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Covid-19 strikes at Fidelity HQ

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  • Two test positive for Covid-19
  • Business as usual at all other Fidelity centres
  • Harare office shut-down for disinfecting

Two staffers at Zimbabwe’s sole gold buyer and exporter have tested positive for Covid-19. Fidelity Printers and Refiners (FPR) General Manager Mr. Fradreck Kunaka confirmed the development.

The two tested positive for Covid-19 after routine tests for all FPR employees at the Head office in Msasa.

“It is true that two of our members tested positive to Covid-19 here at the head office in Harare”, Kunaka said. “We have shut-down the head-office for disinfecting and we can only be back in the office after the offices have been disinfected and all those who were in touch with the affected isolated for the recommended period per WHO guidelines”.

Kunaka said it will be business as usual at the branches across the country.

“It is business as usual at other Fidelity branches country-wide as Harare is the only one with positively detected staff. Our other centres can handle business as it always is, the only affected are ones who usually visit our branches for Fire Assaying”.

About Covid-19

Coronavirus disease (COVID-19) is an infectious disease caused by a Coronavirus. Most people who fall sick with COVID-19 will experience mild to moderate symptoms and recover without special treatment.

HOW IT SPREADS

The virus that causes COVID-19 is mainly transmitted through droplets generated when an infected person coughs, sneezes, or exhales. These droplets are too heavy to hang in the air and quickly fall on floors or surfaces.
You can be infected by breathing in the virus if you are within close proximity of someone who has COVID-19, or by touching a contaminated surface and then your eyes, nose or mouth.

 

BREAKING: Fidelity staffer tests positive for Covid-19, Head office shutdown

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A Fidelity Printers and Refiners employee at the country’s sole buyer Head Office in Msasa has tested positive for Covid-19.

More to follow…

Fidelity official gold buying prices Wednesday 29 July 2020

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Fidelity Printers and Refiners official gold buying prices Tuesday 29 July 2020.

SG 90% AND ABOVE $55.84g
SG ABOVE 85% BUT BELOW 90% $54.91/g
SG ABOVE 80% BUT BELOW 85% $53.66/g
SG ABOVE 75% BUT BELOW 80% $53.04/g
SAMPLE BELOW 10g BUT ABOVE 5g $54.28/g
FIRE ASSAY CASH $56.16/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

Zimbabwe’s Agriculture Minister succumbs to Covid-19?

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Minister of Lands, Agriculture & Rural Resettlement Perence Shiri has died. Unconfirmed reports say Shiri died of Covid-19 illness.

Shiri was hospitalised after the death of his driver yesterday and passed away hours after.

Announcing on his Official twitter handle President Mnangagwa said “I am deeply saddened to inform the Nation of the death of the Minister of Agriculture, Air Chief Marshall (Rtd) Perrance Shiri, a long time friend and colleague. Cde Shiri was a true patriot, who devoted his life to the liberation, independence and service of his country.MHRIP”

Presidential spokesperson George Charamba yesterday said, “The minister’s driver died from the virus and it is only normal that the minister goes into self-isolation, and in the process miss cabinet, as a contact of his former driver.”

Covid-19

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus. The disease mostly affects the lungs. Although for most people COVID-19 causes only mild illness, it can make some people very ill. More rarely, the disease can be fatal. Older people and those with pre-existing medical conditions (such as high blood pressure, heart problems or diabetes) appear to be more vulnerable.

Using available preliminary data, the median time from onset to clinical recovery for mild cases is approximately 2 weeks and is 3-6 weeks for patients with severe or critical disease.

 

 

Gold continues on a upward trend

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Gold prices are likely to continue their upward journey as investors know that the gold price has broken significant resistance. This resistance level, formed in 2011, reached an all-time high at $1921. As of today, the gold price is trading at $1943 and has reached as far as $1981. The gold price is up nearly 28% YTD.

Gold prices have recorded the longest monthly winning streak since 2012. The gold chart below shows that the gold price has recorded four consecutive months of gains. We have not seen this kind of momentum since 2012.

Gold investors know that gold price has strong momentum. For them, the current rally is only the beginning. With a global dovish monetary policy and the central bank running their money printing machine at full pace, investors hope that the gold price will continue its rally until it touches $3,000 an ounce.

From the outset, this may seem bizarre, but with a loose monetary policy in place and a significant stock market crash hiding behind closed doors, the gold price will likely continue its run.

Meanwhile, the country’s sole gold buyer Fidelity printers and Refiners now pays 100%  in USD at possibly the highest price any buyer has to offer. Get today’s prices HERE

Forbes

 

Caledonia Mining to fund 20-MW solar project via stock sale

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Canada-based Caledonia Mining Corporation Plc on Friday said it plans to raise up to USD 13 million (EUR 11.1m) through a share sale to finance a nearly 20-MWp solar project at Blanket gold mine in Gwanda.

The company has signed a sales agreement with Cantor Fitzgerald & Co for the sales agent to sell up to USD 13 million in shares in Caledonia Mining on the New York Stock Exchange American. The company has also filed an application to the London Stock Exchange’s AIM market for a block admission of up to 800,000 new depositary interests, which represent the same number of shares in the company. The block admission should become effective today.

Caledonia Mining plans to build the solar power facility at the Blanket Mine in Gwanda in three 6.55-MW phases, with the total project expected to be worth up to USD 18 million. Excess power generated by the solar plant is planned to be fed into the grid under an agreement with the local utility.

In 2019, Caledonia Mining invited bids for an engineering, procurement and construction (EPC) contract for the project.

Renewables

Policy inconsistencies affecting the diamond sector – Mudenda

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THE country`s policies in the lucrative diamond mining sector should remain consistent so as to attract investment and protect investors’ property rights, the Speaker of Parliament Jacob Mudenda has demanded.

He made the call during a Review of Legislation and Policies Governing the Mining Industry in Zimbabwe organised by the Portfolio Committee on Mines and Mining Development in Mutare last week.

Mudenda pointed out in 2015 there was a policy shift by the government towards the consolidation of all diamond operations in Marange managed by the State-owned Zimbabwe Consolidated Diamond Company (ZCDC).

However, he said there were some challenges with the consolidation of diamond operations which were observed by Parliament in 2016.

“For instance, in 2015 there was a policy shift by the government towards the consolidation of all diamond operations in Marange managed by State-owned entity, Zimbabwe Consolidated Diamond Company (ZCDC). The policy thrust had its own challenges as was highlighted in a report by the Committee on Mines and Energy in 2016,” said Mudenda.

He highlighted some of the key findings by Mines and Energy Parliamentary Portfolio Committee included the lack of capitalisation of the ZCDC to operate effectively as well as a violation of the property rights of investors during consolidation.

“In 2018, there was another policy shift and the Marange diamonds fields were opened to all investors. Again, it is critical that our diamond mining policies remain consistent to attract much-needed investment.”

Mudenda added the Gold Trade Act should also have clear cut and consistent policies that protect the rights, safety, and well being of small-scale gold miners.

“There is no doubt that small-scale miners are making a significant contribution to the country`s economy. For instance, in 2017, the sector accounted for 53% of the country`s 24.8 tonnes of gold deliveries. Furthermore, this sector is a source of livelihood for over a million people,” said Mudenda.

As such, the Speaker said there was a need to also address policy gaps in the Gold Trade Act, especially clauses that criminalise the possession of gold and in turn disempower the small-scale miners.

“I must venture to observe that this has been one of the causes of gold leakages in the mining industry,” he said.

Mudenda further called for the need to formalise all artisanal and small-scale miners’ operations so that they operate under safe conditions.

“In the last few years, we have lost many artisanal miners through unsafe mining practices and conditions as recorded in Battlefields in Kadoma, Nugget mines in Matobo, just to mention the two.

“The Safety and Health Fund, envisaged under the Mines and Mineral Amendment Bill, should a go a long way in ameliorating the scourge of disaster bedevilling the artisanal and small-scale miners in their mining ventures,” he said.

NewsZimbabwe

Fidelity gold buying prices 28 July 2020

Fidelity Printers and Refiners official gold buying prices Tuesday 28 July 2020.

SG 90% AND ABOVE $55.81/g
SG ABOVE 85% BUT BELOW 90% $54.88/g
SG ABOVE 80% BUT BELOW 85% $53.63/g
SG ABOVE 75% BUT BELOW 80% $53.00/g
SAMPLE BELOW 10g BUT ABOVE 5g $54.25/g
FIRE ASSAY CASH $56.12/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

Telephone: +263 242-486670, +263 242-486694, +263 242-487131, +263 242-447810-5

MMCZ dismisses employee ZWL$2500 salary allegations

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The Minerals Marketing Corporation of Zimbabwe (MMCZ) has dismissed allegations by some of its employees engaged as monitors that there are earning ZWL$2 500 per month.

MMCZ is a parastatal under the purview of the Ministry of Mines and Mining Development. The entity is an exclusive agent for the marketing and selling of all minerals produced in Zimbabwe except silver and gold.

Some of the MMCZ monitors who preferred not to be named told Mining Zimbabwe that their salary was ridiculously low as it is far below the Poverty Datum Line.

In April, Zimbabwe’s poverty datum line spiked by 15.7 percent to ZWL$7 425 from ZWL$6 420 in March.
“…….…………………,” said one of the monitors preferring not to be named.

Of late, employers across the board have come under pressure trying to adjust workers’ salaries whose disposable incomes continue to be eroded by the relentless rising inflation.

According to Zimstat, the country’s year-on-year inflation in June stood at 737.26 percent while the month-on-month rate of inflation jumped to 31.66 percent in June from 15.23 percent previously.

Contacted for comment, MMCZ general manager Mr. Tongai Muzenda dismissed the allegations saying factoring the cost of living adjustment allowances, the monitors were earning around ZWL$10 000.

He said depending on one’s grade some of the MMCZ monitors are being paid more than ZWL$10.000 per month.
“What they are saying is not correct and depending on one’s grade and factoring the cost of living adjustment allowance, you would realise that some of them are actually earning more than ZWL$10 000 per month.

“So, whoever is saying they are earning ZWL$2.500 has decided not to tell the truth for the reason best known to them,” he said.

Taking into account the obtaining operational challenges businesses are grappling with, Mr. Muzenda said it is his view that MMCZ monitors are earning quite a good salary though not the best in light of the prevailing economic outlook.

“In my thinking, they are actually earning quite a good salary, though it is not the best because the prevailing economic environment is tough.”

Mr. Muzenda said in the interest of promoting public health and safety in the context of the Covid-19 pandemic, he has refused to address a public meeting that MMCZ monitors have called him for.

“Just recently, l don’t know who had incited them, to call for a public gathering with me and l have refused.

“Actually, my words to them were, ‘whoever does not want to adhere to the Covid-19 protocol and guidelines, is free to leave MMCZ’.

“We all know that there is Covid-19 and to curb the spread of the deadly respiratory viral infection, we have to abide by the guidelines announced by Government,” he said.

Mr. Muzenda said as part of a broader scope of precautionary measures and guidelines to fighting the spread of Covid-19, MMCZ has had all their workers tested.

“We have decongested our work premises by making sure that’s some employees work from home. Workers working from the work station, have to get approval from the respective head of departments, either myself or the deputy general manager,” he said.

Meanwhile, as of yesterday, the total number of confirmed Covid-19 cases stood at 2 512, including 518 recoveries and 34 deaths.

Man arrested for smuggling explosives in hearse

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South African Police have arrested a man at the border between South Africa and Zimbabwe after he was caught smuggling explosives in a hearse.

The suspect was towing a trailer branded with the name of a funeral undertaker in Gauteng when he was caught at Beitbridge earlier on Monday.

Police searched both the vehicle and the trailer and found 306 blasting cartridges as well as four detonating cords with a value of R700,000.

The police’s Motlafela Mojapelo: “Members of the South Africa Police Service working at the Beitbridge border post have arrested a 30-year-old man for allegedly smuggling explosives into the country using a funeral parlour branded vehicle. The suspect will appear in the Musina Magistrates Court soon on a charge of smuggling and possession of explosives.”

EWN