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Magara to join Weir Group board in 2021

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Magara to join Weir Group board in 2021

Zimbabwean born Ben Magara and Srinivasan Venkatakrishnan will join the board of global engineering group Weir as non-executive directors from January 19, 2021.

Both Venkatakrishnan, who is popularly known as Venkat, and 2019’s most influential individual in Zimbabwe mining, Ben Magara have extensive experience leading global mining businesses, Weir said in a statement on November 2.

Venkat previously served as CEO of both Vedanta Resources and AngloGold Ashanti, while Magara had been CEO of platinum producer Lonmin, after having previously held a number of senior roles at Anglo American.

Appointed Lonmin boss in July 2013 at the world’s third-largest platinum mining company, Magara was tasked with improving industrial relations and guiding the platinum miner’s turnaround strategy after strikes the prior year triggered violence which killed 46 people including 34 strikers shot dead by police in a single day at its Marikana mine. After a four-year turnaround strategy, Lonmin under Magara made a profit of R1,4billion. Lonmin was later in 2019 sold for US$400million.

Magara has a degree in Mining Engineering from the University of Zimbabwe.

Remains of 20 year old miner to be laid to rest tommorrow

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Remains of 20 year old miner to be laid to rest tommorrow

Shingai Gwatidzo one of the miners who lost his life underground at Task Mine after a shaft collapse’s remains have been retrieved and will be laid to rest tomorrow morning.

Shingai’s father who has been on-site from the day of the announcement of the unfortunate news said the journey has been difficult but he is thankful his son will finally be laid to rest.

“We are on our way going home with Shingai’s body and burial will be tomorrow morning. Thanks for your support and l pray kuti vana vawanikwe,” Mr Gwatidzo said.

Shingai Gwatidzo was a form four student who decided to spend his time making extra money when schools were shut down due to the COVID-19 pandemic lock-down.

Constantino Dzinoreva (47), Charles Mutume (31), and brothers Crynos Nyamukanga (44) Munashe Christian (17) remains have not yet been retrieved from the underground since the 8th of September 2020 but signs are positive as the five “Task Five” worked as a team.

Task Mining Syndicate (Pvt) Ltd Chairman Mr. Timothy Masviba said the journey has been tough but spirited efforts, resilience and determination have finally brought results.

He also appealed for help from well-wishers in getting help with burial expenses, coffins, food for rescuers and families.

See Video Interview below as Masviba narrates the difficult journey to date:-

 

 

Just In: One body retrieved at Task Mine

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Just In: One body retrieved at Task Mine

A single body has been retrieved underground at Task Mining Syndicate in Chegutu. The body belongs to one of five missing miners who have been trapped underground after a shaft collapsed on the 8th of September 2020.

This is a developing story…

Fidelity official gold buying prices Friday 30 October 2020

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Fidelity official gold buying prices Friday 30 October 2020

Fidelity Printers and Refiners (FPR) official gold buying prices Friday 30 October 2020

  • SG 90% AND ABOVE $53.81/g
  • SG ABOVE 85% BUT BELOW 90% $52.91/g
  • SG ABOVE 80% BUT BELOW 85% $51.71/g
  • SG ABOVE 75% BUT BELOW 80% $51.11/g
  • SAMPLE BELOW 10g BUT ABOVE 5g $52.31/g
  • FIRE ASSAY CASH $54.11/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

BREAKING: Rescuers finally reach trapped miners at Task Mine

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BREAKING: Rescuers finally reach trapped miners at Task Mine

Rescuers have reached bodies of the five trapped miners at Task Mine in Chegutu.

The miners have been trapped underground since the 8th of September 2020 after a shaft collapse trapped the five underground.

Confirming the development Task Mine Syndicate (Pvt) Ltd chairman Mr Masviba said, “We are glad that team efforts have finally paid off. Although we are sad to have lost collegues, we are happy families will find closure”

This is a developing story. More to follow…

More to follow…

 

ZMF suspends Rushwaya

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ZMF suspends Rushwaya

The Zimbabwe Miners Federation has suspended with immediate effect its President Ms. Henrietta Rushwaya.

The association’s decision-making body which consists of members of the national executive, the council and regional representatives suspended Rushwaya for putting the name of the association into disrepute. Rushwaya was recently arrested at Robert Mugabe International airport when she was found in possession of 6kg of gold destined for Dubai allegedly without proper documentation.

Announcing the decision the ZMF national chairperson Mr. Makumba Njenje said Rushwaya’s deputy, Mr. Marufu Sithole would be acting President effective immediately.

Rushwaya is expected in court tomorrow and rumours of some members of the executive jostling to take over from her have started surfacing.

More to follow…

 

Fidelity gold buying prices Thursday 29 September 2020

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Fidelity gold buying prices Thursday 29 September 2020

Fidelity Printers and Refiners (FPR) official gold buying prices Thursday 29 September 2020

  • SG 90% AND ABOVE $53,80/g
  • SG ABOVE 85% BUT BELOW 90% $52,90/g
  • SG ABOVE 80% BUT BELOW 85% $ 51,70 /g
  • SG ABOVE 75% BUT BELOW 80% $51,10/g
  • SAMPLE BELOW 10g BUT ABOVE 5g $ 52,30/g
  • EXCHANGE RATE $81,3531

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

State of the Mining Industry Report Prospects for 2021 Full document

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State of the Mining Industry Report Prospects for 2021 Full document

State of the Mining Industry Report Prospects for 2021 document.

2020 Survey Report

Mineral production increases

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Mineral production increases

The Zimbabwe Mining industry has managed to remain in business with sustainable, profitable and balanced production results regardless of the challenges faced in the mining sector, reported the Mining Industry Survey Report Prospects for 2021.

Shantel Chisango

Speaking at the Mining Industry Survey Report, Chamber of Mines (COM) President said the mining sector has not been deteriorating in production since the advent of the COVID 19 pandemic.

“Covid 19 has been a socio-economic disaster and has also affected even the mining industry but we are happy that there has been a balanced production of minerals despite the pandemic.”

The Mining Industry Survey Report confirmed that the number of employees in the mining sector this coming year is likely to be maintained.

Adding on to the report, the survey has shown that miners are pessimistic about 2021 production for there lacks competition in the industry as well as adequate capital from financial investors.

Miners have pleaded with financial sector providers to respond accordingly in terms of capital provision.

Meanwhile, Mines and Mining Development Minister, Winston Chitando has encouraged miners to take
advantage of the high prices of minerals that are available.

Chitando added that despite the negative effects brought by covid19 there is a framework policy being put into place to ensure increased production of particular minerals.

“The pandemic has negatively affected the economy without the mining industry being spared but there are measures being taken to make sure that production in minerals is boosted!”

Regardless of the positive outcome in the mining industry, it is unfortunate that miners are still facing challenges in business.

The Mining report has shown that country risks such as Covid19, lack of investment and the scarcity of capital are likely to cause a decline in production.

Furthermore, Chitando has encouraged all investors and banks to support miners with financial provision to help in the production of minerals.

“Our industry must thrive for the benefit of all stakeholders,” added Chitando.

See the full presentation below…

Mining Industry Prospects for 2021 Presentation

Rushwaya lawyers press briefing

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Rushwaya lawyers press briefing
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