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Mine Ventilation Conference to Spotlight Optimised Ventilation Systems for Safer, Smarter Mining

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Mine Ventilation Conference to Spotlight Optimised Ventilation Systems for Safer, Smarter Mining

The Mine Ventilation Society of Zimbabwe (MVSZ) will hold its Annual General Meeting and Symposium from October 30 to 31 in Bulawayo, under the theme “Optimising Ventilation Systems for Operational Excellence,” Mining Zimbabwe can report.

By Ryan Chigoche

The event is expected to set the tone for renewed discussions on how the mining sector can modernise its underground ventilation systems to meet the demands of deeper and more mechanised operations.

Speaking to Mining Zimbabwe, MVSZ President Dr. Tonderai Chikande said this year’s theme reflects both the changing face of Zimbabwe’s mining landscape and the growing urgency to make ventilation a central pillar of mine planning and productivity.

“The theme is both timely and transformative. ‘Optimising Ventilation Systems for Operational Excellence’ speaks directly to the evolving nature of Zimbabwe’s mining landscape and reflects the urgent need to modernise ventilation across the sector. Our operations are going deeper and becoming increasingly complex. In this context, ventilation is no longer a background function — it is the strategic enabler of safety, productivity, and sustainability. Ventilation must be proactive, intelligent, and integrated into mine planning from the outset. This theme challenges us to move beyond compliance and embrace innovation, energy efficiency, and real-time monitoring as pillars of operational excellence,” said Dr. Chikande.

His remarks come as Zimbabwe’s mining industry continues to expand, with increased mechanisation and deeper underground operations introducing new challenges in air quality management and occupational safety.

The upcoming conference is expected to provide a platform for ventilation professionals, engineers, and safety practitioners to exchange ideas, review legislation, and showcase technologies designed to enhance efficiency and worker protection.

The two-day event will feature a ventilation legislation review, technical presentations, exhibitions, and team-building activities aimed at strengthening collaboration and continuous professional development in the sector.

The legislative review is expected to be one of the key highlights, as discussions focus on aligning existing frameworks with evolving health, safety, and environmental standards.

Industry observers note that conversations around energy-efficient ventilation systems, digital monitoring, and automation are becoming increasingly relevant as mines seek to balance safety, productivity, and sustainability.

Over the years, the MVSZ AGM and Symposium has grown into one of the most significant fixtures on Zimbabwe’s mining calendar. It continues to serve as a vital platform for technical exchange and innovation, shaping the country’s efforts to create safer, smarter, and more sustainable underground mining operations.

Gold forecast to Hit US$5,000 by 2026

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Gold forecast to Hit US$5,000 by 2026

Zimbabwean producers ramp up investments as gold’s bull run fuels renewed optimism and record inflows

Gold’s relentless rally is reshaping investor sentiment worldwide, with HSBC now forecasting prices could climb to US$5,000 per ounce by 2026 — a projection already reverberating through global and local mining sectors, where renewed confidence is driving investment and expansion.

By Ryan Chigoche

The British banking giant’s latest outlook, released Friday, predicts the “bull wave” will extend into next year, supported by geopolitical tension, robust central bank buying, and rising financial instability. HSBC lifted its 2025 average gold price forecast to US$3,455 and 2026 to US$4,600, citing economic policy uncertainty and escalating public debt as major factors sustaining demand.

“Unlike previous rallies, many of these new buyers are likely to stay in the gold space — not purely for profits but for diversification and safe-haven value,” the bank noted.

Global Bull Wave Lifts Sentiment

Spot gold traded around US$4,365 an ounce on October 17, close to a record US$4,379.93, marking its strongest weekly performance since 2008. Prices have gained nearly 60 percent since January, fuelled by expectations of U.S. interest rate cuts, surging exchange-traded fund inflows, and renewed safe-haven demand amid trade tensions and political uncertainty.

Analysts at Bank of America and Société Générale share HSBC’s bullish tone, expecting gold to reach new highs in early 2026 before stabilising later in the year. The rally has encouraged investors to view gold not just as a crisis hedge but as a strategic, long-term asset — a sentiment reflected in mining equities and exploration budgets.

The Spillover of the Gold Bull Wave to Zimbabwe

For Zimbabwe, where gold accounts for more than half of export earnings, the surge has been a timely economic lifeline. Gold exports doubled in the first half of 2025 to US$1.84 billion, with deliveries to the Fidelity Gold Refinery reaching 33 tonnes toward a 40-tonne national target.

Artisanal and small-scale miners (ASMs) contributed 24.5 tonnes in the first nine months — a 68 percent increase from 2024 — as high prices drew thousands of new participants. Large-scale producers, though constrained by power shortages and machinery breakdowns, are also capitalising on the favourable price environment to justify new investments and modernisation.

The bullish trend has spilled into Zimbabwe’s capital markets. The Victoria Falls Stock Exchange (VFEX), the country’s U.S. dollar-based bourse, recently surpassed US$2 billion in market capitalisation for the first time, with third-quarter turnover doubling to US$17 million.

Mining counters such as Caledonia Mining, Padenga Holdings, and Kuvimba Mining House have led the rally, mirroring global investor sentiment and reflecting growing belief in Zimbabwe’s mineral potential. The strong performance underscores how global market momentum is boosting confidence in local mining equities.

Rising Capital Commitments

Spurred by robust prices, Zimbabwean mining firms are expanding aggressively. Kuvimba Mining House plans to invest US$38 million to boost production at Freda Rebecca and has earmarked nearly US$1 billion for wider projects.

Caledonia Mining is spending US$41.8 million to extend Blanket Mine’s life to 2034, while Padenga’s Dallaglio subsidiary is investing US$30 million to develop underground operations and achieve energy self-sufficiency by 2026.

These investments point to growing optimism that high gold prices will hold over the medium term, allowing producers to strengthen output and profitability despite operational headwinds.

RBZ Strengthens Gold-Backed ZiG

The Reserve Bank of Zimbabwe (RBZ) has also taken advantage of the boom, accumulating gold and forex reserves now estimated at US$900 million to back the Zimbabwe Gold (ZiG) currency. The stronger reserve position has supported the ZiG’s stability and narrowed forex shortages, showing how global bullion gains can translate into domestic monetary resilience.

While comparisons to the 1970s and post-2008 rallies are common, analysts say today’s market dynamics are different. This cycle is being driven less by inflation fears and more by structural distrust in fiat currencies, alongside record central bank purchases exceeding 1,000 tonnes annually since 2022.

HSBC’s bullish view aligns with projections from J.P. Morgan, which expects gold to average US$3,675 in Q4 2025 and reach US$4,000 by mid-2026, and Bank of America, which sees potential spikes to US$5,000.

Though volatility could re-emerge if geopolitical tensions ease, consensus across the investment community suggests the bull market still has room to run.

For Zimbabwe, the implications are profound. Record exports, surging ASM participation, and expanding corporate investment all reflect a sector regaining its footing. Gold’s rally has not only improved cash flows — it has restored confidence, unlocking new capital and strategic ambition across the mining landscape.

If current trends persist, this renewed confidence could signal the beginning of a new investment cycle, positioning gold once again as the cornerstone of Zimbabwe’s economic stability.

Gold buying prices in Zimbabwe per gram/ ounce, 20 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 20 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 20 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE128.353,991.33
SG 85% and above but below 90%126.993,949.03
SG 80% and above but below 85%125.643,906.98
SG 75% and above but below 80%124.283,864.55
Sample 5g and above but below 10g122.243,801.38
Fire Assay CASH129.034,014.04

 

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.

Kavango Resources Secures Additional Capital From Strong Investor Demand

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Kavango Resources Secures Additional Capital From Strong Investor Demand

In a clear signal of robust market confidence, London and Victoria Falls Stock Exchange-listed mining junior Kavango Resources Plc (LSE:KAV, VFEX:KAV.VX) has mobilised an additional £150,000 in the United Kingdom and US$129,035 in Zimbabwe, responding to significant investor demand following its recent major fundraisings on both stock exchanges, Mining Zimbabwe can report.

By Rudairo Mapuranga

The Southern Africa-focused metals exploration and gold production company announced the successful completion of this supplementary capital raise, which follows the substantial £2.2 million UK placing and subscription and the US$4.5 million VFEX subscription it announced last month.

The company confirmed that the proceeds from this latest fundraise will be channelled towards strengthening its working capital and financing ongoing exploration and mine development work across its operations in Southern Africa. This strategic allocation is consistent with the company’s previously announced objectives to aggressively advance its projects.

This additional capital injection underscores the growing investor appetite for Kavango’s dual-strategy approach, which involves developing near-term commercial gold production in Zimbabwe’s proven greenstone belts while simultaneously exploring for large-scale copper systems in Botswana’s Kalahari Copper Belt.

In total, Kavango has issued 24,557,448 new ordinary shares through this round, comprising 15,000,000 shares in the UK and 9,557,448 shares in Zimbabwe, all priced at £0.01 per share. The new UK shares were admitted to the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange, while the VFEX shares followed a similar process before being transferred to Zimbabwe for listing and trading on the Victoria Falls Stock Exchange.

Market analysts view this successful additional fundraising as a positive indicator of Kavango’s strengthening market position and its ability to attract continued investment for its expansion strategy in the region. The company’s secondary listing on the VFEX in September 2025 has provided it with enhanced access to Zimbabwean capital, further solidifying its commitment to the country’s mining sector.

Following the admission of these new shares, Kavango Resources’ total number of ordinary shares in issue will stand at 3,634,380,762.

Karo Mining Seeks Bondholder Nod for Debt Restructuring

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Karo Mining Seeks Bondholder Nod for Debt Restructuring

Victoria Falls Stock Exchange-listed emerging platinum group metals (PGM) producer Karo Mining Holdings has called upon its bondholders to approve three critical amendments to its existing bond terms, seeking an extension of the debt tenure, an increased coupon rate, and modifications to early redemption conditions, Mining Zimbabwe can report.

By Rudairo Mapuranga

In a circular to bondholders dated 16 October 2025, the company announced an Extraordinary General Meeting scheduled for 07 November 2025, where investors will decide on the proposed changes to the US$36.8 million bond initially issued in 2022.

The company is seeking to extend the bond’s maturity date by three years to 01 December 2028, aligning the debt repayment schedule with the extended development timeline of its Karo Platinum Project, located on the Great Dyke.

In recognition of the longer investment horizon and increased cost of funding in the country, Karo has proposed raising the annual interest rate on the notes to 11.0 per cent, up from the current 9.5 per cent. This adjustment is designed to compensate bondholders for the extended tenure of their investment.

The third significant amendment involves revising the “make-whole” provision governing early redemption. If approved, the company would only be required to repay the principal amount plus accrued interest up to the redemption date, rather than the full interest that would have been earned had the bond reached its original maturity.

The project’s major shareholder and guarantor, Tharisa plc, has committed to extending its financial backing for the new three-year period, subject to an annual guarantee fee of 2.6 per cent, effective from December 2025.

In a development that significantly boosts the proposal’s prospects, Arxo Finance plc, an associate of the issuer holding 27 per cent of the bond issue valued at US$10.0 million, has formally undertaken to vote in favour of the resolutions.

The virtual meeting, to be conducted electronically, will require bondholders to return completed proxy forms by 05 November 2025 if they are unable to attend the proceedings. The proposed changes reflect Karo’s strategic approach to aligning its financial obligations with the long-term development requirements of what is considered a tier-one PGM asset.

Approval of these amendments would provide the emerging miner with crucial financial flexibility as it advances the development of its mining operations in Mhondoro-Ngezi, situated approximately 80 kilometres southwest of Harare.

Gold Peaks at $4,014 per ounce/ US$129.03 per gram

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Gold Peaks at $4,014 per ounce/ US$129.03 per gram

The latest gold trading prices reveal consistent returns for miners delivering high-purity gold, while fire assay remains the most lucrative option.

According to the latest rates, gold with a specific gravity (SG) of 90% and above is trading at US$128.35 per gram, translating to US$3,991.33 per ounce. Slightly lower grades, such as SG 85–90%, are priced at US$126.99/g (US$3,949.03/oz), while SG 80–85% gold stands at US$125.64/g (US$3,906.98/oz).

Gold with SG 75–80% purity trades at US$124.28/g (US$3,864.55/oz), and smaller sample deliveries between 5g and 10g fetch US$122.24/g (US$3,801.38/oz).

The Fire Assay Cash price remains the highest at US$129.03 per gram, equating to US$4,014.04 per ounce.

These prices reflect continued investor confidence in Zimbabwe’s small-scale and artisanal gold sector, which remains a vital contributor to the nation’s mineral exports. As global gold demand stays firm amid economic uncertainty, the domestic market continues to reward high-grade producers with competitive returns.

Gold buying prices in Zimbabwe per gram/ ounce, 18 October 2025

Mining
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Gold buying prices in Zimbabwe per gram/ ounce, 18 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 18 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE128.353,991.33
SG 85% and above but below 90%126.993,949.03
SG 80% and above but below 85%125.643,906.98
SG 75% and above but below 80%124.283,864.55
Sample 5g and above but below 10g122.243,801.38
Fire Assay CASH129.034,014.04

 

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.

ZDAMWU Calls for Stricter Enforcement of Labour Laws at Chinese-Run Mines

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ZDAMWU Calls for Stricter Enforcement of Labour Laws at Chinese-Run Mines

The Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) has intensified calls for stricter enforcement of labour laws in Chinese-operated mines, citing persistent mistreatment and unsafe working conditions, Mining Zimbabwe can report.

By Ryan Chigoche

The union’s concerns were heightened by a recent fatal shooting of a suspected robber at a Chinese-run mine in Mutoko, an incident that has reignited debate over worker safety and security practices by foreign operators.

This is not an isolated case—over the past few years, ZDAMWU has documented multiple disputes between Chinese-owned mines and local workers, including allegations of unpaid wages, excessive working hours, unsafe underground conditions, and intimidation of employees who raise grievances.

ZDAMWU General Secretary Justice Chinhema stressed that respect for Zimbabwean labour laws is non-negotiable and must be backed by practical enforcement.

“We demand the immediate convening of engagement meetings with the Chinese Embassy and all Chinese mining companies operating in Zimbabwe,” he said. “These meetings must be inclusive and transparent, giving workers and communities a platform to voice their concerns.”

Chinhema also called for mandatory training programmes for Chinese workers on Zimbabwe’s labour laws. “Education is vital to foster mutual understanding and respect, and to prevent exploitation or misunderstanding,” he added.

Chinhema reaffirmed ZDAMWU’s commitment to collaboration while insisting on accountability. “Our workers and communities deserve full respect for the law, fair treatment, and a seat at the table. Immediate action is non-negotiable to build a mining industry that is safe and prosperous for all Zimbabweans.”

ZDAMWU’s advocacy underscores the union’s critical role as a watchdog in Zimbabwe’s mining sector, pressing both government and foreign operators to uphold labour standards and protect workers’ dignity.

Academia at the Heart of ESG Advancement in Zimbabwe’s Mining Sector: Gwaze

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Academia at the Heart of ESG Advancement in Zimbabwe’s Mining Sector: Gwaze

Environmental, Social, and Governance (ESG) principles have become central to modern mining. Today, mining companies are expected not only to deliver financial returns but also to demonstrate responsibility toward the environment, communities and governance, Mining Zimbabwe can report.

By Ryan Chigoche

In Zimbabwe, this shift is reshaping the way the industry approaches sustainability, compliance, and long-term value creation, making ESG a critical component of business strategy.

In this evolving landscape, academia is emerging as a key enabler. Edwin Gwaze, Principal of the Zimbabwe School of Mines (ZSM), in a panel discussion, explained that educational institutions act as neutral facilitators, connecting mining companies, regulators, government, and communities.

Through fostering a shared understanding of ESG policies and legal frameworks, academia ensures that all stakeholders are aligned and able to work collaboratively toward sustainable outcomes.

Building on this coordinating role, Gwaze emphasised that it is critical for academia to receive financial support.

“Funding for ESG-focused training, alignment of curricula with global standards, and awareness programs for small-scale miners are all essential to strengthening the sector’s capacity. We also emphasise the importance of gender sensitivity and deliberate policy development to ensure that ESG practices are inclusive and comprehensive,” he said.

To ensure these principles are applied with rigour, ZSM has pursued ISO 9001 certification for its management system and is working toward ISO 17025 for its analytical laboratories.

These certifications reinforce the institution’s commitment to high standards in both education and practical application, ensuring graduates are prepared to meet the demands of a responsible mining industry.

“As we train the next generation of mining professionals,” Gwaze concluded, “our goal is to ensure they understand ESG and can apply it in practice. Academia is a neutral platform that can link industry, regulators, and communities while creating knowledge and innovation for sustainable mining.”

The practical dimension of academia’s role is equally important. ESG principles are embedded across ZSM’s programs, including responsible mining and occupational health and safety.

A particularly impactful initiative is the experimental model mine at ZSM, designed to give students hands-on experience in implementing ESG and responsible mining practices. This approach bridges theory and practice, ensuring graduates are equipped to apply ESG standards effectively once they enter the industry.

Through research, education, and dialogue, academia is proving to be a critical driver of ESG in Zimbabwe’s mining sector.

By equipping future leaders with the skills, knowledge, and practical experience to embed sustainable practices, educational institutions can shape a responsible, innovative, and globally competitive mining industry.

Platinum Prices Surge 80% Since April as Zimbabwe Stands to Gain

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Platinum Prices Surge 80% Since April as Zimbabwe Stands to Gain

Platinum has reclaimed the spotlight after years in the shadows of lithium and copper. Prices have surged 80% since April 2025, climbing above US$1,650 per ounce — their highest level in more than a decade, Mining Zimbabwe reports.

By Ryan Chigoche

The rally is more than market excitement. Global industries are increasingly relying on hydrogen technologies, fuel cells, and cleaner automotive catalysts, driving renewed demand and underscoring platinum’s role as a key metal in the green energy transition.

Analysts estimate a 700,000-ounce global deficit in 2025 — the largest since 2014 — reflecting structural underinvestment and tight supply that could persist through 2029.

South Africa remains the world’s platinum heavyweight, producing nearly 70% of global supply. Yet chronic power shortages and ageing infrastructure are constraining output just as demand accelerates. That has turned attention to Zimbabwe, where rising prices and policy reforms are creating opportunities for growth.

Stretching across the centre of the country, Zimbabwe’s Great Dyke hosts the second-largest PGM resource globally.

Local miners are acting on the recovery: Zimplats has resumed execution of a US$1.8 billion expansion, boosting smelting and refining capacity. Additionally, the company has invested in a fleet upgrade to increase production.

Mimosa continues steady, high-grade production; Karo Platinum, under Tharisa PLC, is advancing a low-cost open-pit operation; and Darwendale (Kuvimba Mining House) has been restructured into a leaner, more efficient model. These developments highlight Zimbabwe’s emergence as a quiet disruptor in the regional platinum market.

Policy reforms reinforce this momentum. The government now levies a 5% charge on unbeneficiated PGM exports and collects part of royalties in refined metal — measures designed to encourage local beneficiation and improve fiscal resilience.

Yet even as prices soar, operational challenges persist. Since January 2025, platinum miners have faced delays in receiving local currency payments for 30% of export proceeds surrendered to the Reserve Bank under foreign currency retention rules.

According to the Chamber of Mines, PGM miners are owed millions of dollars, creating liquidity pressure across the sector. With PGM exports valued at roughly US$690 million in the first half of 2025, the delayed portion highlights the scale of strain on local operations — from supplier payments to project financing.

Despite these hurdles, Zimbabwe’s platinum sector remains optimistic. Rising global prices, expanding operations, and supportive policy reforms position the country to benefit from platinum’s recovery. The 80% price surge since April is more than a temporary spike — it signals a potentially enduring upswing and underscores Zimbabwe’s growing significance in the platinum story.

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