Mining ZimbabweLatest Mining News, Policy and Industry Updates

World Gold prices fell 2 per cent as investors opted for riskier assets following news of US President Donald Trump’s plans to restart the US economy and promising early data related to a potential COVID-19 treatment. Gold was down 1,8 per cent at $1,686.45 an ounce. Earlier this week, it scaled a seven-year peak on concerns over the worst recession in decades.

“The latest sentiment drift to the positive side and narrative that a plan to return to normal is now afoot are seeing spot gold trading back through $1,700-an-ounce technical support,” Saxo Bank analyst Ole Hansen said.

Global financial markets drew comfort from Trump’s plans for a gradual reopening of the US economy, overshadowing anxiety over data showing China that suffered its worst quarterly economic contraction on record. — Reuters.

• The Ministry is expected to make an announcement in due course
• All miners exempted 

President Emmerson Mnangagwa yesterday announced that the country’s lock-down had been further increased by 14 days and gave the green light for the mining industry to resume full-scale operations.

Business reporter

The highly anticipated decision brought relief to the Mining industry and miners who had not been exempted have already started preparing to return to work. The resumption of operations, however, is on condition that miners stay at their respective accommodation at their mines and are pre-tested ahead of the commencement of operations.

“I have now directed the Ministries of Health and Child Care, and that of Mines and Mining Development to work closely to ensure the workforce in the mining sector is immediately screened and tested ahead of resumed operations,” said Mnangagwa.

On enquiring, if Miners will need some clearance to begin operations Zimbabwe Miners Federation President Ms Henrietta Rushwaya said, “We stand guided by our Mines and Mining Development Minister Hon Winston Chitando on way forward after the announcement of the 2-week lockdown Extention by His Excellency”.

Mining Zimbabwe sent enquiries to the Mines Minister and by the time of publishing this article he had not responded.

Miner and Mining Consultant Edward Shakemore Fundira said, “Well, the President in his lockdown address has automatically exempted all miners to continue or to resume mining operations. We now await to hear guidelines of operations from the Ministry responsible for mines in conjunction with the Ministry of Health then we comply”.

“Also the President in his speech today highlighted that miners must be confined to their mining location, so we the mine owners are to provide decent accommodation for our employees at the mining locations in order to limit movements. There is need for miners and their employees to thoroughly observe W.H.O guidelines such as social distancing, practising good hygienic practices and also putting on Personal Protective Equipments all the time to prevent the spread of the disease”. Fundira concluded.

Zimbabwe President has announced the country has extended the lock-down. The lockdown is extended by 14days.

The Mining sector has however been allowed to resume operations only on conditions they remain at their respective workplace accommodation.

More to follow…

Ministry of Information and Publicity Permanent secretary has said the government will advise tomorrow if the Lock-down will ease as scheduled or extended.

Zimbabwe has been on lock-down since the 30th of last month. As at 17 April Zimbabwe had 24 confirmed cases, including three (3) deaths. Two (2) people have recovered.

Regarding the question of whether the #LockDownZim will be extended or not, and if extended, what shape that will take, we would like to advise that an announcement will be made tomorrow.

— Nick Mangwana (@nickmangwana) April 18, 2020

Gold is Zimbabwe’s most commonly mined mineral. It is the most preferred due to vastly available markets and also fetches the most sort after currency in Zimbabwe, the US$. Zimbabwe is home to over 500 000 Artisanal Small-scale Miners who are the biggest producers of the precious mineral at 60%.

Gold has many daily uses that we may not even be aware of. Below are some:-

Finances and Investing

Due to its high and standard return value, it has been used as currency for centuries. Even now one of the safe gold investment is to buy gold bars people buy Gold bars and it is considered as a safe asset. It seems like the last few years everything has been aligned to bring gold as the most preferred investment, raising the precious metal steeply into popularity. Now, investors all over the world are swarming to add gold bars to their portfolio.

In an indeterminate economy, gold has surfaced as a possible financial essential. People buy gold bars, gold coins and bullion as a common investment practice.

Dentistry and Medicine

Gold is considered as the best filling for cavities and crowns, bridges and other orthodontic appliances because the metal is ductile and can easily take shapes. It is also chemically passive and doesn’t react easily when missed with other metals. It is also easy to insert and is non-allergic. Dentists have used gold as the best substitute for misplaced/ dislocated teeth for ages.

Electronics and Computers:

Gold is of the top metals when it comes to being good conductors of electricity. It is able to carry electrical charges easily and because of this property, this metal is found in small portions in many electrical devices like mobile phones. Television sets, GPS devices. It is also sometimes found in computers and laptops for transferring data quickly.

Medals and Statues

Gold is considered as a highly auspicious and precious metal it is used in the making of winning medals for popular world games, championships and awards. Its beauty holds significance and a permanent place in the human eye. Because of its exceptional magnificence, it is also used in the making of religious statues and Idols.

Jewellery

As per statistics, about 80% of gold is converted into jewellery. It is the most standard use if gold and is common amongst all cultures. Because of its shine, luster and durable chattels, it is believed to bring prosperity and wealth in most of the cultures especially Asians who convert gold jewellery into Bangles, Gold rings, and necklace for women etc.

This precious metal is considered a treasured jewellery gift in Malaysia, illustrative of prosperity, affluence and success, and is often given during various occasions.

Source: mystory.com additional by Mining Zimbabwe