Home News Top 5 Mining Headline Stories of the Week.

Top 5 Mining Headline Stories of the Week.

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1. After slow production during the Covid-19 lock down, Zimbabwe’s gold sector has had a drastic come back reporting gold revenue is up almost 50 percent at least one of its major mines.

The total revenue recorded for the second quarter of 2020 clocked and impressive to USD23. 6 million, that is almost double (48 percent) the revenue brought in during the same period last year.

Having topped last year’s production by USD15. 9 million, Blanket Gold Mine that is based in the Gwanda region, increased production all through the first quarter this despite glitches caused by the Covid-19 pandemic. Source:All Africa.com.

2. Following the successful launch of the US$51 million facility for farm mechanisation, United States-headquartered company John Deere now wants to expand the programme to US$250 million to include the supply of mining and road construction equipment.

The present US$51 million deal with the company was officially launched by President Mnangagwa last week and is testimony of the success of the Government’s re-engagement drive, which saw the first batch of the equipment arriving in Zimbabwe early this year.

Now in a letter to Permanent Secretary for Finance and Economic Development, Mr. George Guvamatanga, John Deere financial managing director for Sub Saharan Africa Mr. Antois van der Westhuizen, after praising the way the Government was implementing the first deal, said the company wanted to expand the operation.

The offer to the Government includes an additional US$49 million for farm mechanisation, US$100 million for construction and mining equipment and US$50 million for road making equipment, taking the total to US$250 million.Source: The Herald.

3. MZI Khumalo’s Metallon has completed the sale of Shamva Mine to Kuda Tagwirei’s Landela Mining Ventures, while the sale of Mazowe Mine is expected shortly.

The transaction represents a change of guard in the industry.

Metallon was once the country’s largest gold producer. It is now down to just a single working operation, How Mine in Bulawayo. Its other remaining mine, Redwing near Penhalonga, has been idled for over a year and is also up for sale.

As the sun sets on Khumalo’s gold empire, it is rising on well-connected Landela, which has used its influence to take over key mining operations over the past year.

Production at Shamva, which has stalled since last year, has now resumed after the change of ownership, Landela CEO David Brown said. Source: Bulawayo News 24.

4. A black granite mining concern, Yangshen Mining Company, has committed to set up a granite cutting and polishing factory in Mashonaland East province.

The setting up of the factory is in line with Government strategy to maximise on mineral value addition before exports.

The Chinese company has been mining the black granite in Mutawatawa area for the past two years and has been hugely impressed by the quality of rock being recovered.

Mines and Mining Development Minister Winston Chitando, toured the mine yesterday in the company of Mashonaland East Provincial Affairs Minister Apolonia Munzverengwi on a familiarisation visit. Source: The Herald.

Speaking after the tour, Minister Chitando said local beneficiation will see black granite exports surging from less than US$100 million currently to over US$500 million annually.

5. The shooting of two Zimbabwean workers by a Chinese boss shows the “systematic and widespread” abuse that locals face in Chinese mining operations, says the Zimbabwe Environmental Law Society (ZELA).

In a court affidavit, police said Zhang Xuen shot an employee five times and wounded another at the mine he runs in Gweru province, in central Zimbabwe, during a row with workers over outstanding pay.

Zhang has been charged with attempted murder, said Zimbabwe police spokesman Paul Nyathi.

According to local media reports, Zhang did not enter a plea because there was no approved interpreter in court. He will remain in custody until at least July 7, the report said.Source New Zimbabwe.com

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