Home Blog Page 74

Gold buying prices in Zimbabwe per gram/ ounce, 12 November 2025

TEPE
-
0

Gold buying prices in Zimbabwe per gram/ ounce, 12 November 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE125.273,896.53
SG 85% and above but below 90%123.953,853.25
SG 80% and above but below 85%122.623,811.10
SG 75% and above but below 80%121.293,768.96
Sample 5g and above but below 10g119.313,707.06
Fire Assay CASH125.933,915.23

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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

UNDP Backs Pilot Project to Power Zimbabwe’s Small-Scale Miners with Renewable Energy

TEPE
-
0
UNDP Backs Pilot Project to Power Zimbabwe’s Small-Scale Miners with Renewable Energy

The United Nations Development Programme (UNDP) has announced a groundbreaking initiative aimed at integrating renewable energy into Zimbabwe’s small-scale mining sector — a move poised to enhance operational sustainability and economic resilience for a critical yet often overlooked segment of the industry, Mining Zimbabwe can report.

By Rudairo Mapuranga

The revelation was made by a UNDP representative during the launch of the Zimbabwe Environmental Law Organisation (ZELO)’s Mine to Market: Critical Minerals situational report. While acknowledging the energy-intensive nature of mining, the representative highlighted a significant disparity in how different players in the sector are adapting.

“As my colleague indicated, we do have an exciting project that we are undertaking. Our focus is on the renewable energy side,” the UNDP official stated. “We hold that the mining sector is quite energy-intensive. And from what I’ve understood, it’s mostly our large-scale mining companies that are intervening or exploring opportunities for renewable energy. But what about our small-scale miners? We do have them. They are operational.”

This question underscores a critical gap in Zimbabwe’s mining landscape. While large corporations have the capital and capacity to invest in solar and other renewable sources to mitigate persistent national grid power shortages, artisanal and small-scale miners (ASMs) are often left relying on expensive, polluting, and unreliable diesel generators. This not only cuts into their already thin profit margins but also exacerbates the environmental footprint of their operations.

To address this imbalance, the UNDP, in partnership with the Government of Zimbabwe, is launching a targeted pilot project.

“Together with the Ministry of Mines and the Ministry of Energy, we are trying to pilot the use of renewable energy among our small-scale miners,” the representative explained.

The pilot project represents a strategic intervention with far-reaching implications. For the small-scale miners — particularly those in the lithium and other critical mineral sectors — access to clean, affordable, and reliable energy could be transformative. It would lower operational costs, increase productivity, and potentially improve safety standards. Furthermore, by reducing reliance on fossil fuels, the initiative aligns with global environmental, social, and governance (ESG) principles, which are increasingly important for accessing international markets.

The official emphasised the experimental nature of the project, stating, “It is a pilot, so we do look forward to seeing how that goes.” This cautious optimism reflects the need to develop models that are technically feasible, economically viable, and scalable within the unique context of Zimbabwe’s ASM sector.

The success of this pilot could have significant ripple effects. “We’ll be excited to share the results, both for your capability and upscaling,” the representative added, indicating that the findings are intended to inform future policy and attract further investment for broader implementation.

The initiative was welcomed at the launch as a crucial step towards a more inclusive and sustainable mining value chain. By directly empowering small-scale miners with the tools for cleaner production, the project not only addresses an immediate operational challenge but also strengthens their capacity to participate meaningfully and responsibly in the global rush for critical minerals. As Zimbabwe positions itself as a key player in the green energy transition, ensuring its own mining practices become more sustainable is imperative — and this UNDP-led pilot marks a significant stride in that direction.

Cam & Motor Mine Workers Oppose Corporate Rescue, Cite Progress on Wage Arrears

TEPE
-
0
Cam & Motor Mine Workers Oppose Corporate Rescue, Cite Progress on Wage Arrears

Workers at RioZim Limited’s Cam & Motor Mine have openly challenged their own union’s decision to seek corporate rescue for the company, revealing that management has begun paying outstanding salary arrears and questioning the necessity of court intervention, Mining Zimbabwe can report.

By Rudairo Mapuranga

In a strongly worded letter dated 10 November 2025, addressed to the Ministry of Public Service, Labour and Social Welfare and the National Employment Council for the Mining Industry, the Cam & Motor Mine Workers’ Committee expressed strong objection to the Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU)’s application to place RioZim under corporate rescue.

The workers’ representatives, Chairman Isaac Mariki and Secretary Velord Mashapa, asserted that the union’s decision “was made without consultation with the Workers’ Committee or the majority of employees.” They emphasised that ZDAMWU “represents only a minority of the workforce,” adding that “several of its own members have expressed disagreement with the action taken.”

The letter states that the corporate rescue application “has caused confusion and uncertainty at the workplace and does not reflect the collective position of the employees, most of whom wish to see the company recover through ongoing operational efforts rather than through court intervention.”

The workers’ position appears supported by recent developments on the ground. When contacted by Mining Zimbabwe, several employees confirmed they have begun receiving partial payments for salary arrears dating from January to June, with each worker being paid 50 per cent of what they are owed, starting a month ago. This progress in settling outstanding wages has led many workers to question the urgency of corporate rescue proceedings.

The Workers’ Committee argues that ZDAMWU’s actions violate the Labour Act, stating that the union’s decision is “unfair and contrary to the Labour Act Chapter 28:01, which requires majority opinion and unanimous employee consent in significant decisions affecting employees’ interests.”

The dispute emerges against the backdrop of RioZim’s broader restructuring efforts. Chairman Caleb Dengu, in his review of the group’s interim financial results for the half year ended 30 June 2025, acknowledged “a particularly challenging period for the Group, marked by significantly reduced production across our mining operations.” However, he also pointed to “early signs of macroeconomic stability” and confirmed that “plans to fully restart operations at Cam & Motor Mine are well underway, with full production expected before year-end.”

The workers have appealed for urgent intervention from labour authorities to investigate the union’s conduct and ensure it respects the rights of the majority of employees who prefer to allow the company’s ongoing recovery efforts to proceed without court-supervised restructuring.

Gold buying prices in Zimbabwe per gram/ ounce, 11 November 2025

TEPE
-
0

Gold buying prices in Zimbabwe per gram/ ounce, 11 November 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE124.273,864.24
SG 85% and above but below 90%122.953,823.33
SG 80% and above but below 85%121.643,782.55
SG 75% and above but below 80%120.323,741.64
Sample 5g and above but below 10g118.353,681.71
Fire Assay CASH124.923,884.46

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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

Sibanda Warns Zimbabwe’s Critical Minerals Policy Could Create “Monopolies”

TEPE
-
0
Sibanda Warns Zimbabwe’s Critical Minerals Policy Could Create “Monopolies”

“Mine to Market: Critical Minerals”

Zimbabwe must urgently recalculate its investment and policy frameworks to avoid falling into a monopoly trap within its burgeoning critical minerals sector, a development consultant has warned, Mining Zimbabwe can report.

By Rudairo Mapuranga

Mukasiri Sibanda sounded the caution during the launch of the Zimbabwe Environmental Law Organisation (ZELO)’s “Mine to Market: Critical Minerals” situational report. While acknowledging the government’s push for value addition, Sibanda highlighted a critical pitfall that could undermine the country’s strategic advantages.

“We are now in a position whereby the young Asians have been introduced, which is very good. But if we do not recalculate our policies, we also trap ourselves in monopolies,” Sibanda stated.

His comments point to a growing concern over the dominant role of a single investor nation—China—in Zimbabwe’s lithium and other critical mineral sectors. This concentration of ownership, he suggested, risks stifling competition and could ultimately be detrimental to the nation’s long-term economic interests.

Sibanda framed the issue as a matter of global strategic importance, noting, “We are one of the countries that controls the entire climate change.” This statement underscores Zimbabwe’s significant endowment with minerals like lithium, which are essential for the global clean energy transition. However, he implied that this abundance of resources is not being maximised if it leads to a market controlled by a single player.

Sibanda posed a critical question to policymakers, asking whether new investors from other regions would find a level playing field. “If other new investors come in here, would they also get free space to be able to improve their investment before competing with those that have been in the sector?” he asked.

This, he argued, calls for a deliberate strategy to diversify the country’s investment portfolio beyond its current primary partners. Sibanda’s remarks directly supported recommendations in the ZELO report for a more diversified investment approach, suggesting a need to actively attract capital from Europe, the United States, India, and Canada.

To facilitate this diversification, Sibanda pointed to the need for policy reforms, specifically highlighting the importance of reviewing bilateral investment treaties and double taxation agreements. Such reforms, he argued, are essential to creating a more attractive and competitive environment for a broader range of international investors.

The warning serves as a strategic counterpoint to the government’s value-addition drive, suggesting that who adds the value is just as important as the act itself. Without a conscious effort to cultivate a competitive and multi-polar investment landscape, Zimbabwe risks swapping the export of raw materials for a market controlled by a select few, ultimately limiting the economic benefits from its critical mineral wealth.

Price Slump and Challenges Force Artisanal Miners to Abandon Zimbabwe’s Lithium Fields

TEPE
-
0
Price Slump and Challenges Force Artisanal Miners to Abandon Zimbabwe’s Lithium Fields

A significant exodus of Artisanal and Small-Scale Miners (ASM) from Zimbabwe’s lithium sector has been revealed in a new study, with many abandoning their mine sites entirely due to economic pressures and operational challenges, Mining Zimbabwe can report.

By Rudairo Mapuranga

This finding was presented by Joyce Machiri of the Zimbabwe Environmental Law Organisation (ZELO) during the launch of their “Mine to Market: Critical Minerals” situational report in Harare. The report assesses the entire lithium value chain, from extraction and processing to transportation and export.

According to Machiri, one of the study’s starkest discoveries was the state of ASM operations. “Most of the ASM sites were abandoned,” she stated. “They were not operational; they were affected by the price slump, which affected the big mines as well as the small-scale.”

The downturn in global lithium prices proved devastating for smaller operators, who lack the financial buffer of large corporations. Machiri described the visible aftermath of this exodus, noting that equipment and materials “were just seen lying around some mine sites; some were left along the road and the like.”

This retreat of ASMs from the lithium space coincides with other systemic issues plaguing the sector. The report identified challenges such as electricity and water shortages, which are hindering the processing of lithium into concentrate. These infrastructural deficits are also complicating the government’s efforts to enforce a ban on the export of raw lithium ore.

Machiri highlighted a critical lack of coordination among key government ministries and agencies, including the Minerals Marketing Corporation of Zimbabwe (MMCZ), which was notably absent at border posts. This absence, she said, creates significant oversight gaps, making it difficult to verify if the lithium being transported matches the accompanying documentation.

Furthermore, the study found a limited understanding of lithium minerals among officials from the Zimbabwe Revenue Authority (ZIMRA), coupled with a lack of weighbridges at borders to accurately determine the content of export trucks.

The ZELO report paints a picture of a lithium sector at a crossroads. While the government has approved numerous processing plants and attracted major mining companies, the departure of small-scale miners and persistent infrastructural and regulatory hurdles threaten the sustainability and equitable growth of this critical mineral industry. The findings call for a coordinated strategy to not only attract large investment but also to create a resilient and inclusive value chain that can withstand market fluctuations.

Strategic Pullback: Namib Minerals Lowers 2025 Guidance, as Expansion Projects take off

TEPE
-
0
Strategic Pullback: Namib Minerals Lowers 2025 Guidance, as Expansion Projects take off

Nasdaq-listed multi-asset miner Namib Minerals, having taken a strategic approach to 2025, has lowered production guidance at its How Mine operation while simultaneously laying the groundwork for expansion at its Redwing and Mazowe mines. In its latest operational update, the company said the move is aimed at grade optimisation and operational stability, Mining Zimbabwe can report.

By Ryan Chigoche

For the 2025 financial year, output from How Mine is expected to fall to 24,000–25,000 ounces, down roughly 32–34% from the 36,600 ounces produced in 2024.

Adjusted EBITDA is projected at US$22–26 million, while all-in sustaining costs (AISC) are forecast to rise to US$2,700–2,800 per ounce.

Namib Minerals said the lower guidance is a deliberate, strategic pullback designed to stabilise ore quality and optimise processing efficiency, rather than a sign of operational weakness.

“Our focus this year remains on stabilising grades and improving processing capacity at How Mine,” the company said. “These improvements are expected to yield stronger and more consistent performance going forward.”

Analysts note that the reduced output underscores a trade-off between short-term volumes and long-term operational health. By concentrating on grade and throughput, Namib Minerals is positioning How Mine to deliver more consistent returns, while freeing management attention and cash flow for the next stage of growth.

WSP Steps In for Redwing and Mazowe

The company’s expansion ambitions are anchored by the appointment of WSP Global Inc., tasked with conducting feasibility studies at Redwing and Mazowe. The 12–18-month studies will verify exploration results, upgrade resources, and deliver SK-1300-compliant reports that form the technical and financial foundation for production restarts.

“The appointment of WSP marks a major step forward in our resource expansion plan and demonstrates our commitment to building a technically robust foundation for the next phase of growth,” the company said.

Namib Minerals said the studies are part of a phased growth strategy designed to align each mine’s production with its underlying resource potential.

By combining How Mine optimisation with development work at Redwing and Mazowe, the company is pursuing a calculated approach: securing short-term stability while preparing new assets to boost its overall production base.

Even as feasibility studies proceed, preparatory work at Redwing has begun. Dewatering is scheduled to start during the study period and is expected to take roughly eight months to reach the targeted mining levels. Surface infrastructure and power upgrades are also being planned to coincide with the restart timeline.

By overlapping feasibility and early-stage site works, Namib Minerals aims to shorten the gap between planning and production, ensuring that once financing is in place, the mines can move quickly into operation.

The company estimates total capital expenditure for Redwing and Mazowe at US$300–400 million, with the bulk of funding allocated to Redwing. Financing is expected to come from a combination of project debt, strategic partnerships, and internally generated cash flows, helping to limit shareholder dilution.

With How Mine entering a consolidation phase and feasibility work progressing at Redwing and Mazowe, the company appears poised to expand its production base over the next 18 months, moving closer to its goal of becoming a multi-mine gold producer in Zimbabwe.

Record Gold Prices, Higher Output Propel Caledonia to a 467% Surge in Q3 Profit

TEPE
-
0
Record Gold Prices, Higher Output Propel Caledonia to a 467% Surge in Q3 Profit

VFEX-listed miner Caledonia Mining Corporation posted a massive 467% surge in profit for the third quarter ending September 2025, driven by buoyant bullion prices and steady production at its Blanket Mine, Mining Zimbabwe can report.

By Ryan Chigoche

In the report, the miner posted a profit after tax of $18.7 million, a sharp increase from $3.3 million posted in the prior period, helping the company offset high operational costs.

The profit was in line with the topline, which jumped 52% year-on-year to $71.4 million, driven by both higher gold prices and increased sales volumes.

The miner sold 20,355 ounces of gold during the three months to the end of September, with a further 2,861 ounces held in inventory at the quarter-end and sold at the start of October.

Caledonia’s average realised gold price soared 40% to $3,434 per ounce, reflecting a broader rally in the precious metal during the period, driven by investor demand amid global economic uncertainty.

As a result, gross profit nearly doubled to $36.9 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 162% to $33.5 million.

Free cash flow improved to $5.9 million, swinging from a negative $2.4 million in the third quarter of 2024, while liquidity stood at $44.3 million, giving the company headroom for continued investment.

Commenting on the performance, Mark Learmonth, chief executive, said: “The strong gold price environment, which increased 40% to average $3,434 per ounce, combined with higher production, has resulted in a 52% increase in quarterly revenue and a significant uplift in free cash flow.”

“We continue to deliver solid operational and financial results at Blanket… maintaining our focus on stable production and disciplined capital investment as we seek to modernise operations and improve mining efficiency,” he added.

Production from Blanket totalled 19,106 ounces for the quarter, with a further 437 ounces produced and sold from Caledonia’s smaller Bilboes oxide mine, which is still in the early stages of development. A feasibility study on Bilboes is expected imminently.

The company’s consolidated on-mine cost was $1,228 per ounce, with all-in sustaining costs, a broader industry metric that includes sustaining capital expenditure, at $1,937 per ounce.

The quarter was marked by the death of a Blanket Mine employee in a secondary blasting accident in September.

Learmonth said: “The safety and well-being of our workforce remains our highest priority. We have initiated a comprehensive review of our safety procedures and training, and we are committed to ensuring that such a tragedy does not occur again.”

In governance news, Caledonia appointed July Ndlovu, a former chief executive of Anglo American’s coal division, as an independent non-executive director on 5 November.

The board declared a quarterly dividend of 14 cents per share, payable on 5 December.

What’s next? Caledonia is developing new mining areas to add to the reliable Blanket Mine. In this drive, the company is spending US$2.8 million on exploration at Motapa, with a feasibility study for Bilboes said to be imminent.

These projects, once running, could make Caledonia the biggest gold producer in the country.

Why the Mine Managers Conference and AGM Are Crucial for Mining Equipment Suppliers and Service Providers

TEPE
-
0
Why the Mine Managers Conference and AGM Are Crucial for Mining Equipment Suppliers and Service Providers

In every mining nation, the success of the industry depends not only on mineral resources and technology but on the people who make operational decisions every day — the Mine Managers.

In Zimbabwe, the Association of Mine Managers Conference and Annual General Meeting (AGM) serves as one of the most important gatherings of these decision-makers. For equipment suppliers and service providers, this event represents a golden opportunity to engage directly with the heartbeat of the mining industry.

Here is why

1. The Nerve Centre of Mining Decision-Making

Mine managers are the ultimate link between the boardroom and the mine site. They are on the ground, oversee safety, production, and efficiency, and their recommendations often determine which equipment or services are adopted across entire operations.

While procurement officers handle paperwork, it is the Mine Manager who validates performance, approves trials, and influences which brands and service providers become trusted partners. Engaging them directly offers suppliers and service providers a chance to understand operational challenges firsthand and tailor their offerings to meet real mining needs.

2. A Meeting of the Industry’s Minds

The Mine Managers Conference and AGM bring together the men and women who lead Zimbabwe’s largest and most productive mines. Over several days, the event provides a rare platform for networking, discussion, and collaboration across the mining value chain.

For suppliers and service providers, this is not just another exhibition — it is a strategic forum where business relationships begin. From technology demonstrations and safety innovations to maintenance and logistics solutions, the event allows industry partners to showcase their products directly to those who use and influence purchasing decisions.

3. A Platform for Thought Leadership

The Conference goes beyond networking — it is a space for learning, sharing ideas, and aligning with the direction the industry is moving. When suppliers participate, they gain insight into current challenges such as cost pressures, productivity goals, ESG compliance, and digital transformation.

This knowledge helps companies position their products as solutions that support mine managers’ operational objectives rather than as generic offerings. Being seen as a thought leader rather than just a vendor builds trust and long-term engagement.

4. Relationship Building Beyond the Sale

Mining is a trust-based industry. Mines operate in remote, challenging environments where downtime is costly and safety is non-negotiable. Suppliers who consistently engage, support, and respond quickly to managers’ needs become more than vendors — they become partners.

The Mine Managers AGM provides the perfect setting to nurture these relationships in person, away from emails and formal meetings. It allows suppliers to strengthen their presence, understand customer feedback, and demonstrate an ongoing commitment to the industry.

5. Visibility Through Strategic Media Coverage

This year’s event will be covered extensively by Mining Zimbabwe, ensuring that participating suppliers and service providers gain media exposure long after the conference ends. Coverage will appear across print, digital, and social media platforms — amplifying the visibility of brands that support the mining sector’s leadership events.

The Mine Managers Conference and AGM are not merely annual gatherings — they are where Zimbabwe’s mining future is discussed, shaped, and strengthened. For equipment suppliers and service providers, participation is an investment in relationships, reputation, and relevance.

By engaging the people who manage the mines, suppliers position themselves not only as service providers but as trusted partners in the growth and sustainability of Zimbabwe’s mining industry.

Gold buying prices in Zimbabwe per gram/ ounce, 10 November 2025

TEPE
-
0
Gold buying prices in Zimbabwe per gram/ ounce, 10 November 2025

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

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE121.35$3,775.77
SG 85% and above but below 90%120.06$3,735.28
SG 80% and above but below 85%118.78$3,694.79
SG 75% and above but below 80%117.49$3,654.31
Sample 5g and above but below 10g115.57$3,594.49
Fire Assay CASH121.99$3,794.65

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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

1...737475...716Page 74 of 716