Home News Top 5 Mining Headline Stories of the Week.

Top 5 Mining Headline Stories of the Week.

611
0

1. Fidelity Printers and Refiners has hiked the gold price from US $45 with the company’s General Manager Fradreck Kunaka saying the prices will be changing according to the world market on a daily basis.

According to Fidelity, SG 90% and above is pegged at US $52.01 per gramme while SG above 85% but below 90% is pegged at US $51.14 per gramme.

SG above 75% but below 80% fetches US $49.40 per gramme, a sample below 10 grammes but above 5 grammes is pegged at US $50.66 per gramme while fire assay cash is at US $52.30 per gramme.

The hiking of prices come after Fidelity reviewed the gold price on the 26th of May to US $45 USD per gramme for small scale miners after concerns raised by the producers who now account for 60 % of deliveries to the only designated gold buyer. Source: Great Dyke News 24.

2. President Emmerson Mnangagwa has called on mining companies operating in the country to partake in infrastructure development as they utilise rich deposits for the benefit of communities they operate in.

President Mnangagwa made the call while officially opening South Mining (Pvt) Limited’s coal coking plant in Hwange on Thursday.

On Thursday he visited Western Coal and Energy Company’s Western Areas coal project, South Mining’s coking plant, Jin An’s Tutu coking plant as well as Hwange Colliery’s Chaba Mine. Source: The Herald.

3. ZIMBABWE mining group, Premier African Minerals, which owns RHA Tungsten project in Hwange, has commended the Government for facilitating progress towards operationalising the tungsten investment. 


In 2019, Premier announced that it had signed an agreement with the National Indigenisation and Economic Empowerment Fund (NIEEF), and the deal was expected to see Government advancing US$6 million to commence production at the RHA Tungsten project.

The mining group holds 49 percent in RHA Tungsten mine while the Government, through NIEEF, controls 51 percent.Source: The Chronicle.

Subscribe For Latest Updates

Sign up to get the latest GreatDyke news updates

Invalid email address
We promise not to spam you. You can unsubscribe at any time.

4. President Emmerson Mnangagwa has expressed confidence in the mining sector’s ability to achieve the 12-billion-dollar revenue target by 2023.

He is on a two-day visit in the Hwange mining town to get a first-hand experience of coal and coking coal mining operations in the resource-rich town.

Officially opening the South Mining plant, the President said he was impressed by the commitment shown by the sector in achieving the 12 -billion-dollar target by 2023.

“Our desire is to achieve higher middle-income status by 2030. However, that will not be achieved by mining sector alone, others must contribute. It does seem though that in the mining sector the vision is on course. Source: ZBC.

5. Anglo American Platinum (Amplats) lost 521600 platinum group metals (PGMs) ounces in the second quarter ended in June, due to the impact of shutdowns implemented in South Africa and Zimbabwe to curb the spread of Covid-19.

Amplats, a unit of the JSE-listed diversified mining giant Anglo American, recorded a 41percent year-on-year fall in PGMs, including rhodium and palladium.

The group said production at its own-managed mines also tumbled 40percent to 379400 ounces, although it was able to partially mitigate the Covid-19 shutdowns due to a high proportion of open-pit and mechanised operations, which could ramp-up at a faster pace than the conventional underground mines.

PGM production at Zimbabwe’s Unki mine also plummeted 40percent to 31300 ounces at the end of June.

Amplats said the mine was, however, operating at 100percent now and was expected to continue at this level to the end of the year. Source: iol.co.za

LEAVE A REPLY

Please enter your comment!
Please enter your name here