Home News Top 5 Mining Headline Stories of the Week.

Top 5 Mining Headline Stories of the Week.

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1. Mimosa through its partnership with the University of Zimbabwe has donated training and research equipment worth USD $326 000 to the institution’s department of metallurgical engineering.

The equipment consists of one AXS S8 Tiger Machine and other accessories, single port Ringmill in a soundproof, a ton hand operated manual hydraulic, and a set of ten calibration standard and 10kg wax binde.

Speaking on behalf of Mimosa Managing Director Fungai Makoni during the handover ceremony held in the capital, Mimosa Head of Corporate Affairs Ms. Elizabeth Nerwande urged the university to make the fullest use of the equipment, under government’s vision for tertiary institution to become a hub for exploration and research in mining.

2. Top Zimbabwean business tycoon John Bredenkamp has died.

He was 79.

Bredenkamp is famed with captaining the national rugby side in early parts of his life before Zimbabwe’s independence and was once reported to have a fortune of US$850 million from his business dealings in arms, tobacco trading and diamond mining.

“It is with a heavy and sad heart that the president of the ZRU announces the sad passing of our former Sables player and captain John Bredenkamp this morning,” the Zimbabwe Rugby Union (ZRU) said in a statement.Source: New Zimbabwe.

3. THE mining sector is in turmoil, with bureaucratic red tape and corruption, among other factors, causing loss of business confidence and sparking capital flight, businessdigest has learnt.

Although government is targeting to build a US$12-billion mining sector by 2023, inconsistency, double standards, double allocations, as well as incompetence caused by a bureaucratic system, could stand in the way if decisive action is not taken.

The mining sector is reeling under the impact of delays in processing of mining certificates, verification of applications, ground inspection, and delays in the settlement of disputes Source: Zimbabwe Independent.

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4. Local media reported that Zimbabwe’s biggest gold miner RioZim Ltd has stopped had stopped production due to delays in payments for deliveries to the country’s sole buyer of bullion, which left the company unable to meet its operational expenditures.

That made it difficult to pay for electricity, fuel and a portion of salaries, which are all denominated in US dollars.

The company has therefore been forced to stop production of bullion due to its inability to buy essential consumables and spaces and is actively placing all its gold mines on care and maintenance until a viable solution is found.

Gold is Zimbabwe’s single largest foreign currency earner, and Fidelity Printers and Refiners, an arm of the central bank, has a monopoly on buying and refining all the country’s output.

However, a shortage of foreign currency in Zimbabwe has led to payment problems in the mining sector. Steel Guru.

5. Cabinet on Tuesday shot down a request by environment and Tourism minister Nqobizitha Mangaliso Ndlovu to regularise illegal mining activities inside Zimbabwe’s national parks.

The government has resolved to ban all mining activity in the game park by directing the Zimbabwe Parks and Wildlife Management Authority (ZimParks) to stop allowing miners to access mineral-rich claims within the parks for a fee, abolish all mining activity and reserve the wildlife sanctuaries for animals.

ZimParks has been charging uS$4 000, which it said was meant to reclaim the environment and control rampant illegal mining.

Official sources told the Zimbabwe Independent that Ndlovu had pushed hard for the proposal to be adopted in cabinet. He enlisted the support of Mines and Mining Development minister Winston Chitando.

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