Home News Top 5 Mining Headline Stories of the Week.

Top 5 Mining Headline Stories of the Week.

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  1. Rio Zim Limited says it has not yet identified and rectified the exact loose area which caused the falling of the rock that caused the death of the female dump truck driver who was on duty at its Murowa Diamond Mine last Tuesday night.
    In a telephone interview with Great Dyke News24, Rio Zim Group Corporate Affairs Executive, Wilson Gwatiringa said they experienced a freak accident as the rock that fell disintegrated from the intact granite walls.
    It’s almost one week and the police and mining stakeholders are still carrying out investigations on the scene of the accident on what might have caused the rare incident. Source: Great Dyke News24.
  2. The Zimbabwe Republic Police (ZRP) has warned illegal miners in the country that they risk facing the full wrath of the law if they continue operations disregarding Covid-19 national lockdown regulations.
    In April, President Mnangagwa allowed registered miners to resume operations during the Covid-19-induced lockdown but the police have constantly had run-ins with illegal miners who continue operating thereby violating lockdown regulations.
    Posting on their official Twitter account the ZRP warned that anyone caught practicing illegal mining activities risked being arrested for violating lockdown regulations.
    “Members of the public carrying out illegal mining activities risk being arrested and prosecuted. In Nkayi on 17/8/20, 22 people were arrested for violating Covid-19 lockdown measures when they were found at Riverside and Pinch mines. Three ball mills and one crusher were recovered during the arrest of the illegal miners,” reads the tweet. Source: The Zimbabwe Daily
  3. Zimbabwe’s exclusive gold buying and marketing arm, Fidelity Printers and Refineries (FPR), is envisaging a boom in gold deliveries following new payment modalities that have been roundly welcomed by miners on the back of a slump in deliveries.
    Statistics from FPR show that gold deliveries for the month of July plunged by a staggering 49,3 percent compared to the same month in 2019 after miners delivered only 1 406 tonnes this July compared to 2 776 tonnes in the same month last year.
    The magnitude of the slump is further illustrated by the fact that last year was not necessarily a good year as far as gold deliveries to the state buyer and marketer are concerned as annual deliveries totalled 27, 6 tonnes against a set target of 40 tonnes. Source: The Herald
  4. GWANDA-BASED mining concern Blanket Mine has spent approximately US$3 million on capital equipment to mitigate the problems arising from the poor electricity supply in the country, the company management has said.
    In its latest management analysis report, Caledonia Mining Corporation which controls Blanket, said its unit in Gwanda had suffered from frequent and prolonged power outages due to load shedding.

“Since January 2018, Blanket has suffered 328 low voltage occurrences which have required the use of the diesel generators; low voltage occurrences in conjunction with load shedding have resulted in over 11 000 hours of genset use, consuming over 2,5 million litres of diesel at a cost of approximately US$2,5 million,” the company said. Source: Newsday

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  1. South African miner Impala Platinum IMPJ.J (Implats) on Thursday flagged a more than 300% surge in annual earnings, boosted by an increase in metals prices and a weaker rand currency.
    The platinum miner expects headline earnings per share (HEPS) for the year ended June to be between 20.07 rand ($1.17) and 20.84 rand per share, or 374% to 393% higher, compared with 4.23 rand a year earlier.
    HEPS is the main profit measure used in South Africa.
    Higher platinum group metals prices (PGM) have boosted profits for South African platinum miners, the world’s top producer of the metal, despite COVID-19 restrictions and a lockdown that temporarily shut operations.
    Implats said during the period it had delivered production volumes at the top-end of its previous guidance given in June of 2.77 million to 2.795 million ounces.
    Overall, the pandemic impact saw the country’s total mining output contract for a fourth consecutive month in June, down 28.2% year-on-year, with PGM production 42.5% lower.
    Implats’ gross profit is expected to increase to 23 billion rand in the period from 7 billion rand a year ago, despite an expected 5% decline in refined and saleable PGM’s to 2.8 million ounces relative to the comparable period. Source: Nasdaq.com

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