The company considers buying operating mining assets in Zimbabwe. It also looks at opportunities to enter into joint ventures and explore potentials for setting up a milling plant in the country. The miner is also looking at new opportunities in Finland and Uzbekistan. B2Gold seeks to build a new mine in Colombia in partnership with AngloGold Ashanti Ltd., the press release said.
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The main coal miner, Hwange Colliery Limited, had a mandate to supply a big portion of its mining output to Zimbabwe Power Company (ZPC) at a price set by the government. Against an average international price of thermal coal of above US$100/tonne, ZPC paid them a local currency equivalent, which was less than US$1/tonne (at the parallel market rate). All other mining houses that had to export
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“Production costs going up in ZWL yet exchange rate for 40% is staying the same,” said Mtetwa. Recently, diversified mining group RioZim during the first quarter of 2021 said it did not benefit from a 12% increase in average gold prices due to the reduction of gold foreign currency retention threshold from 70 to 60% by the central bank.
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The trial suite and subsequent order total 44 pieces of low seam underground mining equipment, such as drilling rigs, mine trucks and loaders, and will be used in Ngezi Platinum Mine, Zimbabwe. The order was placed in the fourth quarter 2010 and deliveries of the equipment will start in March, 2011. More than 100 people are anticipated to be employed locally to service the equipment.
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