Connect with us

Slider

B2Gold of Canada weighs acquiring gold assets in Zimbabwe

Published

on

BY FELIX NJINI AND KATARINA HOIJE

B2Gold Corp., the Canadian company that owns mines in Africa and the Philippines, is interested in acquiring gold assets in Zimbabwe.

Advertisement

The mid-tier gold producer, which has mines in Mali, Namibia and the Philippines, has held talks with the government and other officials in the southern African nation “to see if they are ready for us to come in,” said Clive Johnson, chief executive officer of the Vancouver-based company.

“There is really a strong case and we are making that case in Zimbabwe,” Johnson said in a November 24 interview. “We are looking at it as intriguing potential with some advanced projects as well as exploration potential.”

B2Gold weighed buying an idled Zimbabwean gold mine two years ago, but wanted authorities to exempt it from a law that forces miners to sell all the metal to a unit of the country’s central bank, Bloomberg reported, citing people familiar with the details.

Advertisement

Zimbabwe desperately needs fresh investment in its key mining sector to reboot a struggling economy.

Still, forcing gold miners to sell the bulk of their bullion to the central bank unit, Fidelity Printers and Refiners Ltd., which then pays them back partly in dollars and partly in rapidly depreciating local currency, is unnerving to new investors.

Winston Chitando, the mines minister, said that B2Gold has shown interest in investing and is holding talks with privately owned gold mining comnpanies.

Advertisement

B2Gold would consider buying operating assets in Zimbabwe and also enter into joint ventures and the company could also explore the potential for establishing a milling plant, the CEO said.

The miner is also searching for gold in Finland, Uzbekistan and is seeking to build a new mine at the Gramalote project in Colombia with AngloGold Ashanti Ltd.

Zimbabwe’s output of the precious metal, which the nation relies on for most of its foreign-exchange earnings, is forecast to rise 12 percent to 28 tons this year, Fidelity Printers said.

Advertisement

The government has previously projected gold production to increase to 100 tonnes by 2023.

“It’s an interesting area for us geologically and that’s what we looking for in the world,” said Johnson, who has led the company since it was founded in 2007.

“We will probably enter the first part of next year a bit more confident to talk more about what we see there as the potential.” – Bloomberg

Advertisement

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Lifestyle

Dawn Thandeka King to headline lmiklomelo KaDakamela festival in Nkayi

Published

on

BY NOKUTHABA DLAMINI

The hills of Nkayi are set to come alive as preparations for the iMiklomelo kaDakamela Cultural Festival reach an advanced stage, with organizers confirming that acclaimed South African actress and musician Dawn Thandeka King will be the guest of honor.

Advertisement

The festival, which runs from  3 to 6 April, at the Chief’s homestead, promises a vibrant celebration of music, sport, and traditional experiences that aim to put the district on the global cultural map.

Organizers expressed their excitement over the arrival of the South African star, noting that “her presence brings star power, inspiration, and cultural pride to Nkayi.” The actress will be joined by other high-profile guests, including Gama Mbokane from Tanzania, Prince Wandile Ngobese, and Umntwana waseZibindini uThulani kaGqikazi kaSolomon.

Adding a feat of incredible endurance to the festivities, organizing committee member Dr Gasolo is currently preparing to walk 205km from Bulawayo to ko Dakamela to amplify the voices of local creatives. Dr Gasolo, who recently returned from Zambia where he was part of the “Walk Across Africa” team, will embark on this local trek before heading to Ethiopia later this year to rejoin the journey to Cairo, Egypt.

Advertisement

Festival coordinator Desmond Ntini confirmed to Southern Eye reporter, Margaret Lubinda that the packed programme includes campfire storytelling, traditional bush dinners, and a unique camping experience. “The chief will take centre stage as the guest storyteller,” Ntini said. The event will also feature the return of the popular Amahubo sessions and sporting events like the trademark Bosso social soccer match and the introduction of cricket, Emakhaya.

Beyond the entertainment, the festival serves a deeper purpose of community empowerment. Workshops will be held to teach villagers how to monetise waste, such as plastic bottles, alongside an empowerment workshop for local artists hosted in collaboration with the Isintu Festival.

This local initiative aligns with recent discussions in the National Assembly regarding the vital role of the tourism sector and heritage preservation. Lawmakers have noted that heritage preservation is a “crucial cog for maintaining the national identity, fostering cultural diversity, driving tourism growth and promoting economic development at large”  Members of Parliament have further observed that cultural tourism is a “powerful driver of economic growth” that has the ability to “transform lives at the grassroots level,” particularly for women and youth .

Advertisement

However, the road to the festival has not been without its hurdles. Ntini noted that extending the festival’s duration has led to funding challenges. “Our main challenge centres on funding,” he said. “Large numbers of people from the koDakamela community attend, and they also need to be catered for. We are appealing for more support.”

Additional Source: Southern Eye.

Advertisement
Continue Reading

In the community

Heavy rains worsen condition of Binga’s poor road network

Published

on

BY STAFF REPORTER 

Communities in Binga are facing worsening road conditions after heavy rains damaged key routes, prompting urgent calls for rehabilitation and government intervention.

Advertisement

Binga South legislator Fanuel Cumanzala said several major roads in the district have been severely affected by incessant rains, disrupting transport and access to essential services. 

He cited the Karoi-Binga Centre Road, Binga Centre-Cross Dete Road, Kariangwe-Lusulo Road, and Gwai-Lusulo Road as critical routes in need of urgent attention.

“The state of these roads is now a serious concern for our communities as they are no longer easily accessible,” Cumanzala said 

Advertisement

“People are struggling to reach markets, health facilities and schools due to the damage caused by continuous rains.”

Transport and Infrastructural Development minister Felix Mhona said the Karoi-Binga Road, a 192-kilometre inter-provincial route linking Mashonaland West to Matabeleland North, has only 62 kilometres surfaced, with the remaining 130 kilometres gravel. 

He said plans were underway to upgrade the gravel sections.

Advertisement

Mhona added that the Karoi-Binga-Cross Dete Road has been earmarked for rehabilitation under a Public-Private Partnership, with an investor’s expression of interest currently under consideration. 

On the Kariangwe-Lusulo and Gwai-Lusulo roads, he said ongoing works are focused on repairing rain-damaged structures.

“Contractors working along the Bulawayo-Victoria Falls Road have also been engaged to attend to nearby damaged structures,”Mhona said.

Advertisement

“As a ministry, we will continue assessing the situation and submit funding requests for full rehabilitation as a long-term solution.”

He noted that several roads in Binga District have outlived their lifespan and require urgent rehabilitation, adding that upgrading costs have been calculated and projects will be implemented gradually as funds become available.

In the meantime, he said the ministry will continue routine maintenance efforts such as re-gravelling and pothole patching in collaboration with local stakeholders.

Advertisement

“We are committed to improving the road network in Binga to enhance access to markets, healthcare and education facilities while ensuring long-term sustainability of the infrastructure,” Mhona said.  Source: Southern Eye 

Advertisement
Continue Reading

In the community

Speaker proposes national hotline for flood-prone districts like Tsholotsho

Published

on

BY NOKUTHABA DLAMINI 

The National Assembly recently held an urgent debate on the state of national disaster preparedness, with lawmakers warning that the current lack of resources at the district level is costing lives

Advertisement

During the session, Clemence Chiduwa presented a somber report on a tragedy in Zaka South where two men died after being marooned for twelve hours following the capsizing of their boat . Emphasizing the gravity of the situation, he told the House, “The loss of life in Zaka South was not a local tragedy; it is a national warning as this is also happening in other districts”

Chiduwa argued that the failure of local units to respond quickly is a symptom of broader underfunding and lack of equipment, stating, “It reminds us that the disaster response delayed is disaster response denied”. He further observed that “institutions without tools cannot save lives,” calling for the Rural Infrastructure Development Agency (RIDA) to be adequately resourced with the machinery and financial support necessary for timely road and bridge rehabilitation.

Addressing these concerns, the Speaker of Parliament reminded the members that the state must utilize its existing resources, particularly the military’s air capabilities which have proven effective in the past.

Advertisement

The Speaker specifically highlighted previous successful interventions, noting, “The helicopters from the army are always ready to come in and they have done so in the past, especially during Cyclone Idai and also when there were floods in Tsholotsho”.

To improve response times in flood-prone areas across Matabeleland North, the Speaker proposed the implementation of a national emergency line. He suggested that “what we need to really push for is hotline availability to all districts, if not all wards, so that as soon as they experience that, they phone that hotline straight to headquarters and the army will react accordingly”. This initiative aims to ensure that communities like Tsholotsho can bypass local infrastructure failures and receive immediate military assistance during future flood events.

Advertisement
Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage