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Illegal brick moulders give Hwange torrid time

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Illegal brick moulders give Hwange torrid time

ILLEGAL brick moulders are wreaking havoc in Hwange Town where they are mining clay soil causing serious land degradation.

The activity has been going on for some years and reportedly escalated as many residents have resorted to brick moulding for a living. The worst affected areas are near Don Bosco Technical College, Truck Stop and Empumalanga where the Hwange Local Board (HLB) treatment plant is under threat.

The Don Bosco and Empumalanga sites are under HLB while the Truck Stop area is under Hwange Colliery Concession.

Some of the affected areas are set aside for housing projects. The illegal brick makers allegedly steal coal dust from Hwange Colliery Company mine sites which they mix with clay soil to make the bricks, with a ready market in Hwange, Victoria Falls and as far as Bulawayo where they sell them for US$0.10 cents per brick and about US$300 for 10 000 bricks.

Besides causing land degradation and deforestation, there is also a looming health hazard as the illegal brick moulders use sewer water from the defunct sewer plant and Kalope Stream in Empumalanga. Concerned residents have called upon the HLB to come up with a land rehabilitation plan and also regulate the activity.

“We are greatly disturbed by the increasing illegal brick moulding activities at Empumalanga treatment plant, Don Bosco and behind Truck Stop. This is causing alarming rates of land degradation and what is more disturbing is that some councillors, council officials and other senior people are also involved. Truck Stop is notorious for criminal activity and we fear that can happen in Empumalanga. Council should come up with a land rehabilitation plan and regulate brick moulding,” said Greater Whange Residents Trust coordinator Mr. Fidelis Chima.

There are concerns about lack of sustainable land use in the coal mining town.

Matabeleland North Environmental Management Agency (EMA) provincial manager Mrs Chipo Mpofu-Zuze said some offenders have been fined . She implored the local authority to enforce its by-laws to protect the environment.

“We have done inspections and issued out tickets to some of them because they had no authority to dig around and mould bricks. They should have an environmental management plan from the local authority. Some approached EMA saying they had no other source of income and they have regularised their activities. We approached Hwange Local Board, Hwange Rural District Council and Hwange Colliery Company ordering them to act and rehabilitate the land or designate land for such activities. The RDC has designated some land and seven groups of villagers each with around 35 households have received permits and are moulding bricks legally,” she said.

Responding to emailed questions, the HLB bemoaned resistance by the illegal brick makers but said efforts are being made to address the situation.

“The HLB is concerned about the rampant clay soil poaching activities being perpetrated by some unscrupulous individuals in the bushy areas of Empumalanga suburb for the sole purpose of brick moulding and the alarming rate of land degradation. Council acknowledges the prevailing economic challenges which could be one of the major reasons exacerbating the illegal activity. It has resulted in massive deforestation and proliferation of open pits which are becoming a danger to both human beings and animals with their existence being more hazardous during the rainy season. Furthermore, they are using sewer water from the defunct Empumalanga sewer plant that finds its way to Kalope stream and causing serious health hazards to adjacent communities in the event of a waterborne disease outbreak.”

The local authority said the Urban Councils Act does not permit developments such as soil abstraction within an urban area.

“HLB has penalised clay soil poachers through the Environmental Impact Assessment Protection Regulations Statutory Instrument (SI) 7/2007 in a bid to curb the illegal practice. However, council security has met resistance and hostility from the poachers while carrying their duties. We are working with HRDC and we are consulting various stakeholders including EMA, the District Development Coordinators office and security forces to help deal with illegal brick moulders.

“The local authority is currently in the process of amending its by-laws which will enable it to come up with stringent regulations. Allegations about council officials and councillors being involved in clay soil poaching and brick moulding activities haven’t come to our attention. If these allegations are true, such actions are unfortunate and regrettable as we expect council officials to be on the lead against such activities,” said the HLB.

The council environmental management committee is investigating the issue while the council is also working on rehabilitating some of the degraded areas.

Glencore strategy to underpin cobalt prices post covid-19

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Glencore strategy to underpin cobalt prices post covid-19

A year ago Glencore announced it was halting operations at its Mutanda copper-cobalt mine in the Congo, breathing life into a market that was trading at levels 70% below its peak, hit 18 months before.

Given that Mutanda is the world’s largest cobalt mine and responsible for around a fifth of global output in a market of just 135kt per year, market reaction was muted. Congo dominates world cobalt production and Mutanda was responsible for 60% of the Swiss commodities giant’s annual output.

GLENCORE HAS PLACED A STRATEGIC FOCUS ON FORWARD SELLING ITS BUILT-UP HYDROXIDE STOCKS

While mine output has been largely undisturbed in the Congo during covid-19, most of the material is shipped through the South African port of Durban, which had been in lockdown for extended periods earlier this year.

Benchmark Mineral Intelligence, a battery supply chain and price discovery agency, reports cobalt hydroxide (crystalline form produced at mines containing 20–40% cobalt) prices averaged $21,475 a tonne (100% Co, CIF Asia) in July, up 26% from the same month last year.

Benchmark says ongoing logistics problems led to a lack of material on the spot market in China. That caused a jump in payables and prices north of $23,000 a tonne for immediate delivery of cobalt going into August.

Source: Benchmark Mineral Intelligence

While disruptions along the Congo-South Africa-China route may ease over the rest of the year and more abundant supply could put pressure on prices again, a new report suggests Glencore’s strategy (similarly employed in the zinc market where the company also holds sway over a chunk of the market) could underpin cobalt prices over the medium term.

Roskill, a London-based metal and mineral research firm, says Glencore has signed several agreements with downstream lithium-ion cathode, cell and original equipment manufacturers customers, including Tesla, Korean giants Samsung and SK Innovation, and European battery manufacturer Umicore.

Glencore has placed a strategic focus on forward selling its built-up hydroxide stocks, as well as future production from Katanga in the DRC (which is still operating) and cobalt metal from Murrin Murrin in Australia (which is destined for BMW).

Roskill expects that Mutanda, in the south of the country near the Zambian border, will remain under care and maintenance for the next two years at least. This will allow Glencore to complete optimisation studies around the transition from oxide to sulphide ore and provide enough time for the market to recover.

Mutanda also produces around 200,000 tonnes of copper per year and when cobalt was trading at its highs in 2018, the battery raw material accounted for around half of the revenues from the operation_Mining.Com

IAMGOLD sale of Mali mine delayed amid coup

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IAMGOLD sale of Mali mine delayed amid coup

Canada’s IAMGOLD (TSX: IMG) (NYSE: IAG) has delayed the sale process for its Sadiola gold mine in Mali, a joint venture with South Africa’s AngloGold Ashanti (JSE:ANG) (NYSE:AU), as the country is reeling from a coup, the second in less than 10 years.

The Toronto-based miner and its partner reached in December a $105 million deal to sell their 82% combined stake (41% each) in the gold project to Australia’s Allied Gold Corp.

The transaction was expected to close in April, but the coronavirus pandemic affected the timeline.

PRESIDENT IBRAHIM BOUBACAR KEITA RESIGNED ON TUESDAY AFTER SEVEN YEARS AS A HEAD OF STATE AND DISSOLVED PARLIAMENT HOURS AFTER SOLDIERS DETAINED HIM AT GUNPOINT AND SEIZED POWER

Mali President Ibrahim Boubacar Keita resigned on Tuesday after seven years as a head of state and dissolved parliament hours after soldiers detained him at gunpoint and seized power in a coup.

Tuesday’s events sparked international condemnation and are likely to further destabilize the West African nation, following months of anti-government mass protests and a rising insurgency from Islamist militants.

On Wednesday, Colonel Assimi Goita declared himself the leader of the military figures behind the coup — a group who identify themselves as the National Committee for the Salvation of People (CNSP).

Experts believe that miners operating in the country’s west and south are unlikely to face any significant threats to their assets. They will, however, have to deal with disruptions, including the imposition of a nightly curfew and the closure of all Malian borders, said Alexandre Raymakers, senior Africa analyst at risk analysis company Verisk Maplecroft.

Mining companies should also expect substantial administrative delays when dealing with authorities as government structures will be paralyzed by the ongoing political crisis, Raymakers noted.

Mines and petroleum minister Lelenta Hawa Baba Bah and her closest associates are unlikely to return to the ministry, however operators can expect some form of continuity as senior civil servants will remain in post, he said.

The analyst added that the Economic Community of West African States (ECOWAS) sanctions will involve the closure of land and air borders paralysing operators’ export routes and logistical lines.

“Considering the fragility of the Malian economy, we do not expect a new transitional government to drastically alter government policy towards the country’s mining sector,” Raymakers said. “Elites from all walks of the Malian political sphere welcome foreign investment in the mining sector as a crucial part of the economy.”

IAMGOLD’s founding asset

Sadiola, one of the three assets AngloGold Ashanti put on the chopping block this year and IAMGOLD’s founding asset, is also owned by the Mali’s government, which has an 18% interest.

“We note that the only outstanding matter is the signature of the prevailing government authorities,” IAMGOLD spokeswoman Indi Gopinathan told Reuters. She did not provide an estimate on closing.

The open-pit mine is near Mali’s border with Senegal, about 70 km south of the town of Kayes, and about 510 km northwest of the Mali capital of Bamako.

According to a recent pre-feasibility study, however, Sadiola could produce between 400,000 and 500,000 ounces of gold per year with the addition of the Sadiola Deep sulphide project_Mining.Com

Gem Diamonds finds 442 carat rough at Letšeng mine

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Gem Diamonds finds 442 carat rough at Letšeng mine

Africa-focused Gem Diamonds (LON: GEMD) has found a 442-carat type II rough at its iconic Letšeng mine in Lesotho.

Gem Diamonds finds 442 carat rough at Letšeng mine
The 442 carat Type II diamond found at Letšeng. (Image courtesy of Gem Diamonds.)

The diamond, the company said, is one of the largest gem-quality rocks that have been recovered this year.

Chief executive Clifford Elphick said a portion of the proceeds from the sale of the diamond will be used to fund a special community project approved by the Lesotho government.

Since acquiring Letšeng in 2006, Gem Diamonds has found more than 60 white gem-quality diamonds over 100 carats each, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.

THE TYPE II WITHE DIAMOND IS ONE OF THE LARGEST GEM QUALITY ROCKS RECOVERED THIS YEAR

The last stone over 100 carats Gem Diamonds unearthed at the mine was a 183-carat white, Type IIa rock, in February.

At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is also one of the world’s highest diamond mines.

The biggest rough ever found was the 3,106-carat Cullinan, dug near Pretoria, South Africa, in 1905. It was later cut into several stones, including the First Star of Africa and the Second Star of Africa, which are part of Britain’s Crown Jewels held in the Tower of London.

Lucara Diamond’s (TSX:LUC) 1,758-carat Sewelô, found in 2019, holds the second-biggest diamond in record title, while the same company’s 1,109-carat Lesedi La Rona and the 995-carat Excelsior are considered the third- and fourth-largest diamonds ever found.

In October, Gem Diamonds announced that the Lesotho government had renewed the Letšeng mining lease for another 10 years, and granted it exclusive rights for further renewals_Mining.Com

AngloGold must keep South Africa listing

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AngloGold must keep South Africa listing

AngloGold Ashanti will have to keep trading shares in South Africa to conclude the sale of its last remaining assets in the country to rival Harmony Gold, a government official said on Friday.

The company, which announced the sale of its remaining asset in the home country earlier this year for $300 million, must also keep its headquarters in Johannesburg, the source from the Department of Mineral Resources and Energy told Bloomberg.

AngloGold Ashanti first revealed plans to sell Mponeng, the world’s deepest mine and its last underground operation in South Africa, in May last year.

ANGLOGOLD MUST ALSO KEEP ITS HEADQUARTERS IN JOHANNESBURG, THE DEPARTMENT OF MINERAL RESOURCES AND ENERGY SAID

Harmony Gold expressed interest in the mine and related assets a few months later. The acquisition of AngloGold’s operations in South Africa, it said at the time, would help it sustain growth and replace capacity coming from its Masimong and Unisel mines, which are running out of ore.

The sale would mark AngloGold’s exit from South Africa to focus on more profitable mines in Ghana, Australia and the Americas.

The company, which recently lost Kelvin Dushnisky as chief executive, was born out of the mines bought and built by Anglo American (LON: AAL), the mining mammoth founded by the Oppenheimer family more than a century ago.

End of an era

The company was the dominant gold miner for decades, but progressively became weaker as it closed and sold old mines in South Africa, in favour of offshore investments.

Harmony’s chief executive officer, Peter Steenkamp, has repeatedly said that South Africa is its main investment target.

South Africa’s gold industry, however, continues to face mounting challenges, including geological and safety aspects of extracting ore from the world’s deepest mines.

Harmony is betting on recreating the successful strategy applied after it bought Anglo’s Moab Khotsong mine in 2017. Half of that money has already been paid back, Steenkamp said_Mining.Com

Minerals not benefiting the country, Mtisi

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Minerals not benefiting the country, Mtisi

Mineral resources in Zimbabwe are being lost and not benefiting the country except a few companies and individuals especially in the gold and diamond sectors.

Speaking in an a-no-holds-barred interview with Open Parly ZW, Zimbabwe Environmental Law Association (ZELA) Deputy Director Shamiso Mtisi said that despite the country having a widespread of activities from the gold and the diamond sector, nothing is there to show for it as minerals are lost to alternative markets.

The ZELA Director said that the government is resisting formalisation of the mining sector and its strict regulatory policies have contributed greatly to the loss of minerals to the alternative markets.

Mtisi said instead of the people benefiting from the rich resources the country has, violence, poor roads, poor schools, and health facilities are all that the government and mining companies have rewarded communities with.

“We have a lot of mineral resources being lost and not benefiting the country, except a few companies and individuals especially in the gold and diamond sectors. Until recently, Fidelity Printers has been fiddling with gold prices for a long time and not offering gold miners market price for gold and this drove a lot of the gold into the black market. The Licensing of gold buying agents is questionable.

“At the same time the government is resisting formalising or passing a law to regulate and derive revenues from Artisanal Miners yet there has been an explosion of many people, including youths and women going into artisanal gold mining. Many of them sell their gold to the black market.

“In the diamond sector, Zimbabwe has nothing to show from the Diamond mining activities in Marange for example. The national fiscus is dry, communities are poor, no proper road infrastructure exists in Marange, inadequate schools facilities, and health centers.” Mtisi said.

According to Mtisi, the government has failed to deal with the issues of corruption and violence in the mining sector, therefore, a chief penetrator in making sure that the rewards of the land are never to benefit citizens.

He said that the bad reputation of the government on the international scene has also contributed to buyers from India and the United Arab Emirates taking advantage of the situation and buy our minerals at very low prices for resale at a premium.

Mtisi advised the government to fix the poor image of Marange diamonds by curbing human rights violations, curbing corruption, supporting reforms in the Kimberley process to enable it to investigate cases of human rights abuses in different countries.

“All that we hear on a daily basis are human rights violations and no good news from Marange. It’s sad.  The government has dismally failed. Corruption has flourished.

“As a result, Zimbabwe diamonds are being sold on the cheap markets and are undervalued because buyers from India and Dubai (UAE) are taking advantage of the bad reputation to get cheaper diamonds and resell at a premium. Kimberley Process statistics of diamond production and exports from Zimbabwe show all this I am talking about. So Zimbabwe should fix the poor image of Marange diamonds by curbing human rights violations, curbing corruption, supporting reforms in the Kimberley process to enable it to investigate cases of human rights abuses in different countries,” he said.

Many mining companies are not interested in community development programmes that are sustainable or that bring income. They mostly focus on Corporate Social Responsibility actions and handouts that don’t change lives. However, there are some companies that have made efforts to improve community livelihoods and programmes including ZIMPLATS, MIMOSA, and Murowa among others.

Chinese, Artisanal miners major contributors to depleting the environment

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Chinese, Artisanal miners major contributors to depleting the environment

Zimbabwe Environmental Law Association (ZELA) Deputy Director Shamiso Mtisi speaking in an a-no-holds-barred interview with Open Parly ZW said artisanal miners and Chinese mining operations are at the forefront in damaging the country’s natural environment.

Mtisi said that the Chinese and artisanal gold miners do not rehabilitate the environment after mining although has been a known major contributor to the depletion of natural resources and the environment.

According to Mtisi, the recklessness by the Chinese not to rehabilitate land after mining has caused water pollution, air pollution, land degradation, loss of life and in some cases displacement of communities.

“Mining has been a major contributor to the depletion of natural resources & the environment. Mining activities are encroaching into protected areas and in cases where mining takes place some companies, especially the Chinese & artisanal gold miners do not rehabilitate the environment after mining. This has caused land degradation, water pollution, air pollution, displacement of communities and loss of land” said Mtisi.

The ZELA Deputy Director said it was important for the government to license artisanal miners so that they can be regulated. He said that artisanal miners were important to national development because they contribute over 60 percent of gold deliveries to the country’s sole gold buyer and exporter.

“We need licenced artisanal miners who can mine responsibly and can be regulated. They are important for the economy. If you look at gold production figures for 2019 more than 60% of gold deliveries were from the artisanal and small-scale miners, although the Government does not want to formalize artisanal miners.”

“Government wants their gold, but not interested in regulating their operations-this is an absurdity. So we need artisanal miners to be given permits and required to adopt environmental rehabilitation programmes as is happening with Small Scale miners who now have to adopt Environmental Management Plans with the assistance of the Environmental a Management Agency,” he said.

Mtisi also said that the government should amend the Mines and Minerals Act by including a new class of mining licence or permit for artisanal mining reserved for citizens. Mtisi said that the Environmental Management Agency (EMA) had already developed regulations management plans to be used by artisanal miners. The ZELA Deputy Director elaborated saying that licensed miners can give artisanal miners tributary agreements as a way of regularising them.

“Zimbabwe should amend the Mines and Minerals Act by including a new class of mining licence or permit for artisanal mining reserved for Zimbabweans. This is not new Sierra Leone, Liberia, Philippines and many other countries have such licences. EMA has already developed regulations on environmental management plans which can be used by artisanal miners.

“Alternatively, artisanal mining can be effectively managed through the use of Tributary Agreements where holders of mining licences or companies holding mining claims can enter into agreements with artisanal miners to mine on their land and the artisanal miners pay or share proceeds with the claim owner, and includes some environmental rehabilitation programmes. This model appears to be applied at the Shurugwi Development Association.” the ZELA Deputy Director said.

Zimbabwe Environmental Law Association has a training programme for artisanal miners on mining legislation, safety, health and environmental rights. This covers different parts of the country. The programme includes the provision of mining equipment, mapping of artisanal mining sites in Runde, training on responsible sourcing and business & human rights and registering women groups as legal entities to start artisanal and small scale mining operations.

Chinese mining operations not providing basic PPEs, ZDAWU

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Chinese mining operations not providing basic PPEs, ZDAWU

Zimbabwe Diamond and Allied Worker’s Union (ZDAWU) said Chinese owned mining operations are exposing their workers to Covid-19 because they do not respect or observe the law despite the fact that corona cases are rapidly rising in Zimbabwe.

Through a statement issued by the Union’s General Secretary, ZDAWU Justice Chinhema said Chinese owned mining operations are failing to provide adequate basic PPEs to their workers.

“Chinese owned mining operations do not observe or respect the law. They don’t provide adequate basic PPEs to their workers, no proper ablution facilities and safe water, poor accommodation and staying arrangements, and workers are provided with poor quality face masks made of foil paper” the Union said.

According to the Union, the mines have not done any compulsory COVID-19 testing conflicting the provisions of the law which stipulates that all employees shall undergo testing for COVID-19.

“Most mines have not done any compulsory Covid-19 tests and are relying on temperature checks contrary to the provisions of the law which stipulates that employees shall undergo compulsory Covid-19 testing,” Chinhema said.

ZDAWU also said that small scale and artisanal mining operations are poising a very serious threat to the mining community in as far as the transmission of COVID-19 is concerned as there is no control of the movement of people, no records keeping of visitors, no PPE among other important provisions.

“Small scale mining operations and artisanal mining are a serious risk to communities and the country at large. There is no control on the movement of people from one area to another, one mine to another, no record keeping of any visitors, clients or customers, no provision of PPE, safe water, ablution facilities, no social distancing at all and they stay in crowded makeshift accommodation.” Said ZDAWU.

Due to the limited presence of the law enforcement agents in the areas operated by small scale miners, people tend to carry out unregulated business and activities for example vendors who sell groceries and other wares leading to overcrowding in these areas. These activities are common and rampant in Matebeleland South Province making this province an epicentre of the virus in the Mining Industry. The most affected areas in the mining sector are Filabusi, Silobela, Shurugwi, Mutoko, and Kadoma.

According to ZDAWU, most large scale mining companies have tried their best to put conditions and measures that protect workers from contracting Covid-19 at the workplace but did not put measures and conditions that protect workers from cross transmitting the virus from families and neighbours whom they stay within the compounds.

As the country continues to experience infections and deaths from Covid-19 the mining sector is slowly recording cases of positive infections of COVID -19.

INFECTION STATICS IN MINES TO DATE

CompanyEmployees InfectedProvince
How Mine30Mat South
Hwange1Mat North
Unki51Midlands
ZCDC5Manicaland

As can be seen in the table above, How Mine in Matabeleland South Province has more cases of infection at the time of the production of this report.

However, the seemingly low cases recorded across the mining industry is not a reflection that the pandemic has not affected this sector but rather a result of lack of massive testing of workers by employers as employees were only subjected to temperature test which seems to be common but ineffective.

Covid-19: Mine workers recommend temporary shutdown of Mines

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Covid-19: Mine workers recommend temporary shutdown of Mines

In an attempt to curb the spread of Covid-19 in the Mining sector mine workers under Zimbabwe Diamond and Allied Workers Union (ZDAWU) have recommended temporally shut down of all mines for a period of 1-2 weeks to allow compulsory testing of mine workers and families of workers and massive disinfection of workplaces, compounds, and all areas surrounding mines.

Through a statement issued by ZDAWU General Secretary Justice Chinhema, on Wednesday, the union consulted mine workers and miners to see the temporary closure of the mining sector as a way of curbing the spread of the Coronavirus which has already attacked the mining industry.

“The union after consultation with the general membership in the mining industry recommends the following: Temporally shut down of all mines for a period of 1-2 weeks to allow compulsory testing of mine workers and families of such workers who stay in mine compounds or who have been staying in these compounds.  Massive disinfection of workplaces, compounds, and all areas surrounding the mine,” said Chinhema.

The mineworkers also recommended that a task force responsible for the restriction of the virus in the mining sector be created as a way of building a strong team with different water holding ideas, according to the statement, all major mining stakeholders should be part of this joint task force.

“Compulsory joint task force that includes officials from Chamber of Mines, Zimbabwe Miners Federation, Trade Union (ZDAMWU), Ministry of Mines, Ministry of Labour, National Social Security Scheme (NSSA), Mining Industry Pension Fund (MIPF), Police, National Employment Council (NEC) and all other mining industry stakeholders.” The statement reads in part.

ZDAWU also recommended Covid-19 awareness campaigns to the mining community, the union recommended that all media platforms should be used to spread the dangers of the virus in the mining community.

“Awareness campaigns through the printing of materials, radio shows in all mining communities particularly artisanal mining operated communities.” reads the statement.

The union also recommended the government to go hard on the mining community in making sure that government COVID-19 measures and guidelines are adhered to. It also advised the government to consider giving a COVID-19 allowance to the miners.

1. “Deterrent punitive laws against employers or persons who breach the set down guidelines to prevent Covid-19.

2. Serious enforcement of lockdown regulations by law enforcement agencies (police) in all mining communities

3. As a last resort, the complete shutdown of all mines that violate COVID-19 regulations.

4. Consider a COVID-19 allowance to all mineworkers since the sector was declared an essential service.

5. Strict control measures of movement of people to and from the mining compounds. Strict vetting of visitors or family members who visit workers and where infection occurs contact tracing should be immediately carried out.

6. Ensure that Gold Milling centres adhere to the stipulated restrictions to prevent the spread of Covid-19.” Said Chinhema.

According to Chinhema, the union needs to make a radical approach in dealing with the threats of the pandemic in order to save lives and safeguard the general safety and the health of workers in the mining industry.

Limited flights cause gold late payments

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Limited flights cause gold late payments

Fidelity Printers and Refiners (FPR) General Manager Mr. Fradreck Kunaka has blamed limited flights into the country as the major contributor to late payments and cash shortages from the country’s sole gold buyer and exporter.

According to Kunaka the Covid-19 pandemic has limited incoming and outgoing flights which have made the coming of paper money to Zimbabwe very limited, this has also led the shipping of gold to be slowed thus causing a disruption in cash supply.

“There are cash shortages at Fidelity due to the cash movement disruption brought about by the COVID 19 pandemic this means that flights that ship money to Zimbabwe are now limited,” Kunaka said.

In similar circumstances, South African gold refiner RAND REFINERY has limited shipping gold to London because of a lack of commercial flights, adding to the disruption that’s upending the physical bullion market.

Gold miners have been complaining that late payments are forcing them to halt production whilst waiting for payments which has reduced gold production.

Statistics from FPR show that gold deliveries for the month of July tumbled by a staggering 49,3 percent compared to the same month in 2019 after miners delivered only 1 406 tonnes this July compared to 2 776 tonnes in the same month last year.

 

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