Home News Top 5 Mining Headline Stories of the Week.

Top 5 Mining Headline Stories of the Week.

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1. Under the use-it-or-lose-it policy, 213 mining concessions will be repossessed in the first phase while 21 000 hectares of mining land have been reclaimed following failure by owners to pay inspection fees according to Mines Minister Winston Chitando.

This is part of efforts by Government to ramp up measures to achieve a $12 billion mining industry by 2023.

These efforts are to create an investor-friendly environment, with mining companies prepared to invest in and operate mines having security, while those who staked claims and obtained concessions but just held them for speculation would have to give way for those willing to mine. Source: The Herald.

2. Landela Mining Venture is in discussions with the Zimbabwe Mining Development Corporation (ZMDC) to buy Sandawana emerald mines in the southern parts of Zimbabwe, it’s chief executive Mr. David Brown has said.

“We are assessing the potential of the gemstones and we are hoping to reach an agreement in the next few weeks,” Mr. Brown, the former chief executive of Impala Platinum Holdings, told our Harare Bureau in an interview on Tuesday.

The history of Sandawana dates back to 1955 when emeralds were first discovered in the country. The mine changed hands over the years and currently ZMDC has a majority shareholding at Sandawana Mines.

The mine consists of a number of emerald deposits including Ceres, Athene, Eros, Marmaid, Junc, Zeus, Atom, Plato, Vulcan among others. Source: The Chronicle.

3. Minister of Mines and Mining Development Winston Chitando shocked a parliamentary meeting review of Mines and Mining Development legislation and policies afterprofessing ignorance on the Extractive Industries Transparency Initiative (EITI), which civic society is pushing to curb rampant leakages and boost investor confidence in the sector. 

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The meeting was organised by the Parliamentary Portfolio Committee on Mines and Mineral Development to review legislation and policies governing the mining industry and was attended by various stakeholders including civil society and mining communities.

Responding to a question from Zimbabwe Environmental Law Association director Mutuso Dhliwayo on progress government made in the adoption of EITI, Chitando said he did not know about it. Source: 263 chat.

4. The world’s largest diamond producer, Alrosa, has begun preliminary exploration work for commercially viable primary diamond deposits in Zimbabwe in what can potentially catapult the country among the world’s leading diamond producers.

The mining venture is being undertaken by Alrosa Zimbabwe Limited (Alrosa Zim), a company that is jointly owned by Alrosa and Zimbabwe’s State-owned diamond mining company — the Zimbabwe Consolidated Diamond Company (ZCDC).

Alrosa, which accounts for almost a third of the world’s rough diamond production, has a 70 percent stake in Alrosa Zim with the remaining 30 percent being owned by ZCDC.Source: The Herald.

5. Impala Platinum, the world’s third-largest source of platinum group metals (PGMs), advised shareholders to expect full-year profits to jump by more than a fifth.

Implats, which has mines in SA and Zimbabwe, said on Thursday that investors should expect headline and basic earnings to be “significantly more than 20% higher” for the year to end-June.

On September 3, Implats will release its full-year results showing the consequences of higher dollar prices for the metals it produces as well as the effects of a weaker rand.

Implats sells its metals in dollars and pays costs mainly in rand. Source: businesslive.co.za

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