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Kavango Raises $3 Million for Gold Mine Push in Zimbabwe

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London and Victoria Falls Stock Exchange-listed mining and exploration junior, Kavango Resources Plc raised approximately US$2.97 million in a share sale to accelerate gold mining developments in Zimbabwe as it seeks to prove the African nation is open to foreign investment, Mining Zimbabwe can report.
By Rudairo Mapuranga
The company issued 227.8 million new shares at 1 pence each, it said in a statement. Its largest shareholder, Purebond Ltd., subscribed for more than 111 million shares. Chairman Peter Wynter Bee purchased 10 million shares.
Proceeds will fund the construction of a 250-ton-per-day processing plant at the Hillside project and drilling to define mineable reserves at the Bill’s Luck mine, both located in the Filabusi Greenstone Belt. The capital will also be used for a carbon-in-leach plant and general working capital.
“We are now entering the crucial phase of Kavango’s plan in Zimbabwe,” Chief Executive Officer Ben Turney said. “This pilot-scale production will allow us to clearly and decisively prove to the international market that Zimbabwe is a mining-friendly jurisdiction.”
The new shares are expected to begin trading on the London Stock Exchange on or around Sept. 15. Following the issue, Kavango’s total issued share capital will stand at 3.61 billion ordinary shares.
The company also secured a secondary listing on the Victoria Falls Stock Exchange last week, though its primary listing remains in London. Kavango said it raised $4.5 million during that subscription period.

Anglo American & Teck Announce US$50 Billion Merger in Mining’s Biggest Deal of the Decade

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Anglo American, which previously owned Zimbabwe’s Unki platinum mine (now operated by independent company Valterra Platinum), is set to acquire Teck Resources, Canada’s largest diversified mining company, in a US$50-billion all-share merger.

By Ryan Chigoche

If approved by regulators in Canada, the United States, and China, the deal will create the world’s fifth-largest copper producer.

Under the terms of the merger, Anglo American will exchange 1.3301 of its shares for each Teck share. While officially described as a “zero-premium” merger, the exchange ratio reflects a 17% premium on Teck’s closing price on Monday.

Anglo plans to offset this with a US$4.5-billion special dividend to its investors, bringing the effective premium down to just 1%.

Upon completion, Anglo shareholders will hold 62.4% of the combined entity, to be named Anglo Teck, while Teck shareholders will own 37.6%.

Duncan Wanblad, CEO of Anglo American, will lead the merged company, with Teck CEO Jonathan Price serving as deputy CEO. Headquarters will be located in Vancouver, with Anglo’s London office to be streamlined. Secondary listings are planned in Toronto and Johannesburg, alongside a New York listing via American Depository Receipts.

The merger strengthens Anglo’s access to Teck’s copper assets amid rising global demand for the metal, essential for electrification and renewable energy.

A centrepiece of the deal is Teck’s Quebrada Blanca (QB) mine in Chile, which has faced operational and cost challenges.

Both companies have been reshaping portfolios to focus on critical minerals. Teck sold most of its coal operations to Glencore, while Anglo has divested coal, platinum, and diamond assets. Teck recently launched a major operational review, scheduled for completion in October, prioritising improvements at QB.

Analysts are of the view that the merged company will emerge as a leading copper producer with a diversified portfolio, including six copper production sites, as well as iron ore and zinc operations, offering significant growth potential.

Teck has been exploring operational synergies between QB and Collahuasi, a nearby copper mine in northern Chile co-owned by Anglo and Glencore. The companies anticipate annual pretax synergies of US$800 million, with potential EBITDA gains of up to US$1.4 billion through shared procurement and operational efficiencies.

Industry observers note the operational logic of transferring high-grade ore from Collahuasi to the QB plant to optimise production. While Glencore was not consulted, it has previously advocated for combining the two Chilean mines to reduce costs.

Analysts See a Major Win for Anglo

Experts consider the merger a major strategic gain for Anglo, as it secures high-quality copper assets that are in high demand globally.

At the same time, regulatory approval in Canada will be required under the Investment Canada Act to ensure the deal provides a net benefit to the country, a process that could take up to 18 months.

Analysts also suggest that the Canadian review process may deter potential rival bids, as competitors would need to offer attractive incentives or relocate management to Canada.

The deal could trigger interest from other global miners, including Freeport McMoRan and Agnico Eagle Mines, potentially sparking a competitive environment for acquiring copper resources.

The merger follows a broader wave of consolidation in the copper sector, with companies seeking to secure critical raw materials. Anglo had previously fended off a US$49-billion offer from BHP, while Glencore’s 2023 bid for Teck fell through.

Following the announcement, Anglo shares rose nearly 10% in London to 2,498p, giving it a market value of £29.4 billion (US$40 billion). Teck stock climbed 17% in New York pre-market trading to US$40.95, valuing the company at US$17.2 billion.

New ZCDC Board Chair Ushers in Era of Strategic Continuity

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In a move signaling strategic continuity and a deep familiarity with the sector, Mr. Onesimo Mazai Moyo has officially commenced his tenure as the Board Chairman of the Zimbabwe Consolidated Diamond Company (ZCDC) with a comprehensive familiarisation tour of the company’s flagship Chiadzwa Mine operations, Mining Zimbabwe can report.

By Rudairo Mapuranga

The tour, conducted yesterday, marks one of Mr. Moyo’s first official duties since his appointment. He was accompanied by the full ZCDC executive leadership team, including Chief Executive Officer Dr. Douglas Zimbango, Chief Finance Officer Mr. Alex Mutendera, Acting Chief Operating Officer Mr. Dennis Mtombeni, and Company Secretary Ms. Dumisani Mashingaidze.

Mr. Moyo’s appointment is widely viewed as a strategic masterstroke for the state-owned diamond miner. He brings to the role a wealth of institutional knowledge and a proven track record, having previously served as the Permanent Secretary for the Ministry of Mines and Mining Development. This experience provides him with an unparalleled understanding of the national mining policy framework, regulatory environment, and the government’s strategic vision for the sector.

Furthermore, his current position as the Board Chairman of Defold Mine, a key shareholder in ZCDC, offers a unique dual perspective. It equips him with intimate knowledge of shareholder expectations and commercial imperatives, while his new role focuses on steering the corporate strategy and governance of ZCDC itself. This blend of public sector acumen and shareholder insight positions him ideally to align ZCDC’s operations with both national interests and commercial profitability.

Mr. Moyo succeeds Mr. Munashe Shava, whose term concluded at the end of June. The leadership transition comes at a critical time for ZCDC as it continues to pursue its mandate of driving sustainable growth, enhancing operational efficiency, and increasing diamond production in the Chiadzwa fields.

The familiarisation tour underscores the new Chairman’s hands-on approach and his commitment to grounding his leadership in a firsthand assessment of the mine’s operations, challenges, and opportunities. Engaging with senior managers on site, the board and executive teams discussed key operational metrics, safety protocols, and strategic initiatives aimed at consolidating ZCDC’s position as a major player in the global diamond industry.

Industry observers anticipate that Mr. Moyo’s leadership will bring stability and a renewed focus on leveraging his extensive networks and experience to unlock value, foster partnerships, and navigate the complex dynamics of the international diamond market for the benefit of Zimbabwe.

China-Led Platinum Surge Sets Stage for Strong 2025 Outlook – WPIC

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Platinum’s bullish run in 2025 is showing no signs of slowing, driven by soaring investment demand and a resurgence in jewellery buying, particularly in China.

By Ryan Chigoche

The World Platinum Investment Council (WPIC) says this strong momentum has placed platinum ahead of gold and silver as the best-performing commodity so far this year.

From the beginning of the year, the platinum market has been in a structural deficit, with robust investment demand and accelerating interest from China as key factors that will shape the rest of the year.

These trends, the WPIC notes, position platinum as both an attractive investment asset and a strategically important metal for the global energy transition.

“Platinum has broken out of its post-pandemic trading range to be the top-performing commodity in the first six months of 2025.

“Looking to the remainder of 2025, platinum’s investment case remains compelling, with the platinum market in structural deficit. Platinum’s sustained, significant discount relative to gold continues to add to its appeal. This is especially true in China, where both jewellery demand and bar and coin demand are forecast to show exceptionally strong growth this year. The success of Shanghai Platinum Week, which achieved record-breaking attendance and is increasingly drawing an international audience, demonstrates heightened interest in platinum, both as an investment asset and as a critical mineral across multiple value chains,” said WPIC CEO Trevor Raymond in a recent media interview.

According to WPIC data, global investment in platinum bar and coin surged by 660% year-on-year in the second quarter of 2025. China has become the key growth engine, now accounting for 64% of global platinum bar and coin demand, up from just 11% in 2019.

This surge has been fuelled by market development initiatives, investors seeking refuge from record-high gold prices, and a revival of China’s platinum jewellery sector. Platinum jewellery demand in the country jumped 32% in Q2 to 668,000 oz, pushing global jewellery demand to its highest first-half level since 2015. For the full year, jewellery demand is forecast to climb 11% to 2.23 million oz, with China contributing a 42% increase.

On the investment side, the dramatic second-quarter rise in Chinese bar and coin purchases lifted total bar and coin demand 55% higher to 109,000 oz. For the whole of 2025, bar and coin demand is expected to increase 45% to 282,000 oz, with demand for bars of 500 g and above in China climbing 15% to 186,000 oz. Exchange-traded funds (ETFs) are also forecast to return to net inflows in the second half of the year, reaching 100,000 oz on stronger investor sentiment and platinum’s persistent discount to gold.

Platinum’s critical role in the global decarbonisation effort is also gaining attention. Demand from hydrogen-based applications is projected to rise 19% to 49,000 oz this year, supported by a growing pipeline of orders for proton-exchange membrane (PEM) electrolysers and ongoing regulatory support.

Raymond emphasised that platinum’s investment function is a crucial part of its strategic value.

“Platinum investment is a natural mechanism for attracting metal into any geography, providing a pool of liquidity to supply future demand. For a strategically important metal like platinum, which is an essential ingredient for the hydrogen economy and global decarbonisation, this is likely to prove particularly important for major end users such as China that do not have meaningful domestic sources of supply.”

Although industrial platinum demand grew 41% quarter-on-quarter to 513,000 oz in Q2, it is forecast to fall 22% to 1.9 million oz for the full year. This drop is largely due to a 74% decline in glass demand, partly offset by gains in petroleum (+14%), hydrogen (+19%), medical (+4%), and electrical (+2%) applications.

With prices reaching a ten-year high of US$1,450/oz in July and China’s demand showing no signs of slowing, WPIC maintains that platinum’s structural deficit will continue to underpin investor interest through the remainder of 2025.

Gold prices today per gram/ ounce

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Gold buying prices in Zimbabwe today, 11 September 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

CategoryPrice (US$/g)Price (US$/oz t)
SG 90% and ABOVE110.913,448.60
SG >89% <90%109.743,412.26
SG >80% <85%108.573,375.89
SG >75% <80%107.393,338.51
Sample 5–10g105.633,283.18

 

Fire Assay CASH $111.50/g and US$3,468.03/oz

NB: Fire Assay cash price is for gold above 100g; no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price

Four Artisanal miners die in Shurugwi mine collapse

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SHURUGWI – The Zimbabwe Republic Police (ZRP) has confirmed a tragic mining accident at Chengxi Gold Mine in Shurugwi that claimed the lives of four artisanal miners.

According to a statement released on the ZRP’s official Twitter account, the incident occurred on 4 September 2025. The miners were prospecting for gold in a disused mineshaft when the shaft collapsed, trapping them inside.

“The ZRP confirms a mine accident which occurred at Chengxi Gold Mine, Shurugwi, on 04/09/25, where four artisanal miners died. The victims, who were prospecting for gold in a disused mineshaft, got trapped after the mineshaft collapsed. The bodies of the victims were retrieved and taken to Gweru Provincial Hospital for a post-mortem,” the police statement read.

Authorities are investigating the circumstances surrounding the collapse and have urged artisanal miners to exercise caution when working in abandoned or unsafe mining areas.

This incident highlights ongoing safety challenges in Zimbabwe’s artisanal and small-scale mining sector, which continues to attract many miners despite the risks associated with abandoned or poorly maintained shafts.

Chinhoyi Miner Fined for Expired Firearm License as National Crackdown Intensifies

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A miner in Chinhoyi has been fined for failing to renew his firearm license, a case that comes amid a sweeping national police operation targeting illegal weapons and expired certificates, Mining Zimbabwe can report.

By Rudairo Mapuranga

The National Prosecuting Authority (NPA) confirmed the conviction of Andrew Nyamadzawo, who was arrested on July 19, 2025, at around 8 PM in the Chijaka area after he was found in possession of a 7.65mm pistol with an expired licence.

The firearm was intended for the protection of cash, bullion, and other valuables in transit. When asked to produce a valid certificate, Nyamadzawo could only submit an expired document registered in his name.

The Chinhoyi Magistrates’ Court handed down a suspended sentence on condition that he pays a fine of US$200. The firearm was recovered by authorities.

This case aligns with a broader crackdown by the Zimbabwe Republic Police (ZRP). In a press statement dated September 10, 2025, the ZRP revealed that since August 27, 2025, a total of 2,132 suspects have been arrested nationwide for offences related to unlicensed firearms, expired certificates, misuse of toy guns, and possession of dangerous weapons.

Among these arrests, 305 involved firearms with expired certificates – the same offence committed by Nyamadzawo.

The police also recovered 60 unlicensed firearms, 96 firearms linked to other offences, 258 misused toy guns, and 2,967 dangerous weapons. In a related operation, 604 individuals were arrested for selling or possessing prohibited skin-lightening products.

The ZRP used the statement to remind the public of their obligations under the Firearms Act (Chapter 10:09), urging proper firearm security and adherence to safety regulations. The release also highlighted that in the event of a firearm owner’s death, family members or estate administrators are required to surrender the weapons to the police.

Additionally, the police announced a forthcoming Presidential Firearms Amnesty, which will allow individuals and institutions to voluntarily surrender unregistered firearms and ammunition without prosecution. Full details of the amnesty program are expected to be released soon.

Cabinet Directs Polluters to Pay for River Rehabilitation as Alluvial Mining Ban Holds

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The government has ordered that perpetrators of illegal riverbed mining bear the full cost of rehabilitating degraded environments, invoking the “Polluter Pays Principle” as the next phase of its nationwide ban on alluvial mining, Mining Zimbabwe can report.

By Rudairo Mapuranga

The directive was briefed to the media by the Minister of Information, Dr. Jenfan Muswere, during a Cabinet briefing that received an update on the implementation of Statutory Instrument 188 of 2024, which outlawed alluvial mining along riverbanks. With the ban largely successful in halting active mining, authorities are now shifting focus to the extensive environmental cleanup required.

Dr. Jenfan Muswere delivered the briefing, stating that “since alluvial mining has largely ceased, attention has now shifted to the rehabilitation of degraded sites, with liability for the rehabilitation being borne by the perpetrators.”

The government reported significant progress in operations to eliminate the practice across most provinces. To enforce the new rehabilitation drive, the legislative framework is being strengthened through the development of new regulations, and legislative reform will be expedited to “ensure environmental justice and accountability.”

The Cabinet update provided a provincial breakdown, noting that no identified alluvial mining sites in need of rehabilitation were found in the metropolitan provinces of Harare and Bulawayo. This indicates that the most severe damage is concentrated in rural and mineral-rich regions.

The government’s monitoring and enforcement efforts will now be concentrated on provinces where degradation is most acute, including Matabeleland North and Masvingo. These regions have seen some of the country’s most severe river siltation, which has contributed to a critical national water crisis.

Minister Muswere emphasised that the enforcement of the ban is “ongoing,” and the government continues to heighten its “monitoring and evaluation as well as enforcement mechanisms.”

The move to hold mining operators—both legal and illegal—financially accountable for environmental damage marks a significant escalation in the government’s policy. The “Polluter Pays Principle” is a standard environmental policy tool designed to internalise the cost of pollution, ensuring that the responsible parties, rather than the public, fund the restoration.

This policy shift follows recent public scrutiny over sentencing disparities for mining-related offences, where foreign nationals received fines while Zimbabwean citizens were jailed for similar activities. The new rehabilitation directive applies a uniform standard of accountability, focusing on the environmental impact rather than just the act of illegal mining.

PlanetGOLD Calls for Collective Responsibility to Safeguard Zimbabwe’s Mining Environment

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Zimbabwe’s mining industry continues to play a critical role in the economy, providing jobs and generating revenue across multiple commodities. However, Mining Zimbabwe can report that the rapid expansion of mining has left a significant environmental footprint.

By Ryan Chigoche

Open pits, deforestation, silted rivers, and contamination from heavy metals and chemicals have been reported across the sector, raising concerns about ecosystem degradation and community health.

The Environmental Management Agency (EMA), mandated to regulate and monitor environmental compliance in mining, has faced challenges keeping up with the scale and diversity of mining operations. Limited technical capacity and resources have resulted in gaps in monitoring and enforcement, leaving parts of the sector vulnerable to unsustainable practices.

Rather than leaving environmental stewardship solely to EMA, Upenyu Makoni, Communications Officer for planetGOLD, told Mining Zimbabwe that a collective approach is needed.

“Effective environmental stewardship requires a concerted effort from all stakeholders, including miners, civil society, and communities, as well as government agencies. The mandate of EMA is critical, and its role as the regulator must be strengthened and supported. Key to this is fostering even deeper collaborative frameworks between institutions, ensuring that monitoring and enforcement are consistent across the entire mining sector,” she said.

Following this, planetGOLD highlighted that its collaboration with EMA in recent times has been constructive.

EMA officers accompanied planetGOLD teams during site profiling exercises across the country, providing local knowledge and facilitating engagement with mining communities.

The agency has also conducted awareness campaigns to educate miners and simplify compliance processes, helping improve environmental practices across the sector.

The planetGOLD initiative brings together EMA, the Ministries of Mines, Environment, and Health; Fidelity Gold Refinery; the Zimbabwe Miners Federation; miners; and other sector advocates to promote safer, cleaner, and more sustainable mining practices. The initiative benefits communities and workers across the sector while reducing environmental risks.

The project added that continued investment in EMA’s technical and logistical capacity is essential to enable consistent monitoring and enforcement, and that accountability for environmental damage requires participation from all stakeholders.

Gold buying prices per gram in Zimbabwe, 10 September 2025

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Gold buying prices per gram in Zimbabwe today, 10 September 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$110.88/g.
SG ABOVE 89% BUT BELOW 90% US$109.70/g.
SG ABOVE 80% BUT BELOW 85% US$108.53/g.
SG ABOVE 75% BUT BELOW 80% US$107.36/g.
SAMPLE BELOW 10g BUT ABOVE 5g US$105.60/g.

Fire Assay CASH $111.46/g.

NB: Fire Assay cash price is for gold above 100g; no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price