• Zim Set for LBMA Return as Gold Refinery Exceeds Threshold

    Zimbabwe is expected to have access to global gold buyers with effect from next year after exceeding the 10 tonne requirement to be re-accredited into the London Bullion Market Association (LBMA).   Gold production is on a rebound with figures from Fidelity Printers and Refiners showing that the nation has since January this year produced 11.11 tonnes of the yellow metal. The development has resulted in the government and Fidelity majority shareholder, the Reserve Bank of Zimbabwe, submitting proposals for re-entry into the LBMA next year. An economic commentator Mrs Letina Undenge says the re-accreditation of the country into the LBMA will enable the government to increase earnings from gold and attract more investments. “It is something that can help unlock opportunities in the economy,” she said. Zimbabwe was de-registered by the LBMA after production fell to below three tonnes in 2008. However, there is optimism by the Chamber of

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  • Mining Sector to Grow 6pc, Minister

    MINES Minister Walter Chidhakwa said Thursday Zimbabwe’s mining sector is projected to grow by an average six percent this year, reversing earlier projections of negative growth in the sector. Chidhakwa told delegates attending a diamond mining conference that the sector had been the most dynamic sectors of Zimbabwe’s economy over the last five years, leading the country’s 2009-11 economic rebound with average annualised growth of 35 percent. The mining sector contributes 45 percent to the country’s exports and 3 billion U.S. dollars to Gross Domestic Product (GDP). “The sector is projected to grow by an average of six percent in 2014. Its contribution to the country’s GDP has seen a phenomenal rise from 4 percent in the 1990s to 16 percent in 2013 and a projected share of 17 percent in 2014,” Chidhakwa said. His projections contradict a -1.9 percent growth projection that was announced by finance minister Patrick Chinamasa

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  • New minerals policy on the cards

    The government is crafting a new minerals development policy to facilitate infrastructure development in the country. The minerals development policy seeks to ensure that the acquisition of mining rights is done in an easier and more transparent manner as well as enhance the protection of both the investor and the nation in the exploration of minerals. In his presentation on “Creating a Conducive Environment for Investment in Mining and Minerals Beneficiation through Appropriate Legislation and Policies” at the pre-budget seminar for parliamentarians in Victoria Falls, Mines and Mining Development Deputy Minister, Cde Freddy Moyo, said the new policy also seeks to create a national minerals balance sheet through effective exploration. He said the new policy will allow for the participation of small scale miners in empowering communities and highlighted the importance of working with other ministries which include Home Affairs, Environment, Water and Climate as well as Finance and Economic

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  • Exploration way to go for mining

    The mining sector has potential to turnaround the economy, if investment is channelled towards exploration and new mining development, a senior Chamber of Mines official (CoM) said. Zimplats CEO, Alex Mhembere Zimplats chief executive and CoM president Alex Mhembere told delegates attending the 6th Mining and Infrastructure Indaba in Harare yesterday that approximately 60% of the country’s land surface comprises of vast mineral resources not yet adequately quantified. “There has been a significant increase in mineral production since 2009 but growth is expected to moderate due to the lack of capital investment in mineral development and exploration.” Government recently resuscitated the Mining Promotion Corporation (MPC), an exploration company set to enhance efforts in quantifying the country’s mineral resources and reserves for mining development. Mines and Mining Development minister Walter Chidhakwa expects the company to complement exploration efforts by private players as government search for partners in exploration. “As the State,

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  • Zim to seize unused mines

    HARARE – Zimbabwe plans to seize unused mines and hand them to productive local and international miners, the country’s Mines minister Walter Chidhakwa said. He said government would repossess the non-productive miners’ claims. “Those fortunate enough to have these claims must use them. Let me take this opportunity to encourage those that sit on concessions to seriously begin to work on these properties so that they can contribute towards national economic growth,” Chidhakwa said at the commissioning of Zimbabwe and Russia’s $3 billion platinum project in Darwendale on Tuesday. “We are not in support of such selfish practices, and government is going to repossess such claims,” he warned, adding that some companies “hold concessions merely for speculative purposes at the expense of the nation”. He said there were numerous investors, local and foreign, who were eager to begin mining operations in Zimbabwe, but were being crowded out by unproductive concession

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  • MINING GOLD: Mercury poisoning: The slow, silent killer

    Sunday Mail: by tendai chara | Sunday, Sep 7, 2014 | Thousands of Zimbabweans living in areas where gold panning activities are the main source of livelihood are on a daily basis exposed to mercury poisoning. The atmosphere is electric. Dirty and shabbily dressed men — most of whom are wearing overalls and gumboots — wriggle to the music that is blaring from a speaker hung on a pole and dagga hut. Amid the pomp and fanfare, a scuffle ensues and a man suddenly withdraws a two-edged knife from his back pocket and viciously stab his rival. The attacker, without showing the slightest hint of remorse, simply walks away as the injured reveler moans in agony. As he walks away, the attacker is heard shouting obscenities, boasting that he can kill and get away with murder. Drinking places that are frequented by illegal gold miners are synonymous with extreme cases

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  • Govt decentralises mining districts

    HARARE – Government on Friday gazetted a statutory instrument decentralising the country’s mining districts, in a move meant to rationalise operations in the ministry. This comes as Mines and Mining Development deputy minister Fred Moyo recently announced that government had abolished the posts of chief mining commissioner, mining commissioners and assistant mining commissioners in line with the ministry’s new structure. “It is hereby notified that the minister of Mines and Mining Development in terms of section 324 of the Mines and Minerals Act (Chapter 21:05), hereby makes the following notice, “This notice may be cited as the Mines and Minerals (Mining Districts) Notice 2014- Abolition of new districts-The following mining districts have been abolished- Harare, Kadoma, Gweru, Bulawayo and Masvingo. “The new mining districts will be Mashonaland West, Mashonaland Central, Mashonaland East which includes Harare province, Manicaland, Midlands, Matabeleland North which includes Bulawayo province, Matabeleland South and Masvingo,” the government

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  • Disbursement of $100m Chinese loan to start this month

    MINES and Mining Development minister Walter Chidhakwa said funding for small-scale miners under the auspices of the $100 million equipment loan facility by the XCMG — a Chinese company — is expected to be availed by end of the month. TARISAI MANDIZHA BUSINESS REPORTER This development follows the recent signing of a $100 million equipment loan facility for small-scale miners between the government and XCMG, Chinese mining equipment suppliers last month. Speaking at the Parliamentary Portfolio Committee on Mines and Energy yesterday, Chidhakwa said the ministry has contracted an organisation to put in disbursement profile to ensure the right people will benefit from this exercise. Chidhakwa said the loan facility was among other steps taken by government to formalise artisanal miners in Zimbabwe and the loan facility was a revolving fund which is expected to benefit many others. “The money will be available at the end of this month and

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  • Government to host an all-stakeholders meeting

    GOVERNMENT is set to host an all-stakeholders meeting next month to discuss how the various statutes that affect artisanal mining can be harmonised.TARISAI MANDIZHA BUSINESS REPORTER Mines and Mining Development deputy minister Fred Moyo said on Tuesday the five ministries whose mandates span across the mining sector — Environment, Water and Climate, Youth, Indigenisation and Economic Empowerment, Local Government, Urban and Rural Development, Finance and Economic Development and Home Affairs — would attend the meeting. He said the Chamber of Mines, the financial services sector and small scale miners’ leadership among others were also expected to participate in the event. Moyo said artisanal mining was being driven in two fronts which were funding and formalisation of the various statutes that affected mining. “On artisanal miners the project is being driven on two fronts, one is funding the other is formalisation of the various statutes that affects mining and at their

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  • Govt decentralises mining sector

    Herald Reporters Government has decentralised mining districts and is set to open offices in eight provincial capitals in order to meet service demand and enhance monitoring and surveillance of mining activities countrywide.This comes in the wake of the proliferation of mining activities all over the country. Previously, mining districts were only in Harare, Kadoma, Gweru, Bulawayo and Masvingo and people had to travel for long distances to access services. Addressing journalists at a Press conference in Harare yesterday, Mines and Mining Development Deputy Minister Freddy Moyo said Government also abolished the posts of chief mining commissioner, mining commissioners and assistant mining commissioners in line with the ministry’s new structure. He said the restructuring was expected to accelerate revenue inflows into the fiscus and to ensure staff with relevant technical qualifications man the provincial offices. “The five mining districts have been decentralised to eight mining provinces as per eight rural administrative

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