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Source: 6kg gold scam: Rushwaya convicted -Newsday Zimbabwe

ZIMBABWE Miners Federation (ZMF) president Henrietta Rushwaya has been convicted for trying to smuggle 6kg of gold out of Zimbabwe through Robert Gabriel Mugabe International Airport in 2020.

High Court judge Justice Pisirayi Kwenda yesterday convicted Rushwaya (56) and remanded her in custody to November 10, 2023 for sentencing.

Rushwaya was accused of trying to smuggle 6kg of gold worth US$333 042,28 out of Zimbabwe on October 20, 2020.

The ZMF president was indicted to the High Court for trial early this year.

Her accomplices, two Central Intelligence Organisation operatives Stephen Tserai and Raphios Mufandauya, were acquitted of the charges for lack of evidence at the close of the State case.

Rushwaya, however, denied the charges claiming that she mistakenly picked the bag containing the gold as she rushed to the airport.

On October 26, 2020, Rushwaya went through the VIP route at RGM International Airport evading police checkpoints.

When she went through an X-Ray monitoring machine, a suspicious object was identified in her luggage, leading to a physical search by a Civil Aviation Authority of Zimbabwe security officer.

The search yielded four gold bars and Rushwaya failed to produce an export permit and produced a commercial invoice and a packing list on behalf of Ali Japan 786 (Pvt) Ltd authorising her to transport the gold.

The State successfully argued that it was unlawful to export gold using such documents.

According to the law, Fidelity Printers and Refiners (Pvt) Ltd is the sole authorised gold exporter in Zimbabwe, while an individual requires a gold dealership licence.

Gold exports are accompanied by a bill of export, Fidelity Printers and Refiners commercial invoice, packing list from Fidelity, CD1 Form and a Reserve Bank of Zimbabwe authorisation letter.

Fidelity is also responsible for the movement of gold consignments to the airport and handover of the package to the courier on the airside.

Individuals and companies cannot physically process the gold or gold packages before entering the airside.

Rushwaya was acquitted last year in a bribery case linked to the smuggling allegations.

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Source: Zimplats invests US$516m on capital projects -Newsday Zimbabwe

PLATINUM miner Zimplats Holdings Limited spent US$516 million during the quarter to September this year on major capital projects, including the development of Mupani Mine and Bimha Mine upgrade.

In its latest quarterly report, Zimplats stated that most of its projects for the period under review progressed as planned.

The firm spent US$341 million on mine development and upgrade projects at Mupani and Bimha, with an additional US$57m committed, against a total budget of US$468m.

The two projects will replace Rukodzi Mine, which was depleted in the financial year (FY) 2022, and the Ngwarati and Mupfuti mines, which will be depleted in FY2025 and FY2028, respectively.

In the period under review, the smelter expansion and the sulphur dioxide (SO2) abatement plant project went as planned, with US$158m spent to date and a further US$256m committed, against a total project budget of US$521m.

Zimplats said it was embarking on a 35-megawatt solar plant project, the first of its four phases to be accomplished at an estimated total cost of US$201m to generate 185 megawatts.

“The project progressed successfully as planned during the quarter,” said the platinum miner.

“Implementation of the Base Metal Refinery refurbishment project progressed well during the quarter, with US$16 million spent to date, and a further US$14 million committed, against a total budget of US$190 million.”

Zimplats said exploration activities during the quarter focused on the ongoing surface diamond drilling programme at Ngezi and upgrading the group’s mineral resources.

The report showed that 8 024 metres were drilled as part of the exploration work during the quarter at a cost of US$0,8m, with a further US$0,5m committed as at September 30, 2023.

Ore mined volumes increased by 1% from the prior quarter with production benefiting from an additional operating day. Mined volumes increased by 4% from the prior year comparative period as pillar reclamation operations at Rukodzi Mine were introduced, and production at Mupani Mine continued to ramp up to design capacity, the report indicated.

Platinum, palladium, rhodium, gold, ruthenium and iridium (6E) head grade decreased by 2% compared to the same period last year due to increased contribution of low-grade Mupani Mine development tonnage to total ore milled.

However, it increased by 1% due to improved ore mix.

“The volume of ore milled increased by 1% to 1,96 million tonnes from the prior quarter. Ore milled increased by 13% from the prior year comparative period, benefiting from the increased milling capacity following the commissioning of the Ngezi Third Concentrator plant, in September 2022,” it said.

Zimplats said 6E metal in the final product increased by 1% from the prior quarter in line with milled volumes. However, metal in the final product was 18% higher than the comparative period which was impacted by a scheduled furnace shutdown.

In the period under review, the total operating costs increased by 17% compared to the same period last year due to inflationary pressures and power tariffs which amounted to 48,5%, increasing unit cost by 4%.

Transfers from closing stocks to operating costs amounted to US$0,9m during the period, a decrease of 67% in line with inventory movement in the value chain.

“As a result, cash costs of metal produced increased by 2% compared to the prior quarter, while unit cost per 6E ounce, at US$832, was comparable to the previous quarter,” further read the report.

The post Zimplats invests US$516m on capital projects appeared first on Zimbabwe Situation.

In a significant development, Henrietta Rushwaya, the president of the Zimbabwe Miners Federation (ZMF), has been found guilty of attempting to smuggle 6 kilograms of gold out of Zimbabwe through the Robert Gabriel Mugabe International Airport in 2020. The conviction was handed down by High Court judge Justice Pisirayi Kwenda, who remanded Rushwaya in custody […]

The post GAME OVER: Inside the dramatic fall of gold smuggler Henrietta Rushwaya first appeared on My Zimbabwe News.

Source: Chinese investors flock to Zim –Newsday Zimbabwe

THE Zimbabwe Investment and Development Agency (Zida) has issued 932 licences to various investors across the globe since its inception in 2020, with the majority of them coming from China, NewsDay Business can report.

Chinese investors have expressed keen interest in Zimbabwe’s mining and manufacturing sectors.

“The agency has issued a total of 932 new licences since its inception in 2020 and continues to put in place measures to improve investment attraction and facilitation in the form of investment promotion programmes and improving its processes and procedures,” Zida said in its third quarter report.

“Since April 2023, the agency has been operating an online system in processing licence applications and handling investment enquiries. This has contributed to an increase in the number of licensed investors … where more projects were licensed in 2023 compared to 2022 on a quarterly basis and year to date.”

The organisation said the surge in investor confidence was testament to the “robustness of the country’s investment ecosystem” and the efforts “we have channelled towards informing the world of the bountiful investment opportunities” and collective government thrust to continually improve and simplify the business environment.

During the third quarter of this year, Zida issued 180 new licences to various investors across the globe. These are expected to invest US$3,4 billion. Year-to-date, Zida has issued 469 licences with a combined projected value of US$5,24 billion.

During the third quarter, 82% of projected investment value for all new licence approvals was issued in the energy sector, with a projected value of US$2,8 billion. It was followed by the mining sector with 86 new licences valued at US$411,97 million being issued.

The report further notes that the largest investment was by New Eagle Industrial Park which intends to invest US$2,3 billion towards the development of an energy industrial park in Mapinga.

This was followed by Simone (Pvt) Ltd with US$496,8 million towards the development and operation of 500 megawatts solar plants in Mazowe, Manhize and Mutoko.

“All duly licensed investors enjoy unfettered access to Zida’s full range of services from establishment to aftercare. Licensed investors are also expected to implement their projects as licensed and follow-ups are done to ensure compliance as licensed through monitoring and evaluation of the projects by the agency,” Zida said.

The agency also approved an application for the establishment of a power and metallurgical special economic zone in Mtetengwe communal lands, Beitbridge, on a piece of land measuring 5 163 hectares by Xinatai Resources.

“There are two applications namely Goromonzi Industrial Company Pvt Ltd and Green Fuel (Pvt) Ltd which secured approval for designation in Q2 (second quarter) and Q1 (first quarter) respectively, are currently awaiting formal designation.

“The two applications are under consideration pending submission of complete information   for consideration by the agency. The pending applications seek to establish SEZs anchored on citrus production   and steel manufacturing respectively,” the agency added.

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Source: ‘Include youth in decision-making processes’ -Newsday Zimbabwe

Government and civil society organisations have been urged to prioritise the protection and empowerment of youth through their inclusion in decision-making processes, among others.

This was said by Youth Empowerment, Development and Vocational Training minister Tino Machakaire as the country joined the world to commemorate the Africa Youth Day yesterday.

Machakaire said a youth indaba was scheduled for the end of the month to provide a platform for various stakeholders to include the youth in decision-making processes.

“This is meant to open up access and a platform for President Emmerson Mnangagwa to dialogue with the youth while celebrating opportunities for young people to contribute and channel youth motivation, energy and creativity towards political, social, environmental and economic renewal,” Machakaire said.

He said it was important to strengthen youth efforts in socio-economic, political and environmental discourses.

“The Africa Youth Day celebration theme will rest on agenda 2063 Aspiration 6 to be specific, which calls for people-driven development, relying on youth.

“This innovative approach is designed to provide the big push and propel growth and transformation through fast-tracking the implementation of programmes identified by agenda 2063. In this regard, the ministry will weigh in realising this by ensuring the improved youth participation in the decision-making processes,” Machakaire said.

Africa Youth Day is meant to celebrate the energy, creativity and resilience of youth across the continent and in the diaspora.

According to the last census, the country has a young population, with approximately 61% under 25.

However, there is a serious unemployment problem with the unemployment rate for the country’s youth sitting at 35%.

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