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Zimbabwe sells gold refinery to group of miners for US$49m

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HARARE – Ten companies are to take control of Zimbabwe’s privatised gold refinery for US$49 million, Finance minister Mthuli Ncube said Thursday.

This will be the first time that the refinery will be in private hands since it was established in 1988.

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The sale, first announced in December last year, will see the new shareholders owning 60% of Fidelity Printers & Refiners, while the Reserve Bank of Zimbabwe (RBZ) retains the remaining 40%.

“The process of partial privatisation of Fidelity Printers and Refineries through offering 60% of its shareholding in the gold refinery business to producers of gold. The Central Bank will remain with 40% in the gold refinery company and 100% in the printing, minting and gold financing business. Ten shareholders have so far accepted to take shareholding in Fidelity Gold Refinery at a total consideration of US$49 million,” Ncube told Parliament as he presented a budget review statement.

He did not name the shareholders.

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However, under the ownership structure announced last year, companies would take shareholding based on the average quantity of gold delivered to Fidelity over the previous three years. Large scale miners will hold a 50% shareholding, while 3% will go to gold buying agents and the remaining 7% to the small scale producers through their representative bodies.

Among the country’s largest gold producers are Kuvimba – which controls Freda Rebecca, Shamva and other mines – Caledonia Mining, which runs Blanket, and RioZim, which owns three gold mines.

Kuvimba’s biggest mine, Freda, produced 2,7 tonnes last year. Blanket Mine produced 1,6 tonnes while output at RioZim was 1,21 tonnes for 2020.

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The privatisation of FPR came after lobbying from some players in the mining business.

It follows the model of Rand Refinery, South Africa’s biggest refinery, which is owned by the five largest gold miners Anglogold Ashanti, Gold Fields, Harmony, Sibanye Gold and DRDGOLD.

However, the privatisation will create fresh controversy over the ownership of mining assets, given the leading role that Kuvimba, whose shareholding structure has been subject to public scrutiny, is likely to play due to its commanding output.

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FPR started refining gold in 1988, and at its peak producers from abroad sent in their gold for refining at its Msasa refinery. However, FPR has not used most of its installed capacity to refine 50 tonnes of gold per year, and its new owners will have to invest substantially in retooling.

The company, which buys gold from miners from at least a dozen centres around the country, has struggled to pay miners on time for gold deliveries, pushing miners to call for its privatisation. – newZwire

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National

Chidzivo, Waison take top honors at Vic Falls Marathon

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BY NOKUTHABA DLAMINI 

Blessing Waison and Fortunate Chidzivo took top honors at the 2025 Econet Victoria Falls Marathon yesterday, as Zimbabwean long-distance runners excelled at Africa’s most prestigious road race.

Econet General Manager – Marketing, Mrs Tariro Muchena (left), and Finance Director, Mr Chengeto Moyo, present the winner’s prize to men’s marathon champion, Blessing Waison, at the 2025 Econet Victoria Falls Marathon, while Victoria Falls Mayor, Mr Prince Moyo, looks on

The event, which featured athletes from over 40 countries, saw Waison storm to victory in the men’s full marathon, clocking 2 hours, 13 minutes, and 16 seconds. He narrowly beat decorated Olympian Isaac Mpofu in a thrilling duel that brought thousands of spectators to their feet.

Godwin Katakura followed closely in third, completing an all-Zimbabwean podium sweep in the 42.2km race. The trio’s success came with bigger rewards this year, after Econet Wireless doubled the total prize purse to $50,000.

Waison walked away with $3,000, while Mpofu and Katakura earned $2,000 and $1,500, respectively.

In the women’s marathon, Chidzivo delivered a commanding performance, clocking 2 hours and 42 minutes to claim another major title in her illustrious career. Ethel Pangiso and Phillipa Dube completed the women’s podium in second and third place, respectively.

Rising star Wayne Kabondo turned heads in the men’s 21km half marathon, overcoming a formidable field to finish in 1 hour, 3 minutes, and 44 seconds. Kabondo pocketed $1,500 for his efforts.

In the women’s 21km race, Caroline Mhandu crossed the line in 1 hour, 17 minutes, and 50 seconds, ahead of Miriam Sibanda and Melody Kaseke.

The marathon’s inclusive spirit was evident in the 18km Specially Abled Races, which saw uplifting performances across different categories. Godknows Hamadziripi claimed the men’s tricycle title, while Samson Muroyiwa won the handcycle event.

Among the women, Stella Jongwe triumphed in the handcycle race, and Ratidzo Tomu took first position in the tricycle category.

Organized by Econet Wireless in partnership with Wild Horizons, the 2025 edition drew over 5,000 participants and spectators from more than 40 countries. The marathon route, widely regarded as Africa’s most scenic, winds through game reserves and offers spectacular views of the Zambezi River and Victoria Falls.

https://x.com/vic_falls_live/status/1941861569450725776?s=46

Beyond the races, this year’s event featured live music, traditional dance, health expos, and community wellness activities.

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Zimparks launches elephant culling program

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BY NOKUTHABA DLAMINI

In a bid to address the growing elephant population in Save Valley Conservancy, the Zimbabwe Parks and Wildlife Management Authority (ZimParks) has issued permits for a controlled elephant management exercise.

The exercise, slated to commence shortly, aims to cull an initial 50 elephants from the conservancy, which is currently home to 2,550 elephants – more than three times the ecological carrying capacity of 800 elephants.

According to ZimParks, the conservancy has been struggling to cope with the swelling elephant population, which has put a strain on the wildlife habitat and resources. Over the past five years, the conservancy has translocated 200 elephants to other areas, including Hurungwe and Sapi, in an effort to manage the population.

Zimparks says the controlled culling exercise is expected to provide relief to the conservancy’s ecosystem, while also benefiting local communities.

Elephant meat from the exercise will be distributed to local communities while the ivory will be kept by the State.

In a statement, ZimParks spokesperson Tinashe Farawo emphasized the authority’s commitment to responsible and sustainable wildlife management.

“We remain committed to ensuring that our wildlife resources are managed in a responsible and sustainable manner, for the benefit of present and future generations.”

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In the community

Hwange police seek public’s help in locating missing teen

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BY STAFF REPORTER 

The Hwange police are urgently seeking the public’s assistance in locating 16-year-old Latoya Lisa Munkuli, who went missing on May 7, this month.

Latoya, a dark-complexioned female juvenile, was last seen leaving her residence in Hwange around 4 pm.

She was wearing a distinctive outfit consisting of green trousers and a white T-shirt, and carried a black satchel. She stands approximately 1.6 meters tall.

Inspector Glory Banda of the Hwange police is leading the investigation and urges anyone with information about Latoya’s whereabouts to come forward.

If you have any information about Latoya’s disappearance, please contact Inspector Banda on 0785961747 or 0771256607.

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