Zimbabwe Artisanal and Small Scale Miners Federation (ZASMF) wishes to inform all invited members that the official launch of the organization is rescheduled to Thursday the 4th of April 2019.
The event which was supposed to take place on Wednesday the 3rd of April will be held at King Solomon’s Mines Hotel in Kwekwe the day after on 1000hrs.
The Zimbabwe Artisanal and Small-Scale Miners’ Federation is a body that was formed after the disbandment of Zimbabwe Miners Federation (ZMF) which represented small scale miners that where registered and reconciled by the ministry of mines.
This new body however will represent both registered and unregistered miners after they discover that both were significant in the high delivery of gold to Fidelity Printers and Refiners.
The official launch is therefore held in order to create a road map on how small scale and artisanal miners will be accommodated by the new body.
For information contact 0778 992 384, 0772 722 031, 0772 986 436
ZIMBABWE’S chrome market is dominated by predatory buyers who have formed domestic cartels which purchase chrome at an average price valued at 15% of export sales prices.
According to a chrome producers draft policy, there are great inefficiencies within both the export and domestic chrome ore supply processes.
“Chrome ore producers face major growth challenges became there is a limited access to international export market which reduces the opportunities for chrome producers to earn much-needed foreign currency to help resuscitate operations,” reads the draft policy in part.
“In addition, the domestic chrome market is dominated by predatory buyers who have formed domestic cartels which purchase chrome at an average price which is valued at 15% of export sales prices.”
The document notes that the cartels supply both the domestic smelters as well as the export communities, thereby reducing the incentive for international buyers to purchase chrome at the Minerals Marketing Corporation of Zimbabwe (MMCZ)’s market-based prices since they use their local operations which remain largely unregulated to buy at heavily discounted prices, consolidate the material and then export via MMCZ or export licenses.
The draft policy also notes that the domestic chrome market was still unregulated, a situation which prevents a large number of local chrome ore producers from sustainable growth.
“In fact, chrome ore production is now declining due to the low prices being paid by our local smelters and local internationally-based buyers to chrome producers,” it reads.
“As a result, Zimbabwe, as a nation, is losing significant foreign currency and tax revenues while at the same time opportunities to re-invest into production growth and efficiencies are being lost,” reads the policy.
In regards to logistics, the draft policy notes that there was need for mobile weighbridges as well as further road and bridge development within the key chrome-mining areas.
“This will help to reduce transport costs as well as ensure the correct tonnages are being transported, which in turn will prevent chrome producers from being underpaid.”
Currently, there is no chrome policy in Zimbabwe which targets both the growth of chrome producers as well as chrome processors who beneficiate chrome ore into concentrates or ferrochrome.
The policy, currently under draft, is being designed to facilitate growth while ensuring the nation benefits from the revenue generated during the production and beneficiation processes._NewsDay
Gold prices inched up on Monday as the dollar backed off three-week highs, but gains in the metal were limited as equities rose on signs of progress in the Sino-U.S. trade talks and upbeat Chinese economic data.
Spot gold was up 0.1 percent at $1,293.15 per ounce by 0337 GMT, after touching its lowest since March 8 at $1,286.35 in the previous session.
U.S. gold futures were down about 0.1 percent at $1,297.90 an ounce.
The U.S. dollar slipped 0.1 percent against key rivals, after hitting its highest since March 11 on Friday, while Asian stocks rallied as positive Chinese factory data and signs of progress in Sino-U.S. trade talks supported sentiment.
“The most extreme part of the global growth slowdown panic has subsided a little bit and the Chinese data is responsible for that, but it is a single data point which should be backed by more data,” said Kyle Rodda, a market analyst with IG Markets in Melbourne.
“We are getting a lot of data from across the globe (this week) so the global growth story and the fears related to that will be tested in the very short term.”
Factory activity in China unexpectedly grew for the first time in four months in March, an official survey showed on Sunday, suggesting government stimulus measures may be starting to take hold in the world’s second-largest economy.
Market participants are now awaiting manufacturing PMI data from the United States and Europe and U.S. retail sales data later in the day.
“Though Asian PMIs have demonstrated for respite in the current term, we opine that a synchronized economic slowdown remains in place in lieu of weakness in both domestic and foreign demand,” Phillip Futures wrote in a note.
Investors are also keeping a close watch on the trade talks between the United States and China.
U.S. President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a “great deal” after top trade officials from both the countries wrapped up two days of negotiations in Beijing.
The talks are set to resume later this week in Washington with a Chinese delegation led by Vice Premier Liu He.
Among other precious metals, spot palladium was up 0.1 percent at $1,384.70 an ounce, having declined more than 11 percent last week.
The auto-catalyst metal also posted its biggest monthly decline in March since December 2016.
Silver was up 0.2 percent at $15.16 an ounce, while platinum rose about 1 percent to $853.38 an ounce._Reuters
A GOLD panner from Gwanda is on the run after he allegedly fatally stabbed his workmate with an Okapi knife in a dispute over the sharing of money realised from a gold deal.
Matabeleland South provincial police spokesperson Chief Inspector Philisani Ndebele confirmed the incident which occurred on Monday at around 10PM at Majoda Farm panning site in West Nicholson.
He said Thandolwenkosi Moyo (29) of Matshesheni stabbed Nkululeko Moyo (30) also from the same area and fled from the scene.
“I can confirm that we recorded a murder case which occurred in West Nicholson where a man was stabbed to death. Thandolwenkosi Moyo and Nkululeko Moyo were at Majoda Farm panning site when they had a misunderstanding over an undisclosed issue.
“The misunderstanding turned into a fight and they exchanged blows. Thandolwenkosi retrieved an Okapi knife and stabbed Nkululeko below his left breast before fleeing. Nkululeko bled profusely as a result of the attack and died on the spot,” he said.
Chief Insp Ndebele appealed to members of the public with information on Thandolwenkosi’s whereabouts to report at any police station near them.
He said the incident comes at a time when police had issued a three month ban against the carrying of dangerous weapons.
“As police we continue to urge people to desist from resorting to violence in order to resolve disputes.
“This incident comes at a time when we have issued a three month ban against the carrying of dangerous weapons. We will continue with this campaign as this case is a clear indication that there is a cause for concern as people continue to use dangerous weapons to commit offences,” Chief Insp Ndebele said.
A source who preferred anonymity said Nkululeko confronted Thandolwenkosi and accused him of giving him a smaller share of money they had realised after selling gold resulting in the fight. _The Chronicle
CEMENT manufacturers are appealing to the Government to expedite putting in place import controls so as to protect local companies.
In an interview with Sunday News Business last Thursday, Pretoria Portland Cement (PPC) managing director Mr Kelibone Masiyane said last year there was a huge demand of cement leading to artificial shortages on the market as a number of businesses and individuals were hoarding the commodity for speculative purposes aimed at profiteering.
“It was initially an issue of volumes last year where there was a huge demand, but we saw that part of the demand was not really people that were building but just wanting to put money into cement and ‘clean up the money’ and obvious we had some plant shut downs that obviously ended up bringing up this sort of shortage,” he said.
Mr Masiyane said the company recently took the Minister of Industry and Commerce, Nqobizitha Mangaliso Ndlovu, on a tour of its factory as part of efforts to show that it had the capacity to fulfil the demand of the local market.
“We just had a factory tour with the Minister of Industry and essentially we were showing him that we were up and running, we’ve got the capability to supply the entire country. So when we did the factory tour we just wanted to demonstrate that we have the capability in terms of installed capacity vis-à-vis the demand,” he said.
Mr Masiyane said PPC has an installed capacity to produce 1,4 million tonnes of cement a year of which the country’s demand is estimated to be around that figure.
“If you take into account our two plants — Bulawayo and Harare, each one of it has installed capacity of 700 000 tonnes per annum so which gives us 1,4 million tonnes of cement per year and at the moment the demand is sitting at 1,4 million. So PPC on its own is able to satisfy the demand but now if you bring in other players we have installed capacity of about 2,6 million tonnes versus a demand of 1,4 million, so there is over capacity,” he said.
Mr Masiyane said considering the improved capacity utilisation of local cement manufacturers it was unnecessary to allow the commodity to be imported into the country duty free.
“We are saying it doesn’t make sense to be using forex to allow people to bring in cement from outside. We’ve got critical things like in pharmaceuticals and other essentials that can be brought in duty free, especially those which we don’t produce but as for cement we produce the best quality. That’s why when Government put duty within Sadc (Southern African Development Community) of a US$100 per tonne, the idea was to level the playing field. So we didn’t advocate for a total ban, we are saying there should be duty,” he said.
Last year, the Government suspended sections of SI 122 of 2017 to increase the flow of basic goods into the market ahead of the festive season and ease pressure on foreign currency demand on the Reserve Bank of Zimbabwe. The repealing of SI 122 was also meant to allow retailers to restock after panic and speculative buying had left some shelves empty, triggering shortages of some commodities. Most of the cement coming into the country is imported from Zambia with part of it coming from Asia through Mozambique.
Mr Masiyane said the high cost of production in the country was one of the major factors that hamper local companies’ lack of competitiveness against other players in the region.
“The problem with Zimbabwe is the cost of manufacturing — it is quite high, it’s the highest in the region which makes the country uncompetitive . . . it’s difficult to penetrate regional markets because of the high costs of production right here in Zimbabwe, so we struggle with that but all the same we are saying we are here, the product is available in Zimbabwe,” he said.
Mr Masiyane said it was of paramount importance for the Government to address the issue of high cost of production as it has a negative impact towards efforts to turnaround the country’s economy. _The Sunday News
FIDELITY Printers and Refiners (FPR) will soon introduce a flexible package for women in mining to access funding under its Gold Development Initiative Fund (GDIF) as part of its effort to ensure improved contribution in the production of the yellow metal.
In his presentation at a small-scale miners’ conference in Bulawayo recently, FPR head of GDIF Mr Matthew Chidavaenzi said the country’s sole gold buyer had noted with concern the failure by most women in mining to access funding under its mechanisation financing facility.
“We identified that women miners were failing to access the Gold Development Initiative Fund and we did some investigations to ascertain the reason which caused such difficulties. One of the problems we identified is to do with collateral. Most women don’t have collateral in their names and then the second problem was skills, women lacked the requisite skills to do mining as a business,” he said.
Mr Chidavaenzi said the organisation was in the process of seeking an insurer to underwrite the risk in the event the women that would have accessed the loan facility failed to repay.
“Women will never access money, the moment you speak about collateral. So it’s one of the reasons we are trying to address by getting an insurer who will insure the loan and we give you with minimum collateral, it may be the plant or equipment that we buy for you,” he said.
Mr Chidavaenzi said in an effort to impart and capacitate women in mining with the requisite skills in the trade, FPR facilitated a mining course for some of them at the Zimbabwe School of Mines further stating that the participants of the training programme would be given preference to access the fund.
“The third challenge, which we think is a huge challenge in mining is the issue of claims. Women miners don’t have claims. If they don’t have claims then it is very difficult for them to get finance because they do not have anywhere where they will be able to mine. So part of the discussion, which we are having with the Ministry of Mines (and Mining Development) and large-scale producers is to say, can we get tributes, which will be given to women so that women can be able to be supported through being given all the requisite capital to start viable mining projects on good claims where they are not harassed or forced out of their places,” he said.
About $18 million has been disbursed to women in mining through the GDIF accounting for about 15 percent of the facility while their male counterparts have accessed $52 million making up about 43 percent of the fund while syndicates, co-operatives and companies have received $50 million, totalling to a disbursement of $120 million out of the allotted $150 million facility.
“We had set aside about $20 million but women could not access it . . . I think we managed to do less than 60 percent of that account. This year what we have done is that we have increased it and also refined the model itself to say what the impediments for women to access that fund were,” said Mr Chidavaenzi._The Sunday News
The Zimbabwe Energy Regulatory Authority (Zera) is lobbying for suspension of import duty on all electric vehicles (EVs) as it seeks to promote local use.
Further, Zera wants a preferential licensing fee for EVs given their importance in reducing the fuel import bill.
They are also considered to be environmentally friendly.
This was said by Zera senior engineer (electricity) Samuel Zaranyika in his presentation on “The future of the energy industry” during the Employers’ Confederation of Zimbabwe (Emcoz) human resources indaba in Kariba recently.
Eng Zaranyika added that awareness campaigns are set to start next month, with a workshop set to be convened by Zera.
“What we are doing as Zera is that we want to promote this (EVs) technology; we are actually buying an electric vehicle, which would be used for demonstrations,” said Eng Zaranyika.
“What sort of expectations do we have for this car? From Zimra (the Zimbabwe Revenue Authority), we look at waiver of duty on the electric vehicle, (from) Zinara, we would be looking at issues like preferential licensing; for instance, if you are charging a Honda Fit, say RTGS$300 per term, for an electric vehicle, we are looking at a tenth of that.
“Zera would also be conducting a workshop on this particular technology, maybe some time in April.”
Zera is pushing for the popularisation of the EVs as they would not only displace fossil fuel and carbon emissions, but the technology is also more energy efficient than internal-combustion engines.
In the recent past, Zimbabwe gobbled about 7,6 million litres of both diesel and petrol, but the numbers have shrunk to about 5,5 million litres between January and February on the back of price adjustments.
Eng Zaranyika also said EVs are cheaper to run since a single charge for a 375km trip from Harare to Kariba requires RTGS$10 compared to about 40 litres of petrol that costs about RTGS$140.
EVs are also cheaper to maintain as they have less moving parts, environmentally friendly given that they have no gas emissions, while their engines are also quieter than petrol or diesel vehicles, implying less noise pollution.
Critically, the electricity that would have been charged into an EV can also be used as alternative power for the home.
Eng Zaranyika said to promote the EV technology, Zera is also calling on the local vehicle assembly firms and the public to play ball.
Government has cleared Zera’s proposal to purchase an EV for demonstration.
The vehicle is expected in the country by December.
The number of EVs is rising exponentially, with latest figures suggesting they are now over 3 million on the world’s roads.
Sales are also reportedly spiking at almost 75 percent per annum.
The International Energy Agency now forecasts that there would be 125 million EVs in use globally by 2030.
President Emmerson Mnangagwa also has ‘Vision 2030’ by which the country would have attained upper middle-income status, with a per capita income of US$3 500.
Anjin is set to resume mining in Chiadzwa in May this year, while Russia’s Alsora will complete setting up its office by the end of next month, raising expectations Government will achieve its targeted haul of US$400 million in revenues from diamond mining.
It is believed that the Chinese mining company, which was forced to shut operations in February 2016 as the old administration designated mining of the precious stones to the Government-owned Zimbabwe Consolidated Diamond Company (ZCDC) — will pour an initial US$20 million to restart operations.
Mines and Mining Development Minister Winston Chitando told The Sunday Mail that the new diamond policy will naturally attract additional investments into the sub-sector.
Minister Chitando said fresh investments will complement the “huge expansion drive” presently being implemented by ZCDC.
“ZCDC is on a huge expansion drive and is going to produce 4,1 million carats this year on the back of the conglomerate plant that was commissioned by His Excellency, President Mnangagwa, towards the end of last year.
“Anjin, which used to operate in the area, is now back on the ground. We expect that it will commence production, at the latest, by end of May. We are looking at it being a significant producer in that regard,” he said.
In addition to mining its old claims, Anjin will also work on new areas, as well as carry out exploration.
Last year, Zimbabwe produced 2,8 million carats.
Minister Chitando believes that the diamond industry will anchor Government’s vision to earn US$12 billion from the sector within the next four years.
An executive from Anjin, who elected to remain anonymous, said the company would replace some equipment that was either stolen or vandalised during its three-year hiatus.
“There is need to replace some of the equipment at the mine which was stolen or vandalised. It is sad that some of the equipment was stolen despite the presence of police officers. We are, however, going to import new equipment. So we hope to resume operations at the old mine in a matter of weeks. Furthermore, we are going to purchase more equipment for exploration in other areas,” he said.
The company, he added, will employ 300 people from the Chiadzwa community.
“So far, we have already shown our commitment by donating US$70 000 to some of the people in nearby areas who were affected by Cyclone Idai,” he added.
The new Zesa Holdings board says it is sharpening its swords for a brutal fight against misgovernance at the State-owned power utility, especially alleged corruption in tender awards and nepotism.
Further, the new board, led by former Cottco managing director Mr Collins Chihuri, plans to ensure stable and consistent power supplies.
The board, which would sign performance contracts, also intends to successfully complete electricity generation projects currently underway such as the US$1,4 billion Hwange Power Station Expansion, which will add 600MW to the grid.
Government appointed a seven-member board for Zesa on March 19, made up of Engineer Benson Munyaradzi, Ms Jacqueline Sande, Mr Trust Chifamba, Mr Hussein Omar, Mrs Cathrine Befura and Mr Thomas Timire.
On the day of appointment, Energy and Power Development Minister Dr Joram Gumbo, said the board has several tasks that include superintending over the re-bundling process of Zesa, eliminating corruption and completing ongoing power projects.
Mr Chihuri told The Sunday Mail Business that while the task awaiting them at Zesa is gigantic, it would only be overcame if all members pulled in the same direction.
“Certainly as the minister said, there are great challenges but the challenges are not insurmountable as long as we put in good effort,” said Mr Chihuri.
He promised that the new board will hit the ground running, and largely look at ensuring that power is available for both domestic and commercial consumers. Zimbabwe has not had load shedding since December 2015 mainly due to investments in new energy projects and refurbishments of existing infrastructure, particularly since 2009.
“We will certainly look at making power availability a core issue. Since 2015 there have been no challenges, so it’s one aspect we have to ensure that it’s maintained.
“There are also big projects underway, and our task is to ensure that we support them. We also have to look at corruption and other governance shortcomings. Certainly, we have to look at such issues. So it’s a big task but we are equal to the task,” said Mr Chihuri.
Tackling corruption will test the resolve of the new board to the limit.
Zesa has had the tag of having the “most corrupt” officials stuck on it for a long time.
Management has previously been accused of offering themselves humongous salaries and perquisites (incidental benefits) even at a time when the entity was not operating profitably and efficiently.
West Africa is well endowed with mineral resources, and many world-class deposits have been discovered there in recent years. The region is a key source of gold, iron ore, bauxite, diamonds, phosphate, uranium, and its mainly untapped mineral wealth provides exceptional greenfield development potential.
But despite increased interest in the whole spectrum of commodities in West Africa, the region is a hotspot for investment in gold exploration.
Foreign companies invested billions of dollars in gold exploration activities over the past few years, resulting in West Africa having the biggest growth rate in the yellow metal’s resources in the world.
Data compiled from Mining Intelligence’s proprietary database demonstrates the number of gold asset changes within West Africa’s mining development pipeline.
West Africa’s mining development pipeline: Number of mining/explorations projects at different stages of development. Source: Mining Intelligence.
Moving down the pipeline from operating mines to exploration projects, the number of gold assets increases, with 61 assets (33% of all assets, regardless of commodity) in the production or construction stages, 24 assets, or 45% of all projects undergoing economic assessment studies, and a whopping 367 assets in the exploration phase.
74% of all exploration projects are focused on gold.
This focus on gold in the exploration stage indicates that the importance of gold in West Africa’s mining sector will only increase in the future, as new projects will enter the production phase.
Experts are confident that significant local gold resources were underexplored, and this can spark even more interest from the international mining community.
Recent gold production numbers show that South Africa was still the biggest gold producer in the region in 2017, but West Africa’s gold mining industry, led by Ghana, Mali and Burkina Faso, already produces nearly twice as much gold as South Africa, and Ghana alone has chances to overtake its struggling southern peers in gold output in the foreseeable future.
Gold production, South Africa vs. West Africa, Mozt. Source: Mining Intelligence, based on companies’ reports; artisanal miners and non-reporting companies are excluded.
Another important indicator of West Africa’s gold mining sector enticement for investors is production costs measured by the World Gold Council’s all-in sustaining costs (AISC) metrics. AISC shows that in Q2 2018, two West Africa mines were in the global list of top 6 lowest cost gold operations.
B2Gold’s new open-pit high-grade Fekola mine in Mali was the second lowest cost mine by AISC ($445/ozt), and Perseus Mining’s new SGP mine in Ivory Coast was sixth ($520/ozt).
With South Africa’s gold mining sector struggling with increased production costs at underground mines, socio-political turmoil and regulatory headwinds, West Africa is quickly becoming the continent’s main gold mining hub.
Mining Intelligence focused on primary gold operations’ AISC, i.e. mines where gold contributed to 80% and more of revenues from operating activities generated during the quarter. The ranking excludes tailings re-processing operations, mines where the precious metal is produced as a by-product and operations where companies report gold-equivalent output. Get access to the wealth of data about mineral resources in West Africa and globally, and click here for Mining Intelligence’s 2018 Western Africa Mining Map that shows the locations of more than 180 producing mines and development “shovel in the ground” projects, 20 metallurgical facilities, major roads, railroads, ports and shipping distances and regional geology._Mining.com
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