Home News Top 5 Mining Headline Stories of the Week.

Top 5 Mining Headline Stories of the Week.

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1. The presence of Anjin in Zimbabwe’s mining sector is in line with Government policies, which are all aimed at transforming the economy into an upper middle incomesociety by 2030, Mines and Mining Development Minister Winston Chitando said yesterday.

This follows claims by some sections of the media that the Chinese government was involved in Anjin’s operations, which Minister Chitando said were desperate efforts designed to tarnish the good bilateral relations between Zimbabwe and China.

He said mining agreements were done after due diligence processes that protected national interests in line with policies outlined by President Mnangagwa. Source: The Herald .
2. Platinum group metals (PGM) producer, Zimplats’ capital expenditure dropped 9.3 percent to US$104 million in the year to June 2020, compared to the same period last year, according to a preliminary report released by the group on the Australia Stock Exchange where its shares are listed.

Zimbabwe’s largest PGMs miner said the expenditure on capital projects, which covered stay in business programmes, replacement mines and expansion projects, fell short of the US$115 million spent in 2019.

This came as the group sailed over the uncertainty caused by the outbreak of the coronavirus to post sterling financial performance largely on account of better metal prices. Source: The Zimbabwe Mail.

3. Zimbabwe is risking the environment and wildlife in its biggest game park after the government, already battling to explain the deaths of 22 elephants, granted coal mining concessions to several Chinese companies in the Hwange National Park.

The decision has drawn widespread criticism from environmentalists who now fear the coal mining activities will harm the environment and worsen human-wildlife conflict as animals move location to get away from disturbances to their habitats.

Concerns have also been raised by scientists who say the government should prioritize sustainable environmental programmes such as tourism and wildlife conservation in the Hwange National Park rather than potentially destructive mining activities for coal which Zimbabwe still relies on heavily for its electricity generation. Source: QZ Com.

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4. Stakeholders in the mining industry have urged government to revive is legacy efforts in formalising the artisanal mining sector to curb crime, black market trading and illicit financial flows IFFs.

Speaking during a virtual discussion organised by Zimbabwe Allied Diamond Workers Union ZIDAWU, Proud Nyakunu, ZIDAWU legal officer called for revival of formalisation efforts and support for the policy to formalise small scale and artisanal miners.

Nyakunu said, then government used a combination of district and nationally administered licensing and capacity building measures to formalise until political will dwindled, with it so were financial resources. Source: 263 chat.

5. Aim-listed Caledonia Mining Corporation has raised $13-million for the construction of a solar power plant to supply electricity to the Blanket gold mine, in Zimbabwe, through the sale and issue of about 600 000 shares in the company, pursuant to an “at the market” (ATM) sales agreement with Cantor Fitzgerald.

Following the issue of the ATM shares, the company has 12.1-million shares in issue.

As announced on July 24, Caledonia made an application to the Aim for a block admission in respect of up to 800 000 new depositary interests representing the same number of shares in the share capital for the company that will rank pari passu with the existing shares in issue.

Given that Caledonia has now raised the maximum amount of funds sought under the ATM sales agreement, the company has cancelled the remaining portion of the block admission – about 202 000 depository interests – effective. Source: Mining Weekly

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