be a closure to the whole Task Mine disaster. Only God knows when. We still look upon the Lord for salvation.”

ZMF visited the mine to assess the implementation of the government directive on the abandonment of the search of the five missing miners.

Traditional leaders and Mine Officials also held a cleansing cultural ceremony so that the bodies of the five will be easily retrieved.

ZMF has for a long time appealed to the government for help in mechanising their operations to reduce mining accidents at their operations.

Five Miners namely Constantino Dzinoreva (47) based in Chegutu, Charles Mutume (31) Based in Zvimba, Shingai Gwatidzo (20) from Mhondoro and brothers Munashe Christian (17) and Crynos Nyamukanga (44) from Zvimba have been trapped underground since the 8th of September 2020. Hopes of finding the five alive have diminished as it has been 36 days since they have been underground.

The five, “Task Five” as we call them got trapped after their shaft collapsed and rescue operations have been active since.

Indigenisation yet to be repealed in Platinum, Zimplats to engage gvt

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Indigenisation yet to be repealed in Platinum, Zimplats to engage gvt

Zimplats board chairperson Dr Fholisani Sydney Mufamadi has said his company will engage the government with regards to the Indigenisation and Economic Empowerment Act at the same time support the government in its endeavours to empower indigenous Zimbabweans and to develop the economy.

Rudairo Dickson Mapuranga

Last year the Minister of Finance and Economic Development in his Mid-Term and Supplementary Budget presented to Parliament on 1 August 2019, stated that the Indigenisation and Economic Empowerment Act (Chapter 14:33) requiring 51% indigenous equity for diamonds and platinum miners was going to be repealed and be replaced with an Economic Empowerment Act consistent with the Government’s drive to open Zimbabwe for business.

This announcement came as a welcome to the business community who had previously critic the law of pushing out Foreign Direct Investment (FDI).

Zimplats Chairperson Mufamadi said Zimplats supports the government of Zimbabwe in its quest to empower the people of Zimbabwe and to develop the economy, however, his company will continue to engage the government for clarity regarding the law.

“Your Company continues to support the Government of Zimbabwe in its endeavours to empower indigenous Zimbabweans and to develop the Zimbabwean economy. The Government is yet to amend the law to bring this to effect. Zimplats will continue to engage the Government for clarity on this matter.” Mufumadi said.

Mufamadi said as a way to support in the Zimbabwean community in the development and economic growth the company procured 60 per cent of its goods and services worth USD220 million from local suppliers.

“Your Company continued with its drive to positively contribute towards the economic development of Zimbabwe and the country’s fiscus. In pursuit of this objective, the Group’s operating subsidiary procured 60% of its goods and services from local suppliers during the year, equivalent to US$220.7 million (FY2019: US$234 million). The decrease in payments to local suppliers was attributable to the decrease in capital expenditure from US$115 million in FY2019 to US$104.2 million and high imports demand strategic projects.” He said.

In addition, the company continues to grow its support of local enterprises which has resulted in over 2 000 jobs created in the last seven years.

Payments to Government in respect of corporate tax, withholding tax, royalties, payroll taxes, and customs duties for the year amounted to US$164 million compared to US$84 million in the prior year.

Zimbabwe is not the first country to have such a policy. A host of other countries from the developed world implemented such policies and still have them in various forms which might not be as direct as the compulsory 51/49 shareholding adopted by Zimbabwe. These countries include the US, China, France, Italy, Brazil, Singapore, South Korea, Japan, Italy, Taiwan and South Africa. In these countries, certain economic sectors are reserved for the natives or the national government pushes for joint ventures with foreigners on strategic investment portfolios.

13 arrested for prospecting without a license

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13 arrested for prospecting without a license

Zimbabwe Republic Police (ZRP) has confirmed the arrest of 13 artisanal miners who were mining for gold without mining titles in Matusadonha last week.

Through their Twitter handle, ZRP confirmed to have arrested the artisanal miners who were mining in a semi-formal method with equipment such as water pumps, picks, pipes, and shovels recovered at the mining site.

“13 people were arrested in Matusadonha for prospecting for gold without a permit on 9/10/20. Shovels, water pumps, picks, and pipes used for the illegal mining activities were recovered.” reads the tweet.

Following an outcry, Zimbabwean authorities recently banned mining in all the country’s national parks after a Chinese company was intercepted in Hwange National Park conducting mining operations.

The following are the Zimbabwe National Parks and the government announced mining is prohibited in these areas as of 8 September 2020.

  • Chizarira National Park
  • Gonarezhou National Park
  • Hwange National Park
  • Gonarezhou National Park
  • Hwange National Park
  • Kazuma Pan National Park
  • Mana Pools National Park
  • Matobo National Park
  • Matusadona National Park
  • Nyanga National Park
  • Victoria Falls National Park
  • Zambezi National Park

Padenga diversifies into gold mining, acquires Dallaglio

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Padenga diversifies into gold mining, acquires Dallaglio

DIVERSIFIED crocodile breeder, Padenga Holdings Limited, has diversified into gold mining following the successful acquisition of a 50,01 percent shareholding in Dallaglio Investments (Private) Limited.

The Zimbabwe Stock Exchange (ZSE)-listed firm has delayed publishing its financial results for the half year ended 30 June 2020 saying it needed time to consolidate financial statements for its newly acquired gold mining venture.

Padenga Holdings has interests in crocodile farming and this year it concluded the acquisition of a 50,01 percent shareholding in Dallaglio Investments (Private) Limited.

The company has since been granted a 30-day extension period by the ZSE in which to publish financial results for six months ended June 30, 2020.

“Padenga will publish its financial statements for this period on or before the 30th of October 2020,” it said in a notice.

“The delay by Padenga in publishing its financial statements has been caused by the need to consolidate for the first time the financial results for its 50,01 percent investment in Dallaglio mining business.

“The external auditors for Padenga and Dallaglio have not been able to complete their review of the consolidated numbers and they would like to audit the interim financials for Dallaglio.”

The exercise is expected to take another two or three weeks to complete.

Padenga acquired Dallaglio from Vast Resources, a diversified mining group. The company is also looking forward to investing in the production of avocados and macadamia. At the moment, Padenga produces and exports crocodilian skins and meat to European and Asia markets. The group is optimistic that both the gold venture and the horticulture project will be successful. With global food demand largely stable and projected to grow, horticulture business is considered value accretive.

The move by Padenga to diversify into gold production and horticulture comes as the global exotic skins industry is facing significant headwinds over the past few years, in particular as bans on exotic skins by some key retailers in the industry is being noted.

In addition, last year, Padenga’s product (crocodile) risk was heightened by the low water levels at Kariba Dam, where the company’s local operations are based. The move to acquire Dallaglio could be strategic in view of the gold’s ‘haven status’ for global investors, which has been further buttressed by the Covid-19 pandemic_Business Weekly

Blanket Mine secures contractor for US$13mln solar project

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Blanket Mine secures contractor for US$13mln solar project

CANADIAN-based resources group, Caledonia Mining Corporation, has identified an international renewable energy firm, Voltalia, as the contractor to build a 12MW solar power plant at Blanket Mine in Matabeleland South.

The group, which is listed on the New York Stock Exchange (NYSE), has a 64 percent controlling stake in Blanket Gold Mine.

Recently, Caledonia announced that it had, by way of an at the market sales process on NYSE, secured US$13 million required to implement the solar project. In a latest statement, Caledonia said together with the contractor, they have agreed on an initial design phase of the solar project.

“Further to the announcement on September 4, 2020, regarding the company raising the required funds to invest in the construction of a solar power plant to supply electricity to the Blanket Mine in Zimbabwe, Caledonia is pleased to now announce that it has appointed Voltalia as the contractor for the project,” said the mining group.

Voltalia is listed on the regulated market of Euronext Paris and the international firm has considerable experience in the delivery of renewable energy projects including the development, construction, operation, and maintenance of solar power plants. Already, Voltalia is active notably in Burundi, Malawi, and South Africa.

The mining group looks forward to working closely with Voltalia to deliver a successful project at Blanket Mine in Gwanda which, on completion, is expected to provide an estimated 27 percent of the mine’s total electricity demand.

“This will significantly reduce the risk to the mine of any further deterioration in the quality of grid power, which would necessitate increased use of diesel generators (which are substantially more expensive than grid power),” said Caledonia. The plant will also reduce Blanket Mine’s environmental footprint.

“Caledonia and Voltalia have agreed an initial design phase for the project after which, subject to the conclusion of an Engineering, Procurement and Construction (EPC) contract, procurement and construction are expected to begin with current indicated commissioning for the 12MW solar plant in the last quarter of 2021,” it said.

The project is primarily intended to protect Blanket Mine from any further deterioration in the electricity supply situation.

“Whilst the project is being done for largely defensive reasons, it is expected to yield a modest return to shareholders after taking account of the dilutive effect of the equity,” said Caledonia_Business Weekly

Machete attacks resurface: NPRC says rogue cops to blame for resurgence

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Machete attacks resurface: NPRC says rogue cops to blame for resurgence

THE National Peace and Reconciliation Commission (NPRC) has raised concern over cases of violence involving machetes which have resurfaced in mining areas in Matabeleland South Province.

The commission has attributed the resurgence of violence to laxity and rogue elements within the police force.

Four miners were hospitalised after they were attacked by a machete gang while at Vova Mine in Gwanda on Friday.

Speaking yesterday during a Churches Converging on Conflict and Peace (CCCOP) inception meeting in Gwanda which was attended by the Gwanda local peace committee, NPRC Commissioner

Leslie Ncube said the commission had received numerous reports of corruption by police at Colleen Bawn and West Nicholson police stations.

Comm Ncube said the commission visited the Gwanda Provincial Hospital on Saturday to see people that were attacked by a machete gang at Vova Mine on Friday as part of their assessment.

“As a commission we are concerned by issues of machete gangs which have resurfaced in Matabeleland South Province in areas such as Vova. Members of the security sector who are charged constitutionally with enforcing laws shouldn’t be found sleeping on duty. People can’t be moving around with machetes and attacking people and then walk scot free. We have security around us and one of its thrusts is to smell and detect where these criminals will strike. These gangs come in vehicles in a manner that would have been well organised and they do this under the watchful eye of the police which is disturbing.

“The reaction from police is very slow. For those who are sleeping on duty heads will roll. I believe that the State hasn’t run out of resources and on that note decisive measures will be taken and those who are not performing their duties will go home. The police have a mandate to protect the people of Zimbabwe and they have to fulfill it. If people continue being attacked in this manner then it means we are not safe as people,” he said.

Comm Ncube said they had raised the Commissioner-General of the Police and were set to hold a closed door meeting with him on Friday to discuss the matter of rogue police officers and laxity within law enforcement agents. He said unnecessary loss of life through violence had to be stopped.

Comm Ncube said they had received numerous complainants from residents in Matabeleland South Province on police corruption, particularly in West Nicholson and Colleen Bawn areas.

He urged the media to expose such corrupt tendencies. Comm Ncube said the media had a role to amplify the voice of the masses.

He applauded churches for their numerous efforts to ensure peace prevailed in communities.

Comm Ncube urged the Gwanda Local Peace Committee to continue with its peace building efforts. He challenged the committee to address various issues of conflict which were being recorded in the community.

The commission, Comm Ncube said, was working together with Zimbabwe Christian Alliance to promote issues of peace building in Matabeleland South Province.

Also speaking during the same meeting, Zimbabwe Christian Alliance (ZCA) Executive Director, Reverend Useni Sibanda said the CCCOP programme sought to address issues of conflict within communities.

“As the Zimbabwe Christian Alliance we have been working with local peace committees to address issues of conflict within communities. The programme that we had initially launched under the banner Churches Convergence on Peace (CCOP) has come to an end and now we are extending the programme for a further one year 18 months under the name Churches Converging on Conflict and Peace (CCCOP). This programme seeks to promote peace after realising that trend of violence in mining areas. Further than that we have realised that there are conflicts that have emerged as a result of the Covid-19 pandemic and more work has to be done.

“Our objective is to ensure that communities are able to transform conflict and revert to dialogue. We are going to retrain local peace committees so that they can address new forms of conflict that have arisen. We will be working closely with the National Peace and Reconciliation Commission,” he said.

Also speaking during the meeting ZCA programmes officer Mrs Runyararo Chilenje said one of their objective was to strengthen and capacitate local peace committees as they had a crucial role to play in promoting peace within communities.

She said they were working with three local peace committees in the province in Gwanda, Matobo and Plumtree. Mrs Chilenje said each committee was supposed to develop its own peace plans.

 

 

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