Home News Top 5 Mining Headline Stories of the Week

Top 5 Mining Headline Stories of the Week

  1. PGMs, gold to lead mining rebound

GOLD and platinum have been placed at the heart of efforts to push Zimbabwe’s mines back to growth next year, official data showed at the weekend, confirming the importance that government attaches to the country’s vast mineral endowment.

The data was released as President Emmerson Mnangagwa’s under fire administration battles to find solutions to a gruelling economic crisis which is now in its 20th year.

In an ambitious pre-budget strategy paper released on Friday projecting a sharp inflation slowdown by the end of 2020, Finance minister Mthuli Ncube promised to refine the investment climate and attract fresh capital to help overturn a projected 0,4% slowdown this year to a 7,4% growth in 2021. Source: Newsday

2. Ema warns registered miners on illegal activities

THE Environmental Management Agency (Ema) has warned registered miners against hiring out their machinery to illegal miners.

The agency said miners who hired out their machinery to such illegal miners will be made to pay the costs to rehabilitate the damaged land.

Last month, Government banned all riverbed alluvial and riverbed mining on rivers except on the Save and Angwa rivers where de-siltation will be allowed under strict conditions.

Illegal gold panners have however, continued with their activities in several parts of Matabeleland South province and Ema has warned that it is moving in to enforce the ban.

More than 500 miners were conducting riverbed mining which uses mercury to process the precious metal at the confluence of Insiza and Umzingwane rivers. Source: The Zimbabwe Daily

3. Miners Federation Calls For Reviving Defunct Mines In 2021 Budget

The Zimbabwe Miners Federation ZMF) has called on the government to allocate adequate funding for the reopening of mines under the ambit of the Zimbabwe Mining Development Corporation (ZMDC) to create employment in mining towns.

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Speaking recently ZMF chairman Makumba Nyenje gave the example of Sandawana mine in Mberengwa. Zimbabwe Mining Development Corporation (ZMDC) was established by an Act of Parliament No. 31 of 1982 to create a vibrant and versatile mining power house necessary to transform Zimbabwe’s mineral wealth to the world class standards by engaging in prospecting, exploration, mining and mineral beneficiation in a sustainable and viable manner for the benefit of the stakeholders. Source: Great Dyke News 24

4. Families of Miners Trapped Underground Stay Put After Rescue Efforts Are Suspended

Families of five Task Mining Syndicate workers trapped underground after a mine shaft collapse on September 8 are still camped at the mine despite the Government’s directive two weeks ago to suspend efforts to recover the bodies after it became clear that the five could not have survived four weeks without food and water.

The risk of death or injury to those battling to clear the shaft, with further collapse likely, was considered by technical experts not worth the result with the recommendation that the shaft be sealed as a grave-site.

The Government decided to halt rescue efforts on October 2, citing safety concerns but the families are refusing to give up hope of recovering the bodies.

A recommendation letter by Chegutu district’s Civil Protection Unit to abandon the search is still to be discussed by Cabinet but once it endorsed, all access into the shaft will be sealed off, making the site a formal grave for Constantino Dzinoreva (47), Charles Mutume (31), Crynos Nyamukanga (44) Shingai Gwatidzo (20) and Munashe Christian (17). Source: The Herald

5. China, Japan to lead platinum demand rebound over next four years

Platinum demand is set to fall by 7.2% globally this year, on the back of lower demand from the automotive and jewellery sector.

Typically, these sectors account for 34% and 24% of total demand, respectively, but Covid-19 had dampened the sector’s operations and their own demand, says data and analytics company GlobalData.

Particularly, China and Japan are the two biggest platinum-consuming nations and together account for 35% of platinum demand, says senior mining analyst Ankita Awasthi.

Demand from these countries is expected to fall by 9.2% and 11.8%, respectively, this year. Source.miningweekly.com


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