May 17, 2020

Zimbabwe’s mining industry anticipated to grow by 10% in 2018

Zimbabwe
Chamber of Mines of Zimbabwe
COMZ
Gold
Sophie Chapman
2 min
Batirai Manhando, COMZ President, calls for more financial efficient mining in ZimbabweBatirai Manhando, COMZ President, calls for more financial efficient mining in Zimbabwe
The Chamber of Mines of Zimbabwe (COMZ) has announced its forecast that the mining industry in the country will grow by 10% this year.

COMZ has predict...

The Chamber of Mines of Zimbabwe (COMZ) has announced its forecast that the mining industry in the country will grow by 10% this year.

COMZ has predicted that the sector will generate $3.7bn, sourced from mineral exploits, during the review period.

The industry is expected to reach $11bn by 2022, and $18bn by 2030.

The announcement followed the chamber’s annual general meeting, in which the President of COMZ, Batirai Manhando, confirmed that 10 out of 14, or 71% minerals recorded a rise in volume between the three months ending March 2018, compared to the first quarter of last year.

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The industry also had a successful year in 2017, with an overall growth of 8.5%.

“Notable increases are in gold, up 53%, coal 46%, nickel 18%, and cobalt, 13%,” noted the President of the Chamber, Batirai Manhando.

Manhando claimed the successful growth in minerals was due to gold, nickel, and chrome price recoveries.

However the COMZ President still queried finial inefficiencies and confusion within Zimbabwe’s mining sector.

“Our quest is for the government to provide [a] stable, competitive and optimal fiscal framework for the mining industry and simplify the fiscal regime from the high multiplicity of tax heads, tax regulatory instruments and collecting agents to a few tax heads, instruments and agents in order to reduce the burden of compliance,” Manhando added.

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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