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Oil prices down

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Oil prices down

Oil prices fell nearly 1 percent yesterday as investors expected Libya’s oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade.

Brent crude LCOc1 was down 56 cents, or nearly 0,9 percent, at $64,64 per barrel by 0748 GMT, after rising to its highest in more than a week on Monday. US West Texas Intermediate crude CLc1 was down 35 cents, or 0,6 percent, at $58,19 a barrel.

“The situation in Libya provided oil prices an early boost but the rally fizzled out as expectations remain that Libya’s oil production will eventually return to normal levels,” said Edward Moya, a market analyst with OANDA.

Two major oilfields in southwest Libya began shutting down on Sunday after a pipeline was closed off, potentially reducing national output to a fraction of its normal level, the country’s National Oil Corp (NOC) said. — Reuters.

Miners arrested for impersonating Police and Army officials

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Miners arrested for impersonating Police and Army officials

Police at Makosa in Mutoko have arrested seven illegal miners on allegations of masquerading as police officers and members of the Zimbabwe National Army.

They were arrested after invading Ngororombe Mine.

Police recovered three pairs of handcuffs and a Toyota Wish that was being used as a getaway vehicle.

The men invaded Ngororombe Mine, Chief Nechombo, Mudzi on 15/01/20 at about 1200 hours in a blue Toyota Wish AEV 9536. They allegedly arrested 2 mine workers, assaulted them with logs and took over the mining activities. A report was promptly made to the Police leading to their arrest and the recovery of 3 pairs of handcuffs, a button stick, and the Toyota wish vehicle.

Last week, 77 illegal miners were sentenced to two years in prison each by a circuit court in Shamva for illegal mining, while 112 got 50 days each on charges of criminal trespass.

The court remanded another 66 in custody pending trial and fined two for illegal possession of marijuana, one $80 (or 30 days) and one $500 (or five months).

More than 1 000 illegal structures have been demolished in the Mazowe area.

Gold price rises

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Gold price rises

Gold prices rose to a two-week high yesterday as the spread of a new virus in China stoked fears of a wider epidemic, sparking a sudden bout of risk aversion and sell-off in Asian stocks.

Spot gold prices touched their highest since January 8 at $1 568,35 and were up 0,1 percent to $1 563,01 per ounce by 0730 GMT. US gold futures were 0,3 percent higher at $1 564,10.

Asian shares slipped as the new coronavirus has spread to more Chinese cities and concerns mounted it could spread further with many travelling for the Lunar New Year holidays.

Gold prices were driven by “the rapid spread of the virus from Wuhan, China, which has caused panic”, said Margaret Yang Yan, a market analyst at CMC Markets.

“Chinese New Year holidays are going to worsen the situation as people are bound to travel in China ,” she added. — Reuters.

Kana MaShurugwi anotokuzeza

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Kana MaShurugwi anotokuzeza

An advert purported to be from Guard Alert has been making rounds on social media with the inscription kana MaShurugwi anotokuzeza meaning even the MaShurugwi (Machete gangs) will be be afraid of you.

See image Kana MaShurugwi anotokuzeza

Two arrested for stealing gold ore at a mine in Colleen Bawn

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Two arrested for stealing gold ore at a mine in Colleen Bawn

Mqhelisi Moyo (26) and Edmore Zulu (32) who were part of a 15 men gang armed with machetes, axes and logs have been arrested for allegedly raiding and stealing gold ore at a mine in Colleen Bawn.

The men, both from Spitzkop Medium Suburb were not asked to plead when they appeared before Gwanda magistrate, Mrs Nomagugu Sibanda facing a robbery charge.

They were remanded in custody to January 26 for trial. Prosecuting, Miss Glenda Nare said Moyo and Zulu, who were in the company of 13 others who are still at large, invaded Poly 4 Mine which belongs to Ms Grace Dube on December 4 at around 2 AM.

They allegedly stole 60 by 50kg bags of gold ore, a car battery, and two cellphones all valued at US$1 110.

“On 4 December at around 2 AM the two accused persons in the company of 13 others who are still at large drove to Poly 4 Mine in Colleen Bawn in two vehicles armed with machetes, logs, and axes.

“They found mine workers asleep in the open while others were asleep inside some makeshift tents. The gang began to assault the mineworkers using machetes and logs and the workers fled in different directions,” she said.

Miss Nare said the accused persons then loaded 60 by 50kg of gold ore into the two vehicles and also took a car battery and two cell phones before fleeing the scene.

She said the matter was reported to the police who conducted investigations leading to Moyo’s arrest.

Miss Nare said Moyo was arrested after he was identified by one of the workers as the driver of one of the two vehicles that were used in the raid.

She said Moyo then implicated Zulu leading to his arrest. She said the stolen property is worth US$1 101 and nothing was recovered.

Machete gangs have been terrorising people in gold-rich mining towns like Gwanda, Kwekwe, Kadoma, Bindura and Chegutu, where they are killing and sexually abusing gold miners and civilians.

Special courts have since been set up countrywide to deal specifically with organised machete gang attackers.

Speaking during the opening of the 2020 Legal Year last week, Chief Justice Luke Malaba said the specialised courts are expected to clamp down speedily and decisively on the machete gang menace following grisly murders, including that of a Kadoma police officer, robberies and vicious assaults.

Chief Justice Malaba strongly warned rogue elements behind the wave of machete and knife violence.

“As we speak, the country is gripped by another spate of violence perpetrated by the so-called machete gangs. The Judiciary acknowledges the work being undertaken by law enforcement agencies in bringing perpetrators of that violence to book,” he said.

Source: Chronicle

Mines Ministry officials to blame for illegal mining – Charumbira

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Mines Ministry officials to blame for illegal mining – Charumbira

The National Council of Chiefs President Chief Fortune Charumbira has blamed the chaotic situation in the artisanal mining sector on some officials in the Ministry of Mines and Mining Development, who corruptly facilitate the haphazard issuance of mining permits to prospectors even in villages.

The President Chief Fortune Charumbira in an interview yesterday on the sidelines of the chiefs’ strategic planning workshop underway in Mutare.

Zimbabwe is battling to bring sanity in the artisanal mining sector, which contributes significantly to gold production every year.

Illegal miners have mushroomed everywhere in search of gold.

The development has not only caused serious land degradation but has also resulted in battles for ownership of gold claims.

“The fight is not between the traditional leaders and the artisanal miners. The fight is between the traditional leaders and the Ministry of Mines and Mining Development.

“These people come with some papers and I have experienced it in the past three weeks in my area where three groups were given rights over the same claim.

“They are coming right into the village and saying we have been given papers here. We are coming with these big tanks which we have imported from China and we want to start mining. How can you start mining in the middle of someone’s kitchen in the village?” said Chief Charumbira.

“They say we have papers from the Ministry of Mines and Mining Development. We rejected and ordered them out. These people you call illegal miners if you go on the ground you will find that they have documentation from the Ministry of Mines and Mining Development,” he said.

Chief Charumbira said it was wrong to brand the artisanal miners’ illegal elements.

“I do not think there is anybody in this country who does mining without some papers that allow them but when they come to communities people label them illegal miners yet it is the Ministry of Mines and Mining Development that is issuing them these papers. I believe there is a bit of corruption at lower levels by these officers when they issue these papers,” said Chief Charumbira.

He, however, noted that some of the artisanal miners were rowdy and disrespectful.

“There is disrespect. Some of them come in our communities and start digging and destroying the nature and order of everything, but what I am saying is that the makorokozas have permission to come into our areas disregarding the interest of the local communities. That is where the war is,” he said.

Efforts to get a comment from the Ministry of Mines and Mining Development were fruitless.

Source: Mining Zimbabwe

GVT to only renew mining licenses to remitting companies

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GVT to only renew mining licenses to remitting companies

The government will only renew mining licenses to companies that produce receipts to show that they remit royalties to local municipalities, a top official has said.

Responding to requests by local Chiefs to ring-fence local community interests by ensuring that mining companies contribute to local development, Minister of Local Government, Public Works, and National Housing July Moyo said the government was willing to enforce compliance through licensing procedures.

Moyo said government through the Ministry of Mines has made an undertaking to ensure that only miners that pay royalties to local authorities will have their licenses renewed.

He said these are part of efforts by the government to address challenges cited by Chiefs and local municipalities to ensure that those funds from natural resources cascade to local economic development.

“Mining takes place in our rural areas, it is going to go ahead, and as chiefs, you want to have a say in how mining is taking place.

“Some Chiefs have complained to the Minister of Mines, in front of the President and the minister said that I will not renew any licenses of a miner until that miner has acquitted funds that they ought to give to a local council.

“As a government, we expect that these monies are channeled to communities for development purposes and we cannot have a situation where a miner comes and extracts what they want without remitting anything to the local council.

“We have laws already in place that requires that mining companies pay royalties to local authorities so the Minister of Mines has said that we will not renew licenses to companies that do not pay royalties,” said Moyo.

He added, “So the Minister will only renew a license once the miner has shown proof that they have paid their dues to a local authority, these rates will now have to be used and channeled towards development.”

Centre for Research and Development director James Mupfumi, however, rubbished these claims as playing to the gallery, arguing that the government should just enforce the current legal regime.

He said such pronouncements are only meant to appease audiences without any commitment from the government to solve the current challenges faced by local authorities to collect revenue from mining companies.

“There is no sincerity on the part of the government in terms of remitting revenues to local authorities or improving governance practices in the exploitation of natural resources in the country.

“It is the President who made reservations to the drafting of the Mines and Minerals Amendment Bill in 2018, up to now he is still holding on to the bill. If the President was sincere for power to be devolved and for these local authorities to have legal power to collect revenue this amendment bill could have been processed through parliament.

“We have made recommendations that local authorities must have powers to collect revenue and those powers must be enshrined in the amendment of Mines and Minerals Act and the President and his government are holding on to this bill because they do not want this power to be devolved.

“The sincerity of the President is realized when bills and laws governing natural resources are functional and processed through parliament,” said Mupfumi.

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Jumbo mine now a no go area

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Jumbo mine now a no go area

The ZRP says it has intensified the maintenance of law & order at the Jumbo area in Mazowe. A team of senior officers visited the area on progress check this afternoon. Members of the public are accordingly advised that Jumbo mine and its environs are now a no go area with immediate effect.

The Police force has warned those harboring miners and gangs that they risk getting arrested themselves.

Said the Police, “People within the area such as miners and farmers who may harbor illegal miners or machete gangs are advised that the long arm of the law will catch up with them”.

The Metalon owned Jumbo mine has been a magnet of illegal miners and has seen the influx of hundreds to access the precious mineral. The government is on a path to restore sanity in the Zimbabwe mining industry after an outcry of the emergence of Machete gangs.

Caledonia increases its shareholding in Blanket Mine to 64 per cent

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Caledonia increases its shareholding in Blanket Mine to 64 per cent

Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) is pleased to announce the completion of the purchase of an additional 15 percent shareholding in Blanket Mine (1983) (Private) Limited (“Blanket”).  

Summary

·    Today’s announcement marks the completion of the transaction first announced on November 6, 2018, following receipt of approvals from various Zimbabwean regulatory authorities.

·    The purchase of Fremiro’s 15 percent holding means Caledonia’s shareholding in Blanket is now 64 percent.

·    Gross consideration for Fremiro’s shareholding in Blanket is $16.667 million which has been settled through the cancellation of a loan between Fremiro and Caledonia and the issue of 727,266 new shares in Caledonia.

·    Fremiro will now hold approximately 6.3 percent of Caledonia’s enlarged issued share capital.

On November 6, 2018, Caledonia announced it had entered into a legally binding agreement with Fremiro Investments (Private) Limited (“Fremiro”) to purchase Fremiro’s 15 percent shareholding in Blanket.  Completion of the purchase required approvals from various Zimbabwean regulatory authorities, all of which have now been received.  The gross consideration for Fremiro’s shareholding in Blanket is $16.667 million which has been settled through the cancellation of the loan between Fremiro and the Company which stood at $11.467 million as at June 30, 2018; and the issue of 727,266 new shares in Caledonia at an issue price of $7.15 per share, being the closing price on the NYSE American at August 17, 2018.  Consequently, Caledonia’s shareholding in Blanket is 64 percent and Fremiro holds approximately 6.3 percent of Caledonia’s issued share capital.

Commenting on the transaction, Steve Curtis, Chief Executive Officer, said:

“I am pleased to report that the Company has concluded its transaction with Fremiro to increase Caledonia’s shareholding in Blanket to 64 percent. I would like to thank Fremiro for its support as a shareholder in Blanket during the last seven years and am confident that Fremiro, now as a significant shareholder in the Company, will continue to be supportive of Caledonia’s business going forward.”

Background

Fremiro acquired its shareholding in Blanket when Caledonia implemented transactions in 2012 to comply with the Zimbabwean Indigenisation and Economic Empowerment Act (the “Act”). As part of the transactions, Caledonia sold 41 percent of Blanket to the following indigenous Zimbabwean shareholders:

  • ·    Fremiro: 15 percent
  • ·    The National Indigenisation and Economic Empowerment Fund: 16 percent
  • ·    Blanket Employee Trust Services (Private) Limited: 10 percent

The financing of these acquisitions was facilitated through approximately $30 million of facilitation loans to the above parties apportioned pro-rata between the parties based on shareholding.

In addition, 10 percent of Blanket was donated to the local community in the form of the Gwanda Community Share Ownership Trust.

In March 2018 the Act was amended to remove the 51 percent indigenisation requirement for gold mining businesses; shortly thereafter, Caledonia and Fremiro agreed a transaction whereby Caledonia would purchase Fremiro’s shareholding in Blanket.

Per the Company’s announcement of November 6, 2018, Caledonia is issuing 727,266 common shares to Fremiro under the terms of the transaction. Application has been made by Caledonia for these shares to be admitted in the form of depositary interests to trading on AIM and it is anticipated that trading in such securities will commence at 8 am on or around January 24, 2020 (“Admission”).  Upon Admission, Caledonia’s issued share capital will be 11,515,860 common shares.  There are no shares held in treasury.  The total voting rights in the Company upon Admission are therefore 11,515,860 and this figure may be used by shareholders and depositary interest holders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company.

 

For further information please contact:

Caledonia Mining Corporation Plc

Mark Learmonth

Maurice Mason

 

Tel: +44 1534 679 800

Tel: +44 759 078 1139

Norton takes centre stage in formalisation of mining

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Former Chairperson of the Parliamentary Portfolio on Mines and Mining Development and Norton Legislator Hon Temba Peter Mliswa will this week host the Norton small scale mining regulation and formalisation with different stakeholders in a bid to improve and promote mining in Norton and Zimbabwe at large, Norton Miners Chairperson Privalege Moyo has said.

Rudairo Mapuranga

According to Moyo, Norton miners are ready to lead the way to sustainable and safe mining in Zimbabwe and have therefore classified the year 2020 as the year of production and shaping up of the mining industry.

The Norton miners chairperson also said that his association is working towards creating a security company that will protect all mining activities in the area from rogue elements like the rising machete gangs, thus they have decided to seek advice from the security and judiciary sectors at the meeting to be hosted by Hon Mliswa.

“2020 is a year we call for all hands on deck, so as Norton miners we would like all mining activities to start shaping up and become productive. As we plan for the 2020 mining, we also seek assurance from the legal side being the judiciary about the security of our miners and mines against the rogue elements who always find refuge in the loopholes of the law and get released. So we need to tie all loose ends as we move and plan forward.” said Moyo.

Moyo also said that his Association has invited big mines like Zimplats to grace their meeting with the former Chairperson of the parliamentary portfolio on mines that large-small mines come to recognize small scale mining so that they can help in the formalisation of this sector.

“Big mining houses need to recognise the existence of ASM and should always come in handy as big brothers to help or assist. Communities also need assurance from big mining houses in regard to their inclusion and involvement as well as benefits. Minerals are for us all as ZIMBABWEANS hence the need to share them equally. So once the mining is in full swing, then as a country we will be able to realise the benefits. Mines should not remain dominant for years due to speculative investment” the Norton Miners Chairperson said.

Moyo also said that this meeting was called for the miners to have full knowledge of the use it or lose it stance which will be carried out by the government of Zimbabwe on all mining concessions that are being held for speculative purposes.

“We are in support of use it or lose it, as that will bring our country out of the challenges we are facing. So, an all stakeholders meeting is very important for us as we start up the year. Miners and owners need to attend as this meeting to shape our way forward” Moyo said.

“Norton is faced with a soon to come urban expansion which will swallow most of the mining activities so there is a need to extract and rehabilitate so that the very land could be used for other developments than to hold the minerals and later on be sealed down by new projects. This is evidenced by the Udicorp housing development which has taken over a very rich gold area and converted it into a residential development.”

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