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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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Hwange

Buffaloes wreak havoc in Victoria Falls, residents living in fear

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BY NOKUTHABA DLAMINI 

Residents of Mkhosana in Victoria Falls are living in fear as a large herd of buffaloes continues to invade their communities, destroying vegetable gardens and posing a threat to human life.

https://x.com/Vic_Falls_Live/status/1853724332553314445/video/1

According to eyewitnesses, the buffaloes, estimated to be around 30-40, have been encroaching into the communities since June, with some residents reporting that they have been vandalizing their gardens as early as 8 PM.

David Mpofu

David Mpofu, a resident of Mkhosana, expressed his concern, saying, “We are living in fear because these buffaloes come every day, destroying our vegetable gardens. We want the Zimbabwe Parks and Wildlife Management Authority rangers to take action and chase them away.”

Trymore Ndolo

The Victoria Falls Combined Residents Association member, Trymore Ndolo, who was also at the scene on Monday night close to the CBZ houses, expressed frustration, stating that the buffaloes are becoming a menace and encroaching into high-density residential areas.

The issue of human-wildlife conflict is escalating due to the ongoing drought, with elephants also encroaching into communities in search of water and food.

Residents are crying foul as their source of food is being destroyed.

Last week, a large herd of buffaloes even invaded the Victoria Falls City Council water works premises, taking security guards by surprise and forcing them to hide.

In Mkhosana, the  buffaloes refused to budge until Zimbabwe Parks and Wildlife Management Authority officials arrived and chased them away.

Residents are calling for urgent action to address the situation and ensure their safety and security.

 

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Schools in Tsholotsho destroyed by heavy rains, learners left conducting lessons under the trees

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BY NOKUTHABA DLAMINI 

Last week’s heavy rains have left a trail of destruction in Tsholotsho, with two schools severely affected.

Nembe Primary School and Nembe Secondary School suffered significant infrastructure damage, displacing learners and prompting calls for urgent assistance.

 

According to Ward 22 Councillor Nkululeko Ndebele, the rains destroyed wall blocks, scattered blanks everywhere, and damaged walls at Nembe Primary School.

“The wall block of grade three and four was destroyed, and the office of the staff, administration block, and solar panels were also damaged,” he said.

At Nembe Secondary School, the block used by Form One and Two students was destroyed, leaving learners without classrooms.

“Currently, the children are learning under the trees because no action has been taken,” Councillor Ndebele lamented.

The District Schools Inspector visited the site on Monday to assess the damage, and a further visit is scheduled for today to determine the extent of the destruction.

Councillor Ndebele appealed for international assistance, citing the economic situation and drought ravaging the communities.

“Parents cannot afford to rebuild the schools, and we need help from anyone willing to assist,” he said.

Ndebele says the schools, built in the 1950s, have never been maintained, and their age has contributed to the extent of the damage.

“We are getting into the rain season, and we urgently need help to rebuild and restore these schools,” Councillor Ndebele emphasized.

 

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Bubi

Four months without answers: Mother pleads for help finding son

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BY NOKUTHABA DLAMINI

Try Ndiweni, a 38-year-old man from Bulawayo, has been missing since August 20. His mother, Catherine Ndiweni, is desperate for any information that can lead to his safe return.

“He showed the signs of not being well but on the Tuesday of his disappearance, l had just come back from the farm in Bubi, and when l asked why he was not answering the phone as l away, he started to search for it from his jacket accusing us of stealing it. I tried to calm him down, but he was persistent.”

His mother explained that Try has a history of mental health challenges and has been seeing psychiatrists since 2005

“We suspect that he had stopped taking his medication recently, and I’m worried about his well-being,” she said.

On the night of his disappearance, she said, “We were all asleep, and when we woke up, he was gone. He took his identity certificates and carpentry academic papers with him but left all his other belongings behind.”

The family suspects that Try might have crossed into Botswana, where he has resided before. However, efforts to locate him have been unsuccessful so far.

She is worried about her son’s safety and well-being.

“I’m worried sick about my son,” she said.

“I am also unwell, l have hypertension and diabetes so l thought he was following the instructions. I do not know what triggered him to stop, but as a family we are very much worried because he has never disappeared.

We ask ourselves day and night where he vanished because his twin brother attimes go quite and asks me where his brother is, what is he eating, bathing, what he is wearing, where is he sleeping and myself everyday around 2AM, l lose sleep and whenever l eat l think about him, but l hold on to God to answer my prayers because l do not know where he went.”

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Ndiweni is described as light in complexion, 1.5-1.7 meters tall, with a moderate build and bald hair. He was last seen wearing a red t-shirt and black shoes.

If you have any information about Try’s  whereabouts, please contact his mother Catherine Ndiweni at [‪+263 71 315 6336‬]

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