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    Zimplats (Sydney:ZIM) www.zimplats.com - 500 Beiträge pro Seite

    eröffnet am 22.06.00 19:25:29 von
    neuester Beitrag 02.08.02 12:43:02 von
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     Ja Nein
      Avatar
      schrieb am 22.06.00 19:25:29
      Beitrag Nr. 1 ()
      Ich möchte Euch heute mal eine hochinteressante, hochspekulative Aktie vorstellen, nämlich Zimplats (früher Zimbabwe Platinum). Die Gesellschaft hat schier unglaubliche Platin-, Palladium- und Rhodiumreserven in Zimbabwe (heißes Pflaster, ihr wißt ...), und gehört zu 51 % zu Delta Gold, alte Delta Gold-Aktionäre haben mal eine Aktienzuteilung (1998 oder so) bekommen. Der Kurs ist durch die polit. Zustände in Zimbabwe ordentlich unter die Räder gekommen (ca. 23 Aust. Cent), bei nur 88 Mio. Aktien ist Zimplats damit nur mit 20 Mio. Austr. Dollar bewertet, ein Spottpreis, wenn man es in Relation zu den Reserven sieht. Ich habe kürzlich berechnet, daß zu heutigen Marktpreisen die Reserven/Ressourcen pro Zimplats-Aktie um die 5000 US-Dollar wert sind. (Natürlich muß man noch die Produktionskosten und Zeitwert berücksichtigen). Informiert euch unter www.zimplats.com
      Ich freue mich auf Eure Meinungen!
      Avatar
      schrieb am 02.08.00 18:57:28
      Beitrag Nr. 2 ()
      Noch ist die AKtie spekulativ.
      Wenn die politischen Sachen ausge-
      standen sind,
      dann für alle strong buy.

      Kleine Mengen habe ich mir bei
      diesen Dumpingpreisen schon ge-
      sichert.
      Avatar
      schrieb am 02.08.00 21:43:13
      Beitrag Nr. 3 ()
      Mir fällt gerade auf, daß in meinem alten Posting ein nicht ganz unbedeutender Fehler steckt. Der Reserven/Resourcen-Wert pro Aktie beträgt nicht 5000 US$, sondern ca. 2450 US$. Auf der Zimplats-Internetseite ist eine mißverständliche Angabe.
      Korrigierte Überschlags-Berechnung:
      312.000.000 oz Platin, Palladium, Rhodium x 700$ : 89 Mio. Aktien =~ 2450$/Aktie. Ist aber auch nicht schlecht bei einem Kurs von 0,24 A$.

      gholzbauer
      Avatar
      schrieb am 31.08.00 20:21:26
      Beitrag Nr. 4 ()
      Letzter Aufruf zum Einsteigen in die Rakete.
      Vorsicht hochspekulativ!
      Kurs in Sydney 0,295 A$. WKN 916897.

      Hier der Quartalsbericht Dezember 1999 mit Zahlen zur Ngezi Opencast Mine, darunter eigene Berechnungen. Wo ist übrigens die versprochene Analyse der Goldhotline?
      REPORT FOR THE DECEMBER 1999 QUARTER
      NGEZI-SMC PROJECT
      The Ngezi-SMC (Selous Metallurgical Complex) technical feasibility study has now been finalised and was approved by the board of directors of Zimplats on 21 January 2000.
      The feasibility study envisages mining 2.2 million tonnes of ore per year from the Ngezi opencast mine. The Ngezi opencast ore will be transported by road to the Selous Metallurgical Complex at the Hartley Platinum minesite nearby to the settlement of Selous. The ore will be milled, concentrated and smelted, to produce, as the sale product, 3,400 tonnes per year of smelter matte containing platinum, palladium, rhodium, gold, nickel, copper and cobalt.
      The indicative Ngezi-SMC project timetable for the initial processing of ore by the end of the year is subject to the successful completion of discussions with the Government of Zimbabwe and financing.
      At the end of the quarter the 300,000 tonne trial boxcut excavation was completed at the proposed Ngezi mine site. The results from this trial mining exercise have confirmed the favourable mining characteristics of the Ngezi orebody.
      The key indicative feasibility study outcomes are:
      Resource:120 million tonnes of sulphide resource containing 1.82 g/t Pt, 1.41g/t Pd, 0.15 g/t Rh, 0.27 g/t Au, 0.10% Ni and 0.06% Cu
      Initial 16-year opencast Reserve: 35 million tonnes of sulphide ore containing 1.72 g/t Pt, 1.42 g/t Pd, 0.15 g/t Rh, 0.24 g/t Au, 0.10% Ni and 0.06% Cu.
      Ore mining thickness: 3 metres
      Ore mining rate: 2.2 million tonnes per year
      Waste to ore ratio: 13.4 to 1
      Metal contained in smelter matte per year: 120,000 ounces Pt; 85,000 ounces Pd; 8,000 ounces Rh; 13,000 ounces Au; 1,300 tonnes Ni and 1,000 tonnes Cu.
      Revenue per tonne of ore: US$33.84, based on $377/oz Pt, $358/oz Pd, $900/oz Rh, $280/oz Au, $3.18/lb Ni, $0.75/lb Cu and indicative terms for the sale of smelter matte.
      Cash operating cost per tonne of ore: US$26.77, based on US$10.93/t mining, US$4.16/t haulage, US$11.69/t processing and associated costs to the point of sale, and administration.
      Cash operating margin per tonne:US$7.1
      Cash operating margin per year:US$15.6 million
      Capital cost:US$11.5 million
      Working capital to payback:US$ 5.6 million
      Operating deficit to positive cashflow:US$10.0 million
      Cost to upgrade existing road for ore haulage:US$15.1 million
      Total funds exposed:US$42.2 million
      Payback: 36 months from start of ore haulage from Ngezi to SMC.
      Pre-tax NPV @ 7.5% discount:US$73 million
      Pre-tax IRR:32%
      In the course of the feasibility study Zimplats engaged the services of independent technical advisors to evaluate the operational strengths and weaknesses of the SMC mill and concentrator, the smelter and the base metal refinery, in particular taking account of possible differences in the character of the Ngezi ore from the Hartley Platinum ore previously processed through the SMC.
      Zimplats and its technical advisors have identified a number of design and operational shortcomings in the technically-complex base metal refinery. Zimplats has therefore concluded the feasibility study on the basis that the base metal refinery will not be recommissioned in the near term. The sale product from the Ngezi-SMC project will be metal in smelter matte.
      During the quarter Zimplats, in co-operation with the Ministry of Transport, continued the evaluation of the upgrading of the existing 85 km road connecting the mine and the processing plant. Although this public road is the responsibility of the Ministry of Transport, for feasibility-study purposes the US$15.1 million upgrade cost is incorporated in the project financial model.
      BHP — ZIMPLATS CONDITIONAL SALE AND PURCHASE
      As reported previously, conclusion of Zimplats` acquisition of BHP`s platinum interests is governed by the timing of the resolution of certain matters between BHP and the Government of Zimbabwe. Zimplats is not yet able to forecast when these matters will be resolved, which may impact on the timing of project implementation.
      ZIMPLATS SHARE PRICES AND VOLUMES
      Early in the quarter the share price increased from its September-quarter average of around 50 cents to the upper 60 cent range, for the most part on small trading volumes. During the quarter 5.4 million shares were traded, representing 6% of Zimplats` issued capital. At the end of the quarter Zimplats had 2,907 shareholders.
      SALE OF UNMARKETABLE PARCELS OF SHARES
      During the quarter Zimplats completed the sale of "unmarketable parcels" of shares, representing shareholdings with a value of Aus$500 or less. The number of Zimplats shareholders has reduced from approximately 6,500 to approximately 3,000, substantially reducing Zimplats` cost in maintaining its share register and servicing its shareholders with periodic reports and associated corporate information.
      CHARTEXPENDITURE
      Expenditure for the quarter ended 31 December 1999 was US$1.2 million. Most of this expenditure was in connection with the feasibility study. At the end of December, Zimplats` cash on hand was US$4.1 million. Zimplats has no debt and no liabilities other than normal trade creditors.


      Berechnung Ngezi Opencast Project zu gegenwärtigen Pt-Pd-Rh-Preisen
      Die Durchführbarkeitsstudie von Zimplats geht von wesentlich niedrigeren Preisen aus, deshalb hier eine Neuberechnung. „=US$.
      Alt: 120.000x377$(Pt) + 85.000x358$(Pd) + 8000x900$(Rh) + 13.000x280$(Au) + 1300x6800$(Ni) + 1000x1700$(Cu) = 97.050.000 $. Geteilt durch 2.2 Mio. Tonnen sind das 44 $, Zimplats berechnet aber 33.84$ pro Tonne (“indicative terms for the sale of smelter matte“), also ca. ¾ (33.84/44) des raffinierten Metallwertes.
      Neu: 120.000x560$(Pt) + 85.000x650$(Pd) + 8000x2300$(Rh) + 13.000x285$(Au) + 1300x8000$(Ni) + 1000x1700$(Cu) = 156.655.000 $. Davon ¾ sind 117,5 Mio. $, wobei die Rate aber noch höher sein könnte, denn die Weiterverarbeitungskosten sind wahrscheinlich fix. Das bedeutet 117,5 Mio. $ / 2,2 Mio. Tonnen = 53,4$ pro Tonne.
      Alte cash margin pro Tonne: 33,84$-26,77$=7,07$ (“7.1“)
      Neue cash margin pro Tonne: 53,4$-26,77$=26,63$
      alt pro Jahr: „15.6“
      Neu pro Jahr: 26,63$/Tonne x 2.200.000 Tonnen = 58,6 Mio. $.
      Das heißt, ohne Finanzierungskosten und ohne Steuern kann Zimplats zu gegenwärtigen Preisen 58,6 Mio. US$ (ca. 100 Mio. A$ bei 1,7 A$/US$) Gewinn machen, bei 88 Mio. Aktien entspricht das pro Aktie 1,14 A$, bei einem Kurs von 0,26 A$ wäre das KGV 0,23!!! Zur Erinnerung: Minenleben mind. 16 Jahre. Allerdings müssen in Zimbabwe fällige Steuern berücksichtigt werden und eine Ausgabe von zusätzlichen Aktien oder Hinzuziehung eines finanzkräftigen Partners zur Minenfinanzierung gegen einen Anteil an den Erträgen würden das Ergebnis kräftig ändern. So sollte man vielleicht mit 50% Steuern rechnen (Weiß jemand Genaueres über die Steuersätze in Zimbabwe? Bitte posten!) , wenn ein Partner noch 50 % des Nachsteuergewinns bekäme, würde sich der Gewinn vierteln, das KGV wäre dann ungefähr 1. Allerdings fielen bei einer Finanzierung durch einen Partner keine Finanzierungskosten für Zimplats an.
      Avatar
      schrieb am 31.08.00 21:23:08
      Beitrag Nr. 5 ()
      @Manfred:bin heute nicht so gut drauf,und so erwischt es dich als ersten,ist nicht persöhnlich.

      Dein Analysen sind schon uralt,aber wenn der Markt will geht es nach Norden und sonst nicht.

      So einfach ist Börse,alles andere ist purer Quatsch.Du must den Stier nur früh an den Eiern packen,

      dann rollt dei Kohlein deine Tasche,der Rest ist dummes Zeug warum eine Aktie steigt oder fällt.

      cuDrLupo (nimm es bitte nicht persöhnlich)

      Trading Spotlight

      Anzeige
      Rallye II. – Neuer Anstoß, News und was die Börsencommunity jetzt nicht verpassen will…mehr zur Aktie »
      Avatar
      schrieb am 01.09.00 07:05:28
      Beitrag Nr. 6 ()
      Erstens ist die Analyse nicht von Manfred, sondern von mir.
      zweitens ist sie nach wie vor aktuell.
      drittens ist das kein Pushversuch, sondern ein Hinweis auf eine interessante Investitionsmöglichkeit. Dafür existiert dieses Board.

      gholzbauer
      Avatar
      schrieb am 04.09.00 16:18:12
      Beitrag Nr. 7 ()
      Avatar
      schrieb am 04.09.00 20:56:30
      Beitrag Nr. 8 ()
      Platin, Palladium steigen weiter.
      Ich hoffe , dass Zimplats auch mal
      ein KGV von 10 erreicht.

      Jetziger Kurs 0,29 A.$ bei KGV 0,5 - 0,8
      Avatar
      schrieb am 06.09.00 10:57:36
      Beitrag Nr. 9 ()
      Eine Verzehnfachung des jetzigen Kurses (0,26A$) halte ich bei erfolgreicher Durchführung von Ngezi für möglich, also ein "Nur-Ngezi-KGV" von 3 bis 10.
      Falls Hartley doch noch erfolgreich sein sollte, ist das Potenzial wesentlich größer.
      Avatar
      schrieb am 06.09.00 20:55:55
      Beitrag Nr. 10 ()
      Die sichere Seite bei den Platinwerten
      ist zur Zeit allerdings:
      Aquarius Platinum WKN 925908

      Ferner die Impala WKN 865730
      und die AAP WKN 865254

      Spekulativ: Zimplats
      Avatar
      schrieb am 25.09.00 06:58:06
      Beitrag Nr. 11 ()
      REPORT OF THE JUNE 2000 QUARTER

      NGEZI/SMC PROJECT

      The feasibility study having been completed, work on the details of the project development plan continued during the quarter. The Company is also preparing technical documentation for due diligence investigation by potential financiers.

      Further refinements to the proposed open-pit mining layouts resulted in the reduction of initial waste:ore ratios, thereby enhancing the expected project rate of return and shortening the payback period. Crushing and ore-loading station designs and costings for several alternative layout options have been prepared and are currently under assessment.

      The proposed Ngezi/SMC road route has been modified to shorten the ore haulage distance. The Ministry of Transport has surveyed the amended sections. The road design work is approaching completion, with suitable sources of construction materials having been identified.

      Zimplats has commissioned additional metallurgical testwork to investigate the possibility of improving anticipated processing performance. This work comprises two consecutive phases, the first of which should be completed in September 2000. Negotiations are underway with engineering companies capable of providing support technical assistance in concentrator and smelter re-commissioning and ongoing operations.

      The company has analysed various power supply options for the Ngezi site and has decided that it will proceed with the provision of a 33kV extension from the national grid instead of the 11kV extension promulgated in the feasibility study. This will result in a slight increase in project capital cost but should improve the reliability of supply.

      Completion of negotiations with the potential purchasers of smelter matte, which is the envisaged final product of proposed operations, has been delayed until the project construction commencement date is determined. The matte purchaser will need to dedicate refinery capacity to the Zimplats product and therefore will require specific timings and delivery schedules.

      Set out below is a comparison of metal prices that have been incorporated into the previously reported feasibility study for the Ngezi/SMC project, and the prices prevailing at 30 June 2000:

      Feasibility Study Prices 30 June 2000 Prices
      Pt US$377/ounce US$558/ounce
      Pd US$358/ounce US$638/ounce
      Au US$280/ounce US$288/ounce
      Rd US$901/ounce US$2,300/ounce
      Ni US$6,850/tonne US$8,245/tonne
      Cu US$1,650/tonne US$1,772/tonne


      PROJECT FINANCE

      The delay in implementing the new fiscal regulations for the mining industry, occasioned by the elections, has delayed Zimplats in raising the development capital for the Ngezi/SMC Project.

      Pending the implementation of the new legislation, discussions will continue with potential investors and industry partners who have expressed interest in participating in the potential of the platinum resources of Zimplats on the Hartley Geological Complex.

      Any expressions of interest and proposals from these potential investors, will be evaluated by Zimplats so that when the new fiscal regulations for the mining industry are implemented, the company will be able to raise the development capital as quickly as possible.



      POLITICAL ENVIRONMENT

      The Zimbabwe parliamentary elections were conducted on the 24th and 25th of June in a peaceful manner. The violence that accompanied the electioneering period prior to the election did not occur during the election. The period post the election has also been relatively quiet, although farm occupations have continued in areas where the main opposition party is to challenge the election results through the courts.

      There is some evidence that the Government is now going to address the illegal occupation of farms and proceed with a more transparent and acceptable form of land re-distribution.

      The President has appointed to the Cabinet several new Ministers who have held senior appointments in the private sector both in Zimbabwe and internationally. It is believed that the new Ministers and the reduced number of deputy Ministers is the prelude to Government addressing the poor state of the economy and the introduction of measures to improve it.

      In the PresidentÕs address at the opening of the new parliament he referred to the trade agreement with South Africa and ten bilateral projects that will broaden the industrial base and improve infrastructure. The President stated - "These projects will improve the road and rail transportation systems, open up new mining ventures, and facilities for tourism."

      Zimplats believes that the last remaining hurdle prior to raising the development capital for the Ngezi/SMC Project, implementation of the new fiscal regulations for the mining industry, will now be pursued as a matter of urgency by the Government. Zimplats is participating in an initiative by the senior mining companies in Zimbabwe to meet with the new Government to expedite the legislation.

      The current political environment is far more conducive to the development of mining projects than that which prevailed during the period leading up to the elections. The existence of a sizeable and capable opposition is expected to result in a strong focus on the issues that have negatively affected the Zimbabwe economy.



      RELATIONSHIP WITH GOVERNMENT

      A welcome development in the new Cabinet is the establishment of a separate Ministry of Mines and Energy, instead of the previous combination of Mines with Tourism and Environment. Under the previously combined Ministry, the portfolios of Mining and Tourism were very demanding on a single Minister. Agriculture, mining and tourism are the main earners of foreign currency and account for the majority of ZimbabweÕs exports.

      Zimplats has always enjoyed a good relationship with the Minister and Ministry responsible for mining. The company will continue to develop this relationship, in order to promote this sector of the Zimbabwe economy that has the potential to become the main export-earner in the country.


      ZIMPLATS SHARE PRICES AND VOLUMES

      4.9 million Zimplats shares were traded during the quarter representing 5.5% of the issued share capital of the company. The share price declined during the quarter and it is assumed that this decline resulted from the widely reported political tensions in Zimbabwe during the run-up to the parliamentary elections held on the 24th and 25th June 2000.


      MANAGEMENT AND BOARD APPOINTMENTS

      Mr. Roy Pitchford took up his appointment as Managing Director on the 1 May 2000. He will be resident in Zimbabwe and brings to Zimplats a wealth of very valuable commercial and mining experience, including specific experience of platinum exploration and mining on the Great Dyke at the Hartley Platinum Mine and on ZimplatsÕ Ngezi, Mhondoro and Selous projects, formerly owned by Delta Gold Limited.


      EXPENDITURE

      Expenditure for the quarter ended 30th June 2000 was US$1.16 million mostly incurred on work with the development planning associated with the Ngezi/SMC Project.

      At the end of June 2000, ZimplatsÕ cash on hand was US$1.04 million.

      Zimplats is in the process of finalising arrangements for a financing facility to ensure that all non-project related costs are capable of being met for the ensuing twelve-month period.



      INFORMATION ON ZIMPLATS

      Pauline Tuke
      Level 16, 99 Walker Street,
      North Sydney NSW 2060
      PO Box 898, North Sydney NSW 2059
      Tel: (61 2) 9922 1122
      Fax: (61 2) 9922 7882
      E-mail: pauline.tuke@zimplats.com
      click here to email: Pauline Tuke
      Avatar
      schrieb am 26.09.00 03:01:16
      Beitrag Nr. 12 ()
      Oops, 119602 Stück Umsatz bis jetzt. Ungewöhnlich. Das ist mehr, als ich habe ;).
      Avatar
      schrieb am 29.09.00 19:48:22
      Beitrag Nr. 13 ()
      Analyse zu Idaho Consolidated, einer kanad. PGM-Explorationsgesellschaft.
      Interessante Betrachtungen zum PGM-Markt.
      http://www.montanaplatinum.com./pdf/IDO%20report%2029feb00.P…
      Avatar
      schrieb am 03.10.00 15:29:53
      Beitrag Nr. 14 ()
      ZIM 0,345 A$, +0,045A$ = +15% bei guten Umsätzen (für diesen Wert).
      Trotz Seitwärts/Rückwärtsbewegung der PGM-Preise!
      Avatar
      schrieb am 04.10.00 03:38:31
      Beitrag Nr. 15 ()
      ZIM Tageshoch bisher bei 0,43A$.
      Avatar
      schrieb am 05.10.00 01:54:01
      Beitrag Nr. 16 ()
      Und weiter geht`s: Tageshoch bisher 0,50 A$.

      Told you so,
      gholzbauer
      Avatar
      schrieb am 07.10.00 20:47:41
      Beitrag Nr. 17 ()
      0,44A$, kleine Pause war fällig nach diesem Anstieg.
      Ist hier in diesem Board überhaupt jemand in Zimplats investiert oder daran interessiert? Ich bitte um Feedback.
      Avatar
      schrieb am 09.10.00 15:36:26
      Beitrag Nr. 18 ()
      Gefunden bei stockhouse.com.au

      Zimplats, Anglo May Set Up Platinum Joint Venture (Update1)
      By Dudley White


      Melbourne, Aug. 14 (Bloomberg) -- Zimbabwe Platinum Mines Ltd., an Australian mining company operating in Zimbabwe, said it may allow Anglo American Plc to process platinum ore at its Hartley smelter, Zimbabwe`s only platinum plant.

      Anglo, the world`s biggest mining company, could process as much as 100,000 metric tons of ore a year at Hartley from its yet- to-be-developed Unki mine if the venture goes ahead, Zimplats` Chief Executive Roy Pitchford said in an interview.

      Zimplats bought the unprofitable Hartley mine and other assets last year from Australia`s Broken Hill Proprietary Co. for as much as $3 million. The company`s stock has slumped more than 58 percent this year as political turmoil in Zimbabwe deterred investors.

      ``Anglo may be interested in doing something with us using the surface infrastructure at Hartley,`` Pitchford said.

      While Zimbabwe has the world`s second-biggest platinum reserves after South Africa, mining companies have been discouraged from investing because of Zimbabwe`s deteriorating political and economic situation.

      Fuel has been short since December, inflation is near a record and more than 30 people were killed in the run-up to June`s parliamentary elections. Concern over property rights has also grown with the seizure of commercial farms by the government and a statement, since denied, that foreign-owned mines would be nationalized.

      Zimplats shares fell 20 percent during the two months before the vote, and while Pitchford said the company is receiving more interest from investors, he added it may take several months before confidence in the country is restored. Zimplats shares rose 2 cents to 29 cents today.

      Potential Investors

      ``We`ve had a number of potential investors who have shown an interest,`` he said. Still, the country is currently ``not conducive to raising more investment at the moment.``

      Analysts have said Zimbabwe`s economy will likely deteriorate in coming months as businesses are closing and the farm seizures will likely necessitate the import of food that the country can`t afford to pay for.

      Zimplats holds the rights to several of Zimbabwe`s known platinum deposits and plans to develop its own mine on the Ngezi deposit, which, Pitchford said, has ore reserves of some 40 million metric tons.

      Analysts have speculated than Anglo could offer to buy all of Zimplats. The company is already in talks to buy closely held Zimasco Ltd., which operates Zimbabwe`s only platinum mine.

      Anglo`s Zimbabwe unit, Anglo American Corp. Zimbabwe Ltd., was not immediately available for comment.
      Avatar
      schrieb am 14.10.00 07:58:59
      Beitrag Nr. 19 ()
      Aquarius Platinum Heading for the Stars


      With global platinum prices just having pulled back from all-time highs, Australia`s only real exposure to the metal`s fate, Aquarius Platinum [X.AQP], is firing on all cylinders.

      The platinum price took off in September 1999 after an April 1998 instigated downtrend was finally quashed.

      The precious commodity used in jewellery, electronic and chemical applications was trading at US$590 per troy ounce at the time of writing.

      Platinum`s value had previously breached the significant US$600 barrier back in August 2000, extending above US$610 for a short time in September before mildly pulling back.

      All computer hard drives utilize the metal due to its memory enhancement properties, whilst specialty silicons need platinum in their chemical production processes.

      Platinum based auto-catalysts are also making a comeback as countries enforce much tougher environmental standards on vehicle emissions. Palladium was previously the preferred input, but that metal`s high pricing of US$736 per troy ounce (at the time of writing) is forcing it out of the market.

      Platinum is additionally the preferred medium for lean-burn and diesel engines.

      Jewellery accounted for around 51% of the 5.6 million ounce1999 demand, with industrial applications responsible for around 24%.

      Demand in China in particular is progressing in leaps and bounds - up 53% to 950,000 ounces during 1999.

      India additionally is a massive future platinum customer - the country being the world`s largest consumer of gold, accounting for 800 tons in 1999.

      Platinum is a market-driven, not resource-driven commodity. With ever growing demand forecast, the future can only look better short, medium and long-term.

      "Platinum is the right metal to be in", said Aquarius Executive Director, Ed Nealon. "You have to understand that platinum is not kept in bank vaults around the world - there`s a total industrial usage for everything that`s produced."

      "And the market is currently growing ahead", he continued. "The supply just isn`t there to cope with demand - and it`s growing from 5% to 7% a year. Right now the market is under-supplied, and it`s a good metal to be in."

      Hitting all-time highs of A$8.50 only a week or so ago, Perth based Aquarius has pulled back only minimally and was trading around $8.10 as of this correspondence`s publication.

      The producer`s South Everest resource has recently been upgraded to 5.48 million ounces - up by over a million - with forecasts that by 2003 Aquarius will be supplying 500,000 ounces per annum from the three separate South African mines of South Everest, Kroondal and Marikana.

      Following the July announcement of Aquarius` 44% takeover of South African platinum play Kroondal Platinum Mines (KPM), the company has additionally joined a platinum joint venture (JV) involving the operations of Aquarius, KPM and the Anglo American Platinum (Amplats) [ANGLY] subsidiary Rustenburg Platinum Mines.

      Aquarius had also formerly acquired three projects belonging to South Africa`s Impala Platinum Holdings (Implats) - Everest South, Everest North and Chieftain`s Plain.

      Expected to fully commence operations on July 1st 2001, Aquarius` South African venture will eventually be listed on the Johannesburg Stock Exchange (JSE), pending required due diligence and regulatory approvals.

      With a modicum of global trepidation concerning South Africa`s political and social climate steadily declining apparent, Mr Nealon feels the notion is somewhat overdone.

      "The place is actually a very well run economy - it`s a democracy, and we don`t see much that effects us at all in terms of political turmoil," he stated.

      "There`s a huge lack of understanding. Sure the media will cook things up, particularly considering the history of South Africa," he explained.

      The consolidated Group`s maiden operating profit after tax and including abnormals on partial year operations amounted to US$3.8 million in June.

      In September Aquarius announced 9,766,000 unlisted options had been exercised at prices ranging between 44c and A$1.00 - a considerable discount to the company`s current share price.

      Following the placements, Aquarius had 58,027,235 fully paid shares on issue. Historical EPS were 18.78c on a PE of around 43 times. The company`s trading volatility beta was 81% of the market average.
      Avatar
      schrieb am 19.10.00 03:50:34
      Beitrag Nr. 20 ()
      Ist ja toll, 0,34A$. Wieder mal zu früh gefreut über den Anstieg.
      :(
      Avatar
      schrieb am 19.10.00 12:31:09
      Beitrag Nr. 21 ()
      Industry Overview
      Mining in Zimbabwe has suffered severely over the last two years. Causal factors are global weakness in commodity and metals prices, the very high domestic cost of borrowing, and since the beginning of the year the acute fuel and hard currency shortages. Though Zimbabwe produced 9 million ounces if gold in 1999, the latter two shortages may cause a drastic reduction from last year’s output, which will further exacerbate the hard currency shortage. A break in the downward spiral must be engineered. Fuel and spare parts shortages have already resulted in a relatively small number of mine closings, though the Chamber of Mines warns that this may very soon become a landslide. A major blow occurred in June 1999, when BHP announced the closure of its Hartley platinum mine, Zimbabwe`s largest post-independence private, overseas investment project. BHP blamed the closure on weak world prices and structural and engineering problems in the mine that prohibited profitable extraction. The closure resulted in the loss of 3,500 full-time jobs. Nevertheless, a few in the industry see the current times as an opportunity to position themselves for the cyclic rebound that may occur. Assets are cheap, they tell us, and when prices strengthen, good profits are to be had. However, an uncertain outlook for conditions in Zimbabwe make it a play for those not faint of heart.

      Source: US Department of State FY2001 Country Commercial Guide
      Avatar
      schrieb am 20.10.00 08:25:42
      Beitrag Nr. 22 ()
      5 October 2000

      ZIMPLATS RESPONSE TO ASX ENQUIRY

      Ms Caitlin Chau
      Companies Advisor Australian Stock Exchange Limited
      PO Box H224
      Australia Square
      NSW 1215
      Fax: 9241 7620

      Dear Ms Chau,

      Re: Zimbabwe Platinum Mines Limited (Zimplats)

      We refer to your letter of 5 October 2000 in relation to change in the price of the Company`s securities from $0.29 on 2 October 2000 to $0.49 today and respond to your questions as follows:

      Q1 Is the Company aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company?
      A1 Zimplats is not aware of any reason for this price increase other than on-going discussions, in the normal course of business, are taking place to secure debt and equity funding for the Ngezi/SMC project and in addition discussions continue with potential technical partners in the project.

      --------------------------------------------------------------------------------

      Q2 If the answer to question 1 is yes, can an announcement be made immediately? If not, why not and when is it expected than an announcement will be made.
      A2 Not applicable.

      --------------------------------------------------------------------------------

      Q3 Is there any other explanation that the Company may have for the price change and increase in volume in the securities of the Company?
      A3 Zimplats does not have any other explanation other than there could be possible speculation by some investors as to the final outcome of these ongoing negotiations in the normal course of business.


      --------------------------------------------------------------------------------

      Q4 Please confirm that the Company is in compliance with the listing rules and, in particular, listing rule 3.1
      A4 Yes, the Company believes it is in compliance with the listing rules.

      This letter was dictated by R.A. Pitchford, Chief Executive Officer, Zimbabwe Platinum Mines Limited.

      Yours sincerely
      Pauline Tuke Office Manager Gold N.L.
      Avatar
      schrieb am 24.10.00 08:41:22
      Beitrag Nr. 23 ()
      Tuesday 24 October 2:27 AM



      Zimplats says mining regime key to Zimbabwe mine
      HARARE, Oct 23 (Reuters) - Zimbabwe Platinum Mines Ltd (Zimplats) said on Monday that a new fiscal regime for the mining industry was among four key requirements for the company to proceed with a promising platinum mining project.
      Zimplats said it was still talking with President Robert Mugabe`s government on the legislation, which was expected to be in place after Zimbabwe`s parliamentary elections held in June.

      "High level discussions have taken place within government and Zimplats has been advised that it will soon be notified of the government`s decision," the company said in its report for the quarter ended June 30.

      Zimplats is 51-percent owned by Australia`s Delta Gold . The company acquired the Zimbabwean platinum operations of Australia`s BHP Ltd in 1999 after BHP closed its troubled Hartley Platinum Mine in Zimbabwe.

      Zimplats` proposed Ngezi/SMC project is forecast to produce 102,000 ounces of platinum and 85,000 ounces of palladium annually.

      Among other hurdles for the project, Zimplats said the government had not yet released BHP from a performance guarantee given in respect of the Hartley mine.

      Scrapping the guarantee would allow Zimplats to take control of BHP`s platinum interests in Zimbabwe before the February 2001 deadline set out in the sale agreement.

      The Hartley mine has been on care and maintenance since May 1999.

      Another key factor is securing political risk insurance to meet financiers` requirements. "Some progress has been made and it is believed this insurance will be available soon," the company said.

      Fourthly, the company said potential investors had recently completed a due diligence of the company and the Ngezi/SMC project. But financing would be raised only after the first three issues were resolved.

      (c) Reuters Limited 2000

      REUTER NEWS SERVICE
      Avatar
      schrieb am 27.10.00 13:35:04
      Beitrag Nr. 24 ()
      0,42A$ (+0,07A$).
      Avatar
      schrieb am 16.11.00 13:23:29
      Beitrag Nr. 25 ()
      0,47A$.
      Avatar
      schrieb am 16.11.00 19:12:23
      Beitrag Nr. 26 ()
      Meine Empfehlung im Gold-Board seit
      Längerem.

      Nebenbei unbedingt in Mineral Deposits
      einsteigen.
      Da bahnt sich was an.
      Avatar
      schrieb am 21.11.00 17:48:54
      Beitrag Nr. 27 ()
      Wednesday November 15, 7:36 am Eastern Time
      Anglo Platinum sees strong market
      JOHANNESBURG, Nov 15 (Reuters) - Anglo Platinum (Angloplat), the world`s largest platinum producer, on Wednesday forecast sustained robust demand for platinum group metals (PGMs) and said surging prices were justified by market fundamentals.

      Chief Executive Barry Davison said strong jewellery demand particularly from China, auto-catalyst use and tight Russian platinum stocks would continue to support prices, which hit a 12-year high of $612/oz in August.

      ``Prices in real terms are lower than a dozen years ago. In terms of the history it`s not excessive...it`s not serious at all,`` Davison told the World Platinum Congress.

      Platinum on the spot market was quoted at $588-598, a level which some analysts say could dent demand for the metal, as has happened in the Japanese luxury goods market.

      ``There is the possibility of a spike in the platinum price to $600 an ounce, but the market would quickly give up the gains,`` Davison said.

      Platinum was fixed in London at $592, up from its previous fix of $591. Palladium was fixed $1 higher at $780, versus a record high of $855 reached in August.

      Angloplat shares were trading 1.4 percent higher at a year-high of 331.60 rand on the Johannesburg bourse.

      Impala Platinum , the world`s second largest platinum producer, was up 0.84 percent at a year high of 383 rand as both firms led a rally in resources firms which have benefited from higher commodity prices and a weaker rand.

      Global demand for platinum and palladium is expected to again exceed supply this year, maintaining prices near recent highs despite a 11 percent increase in platinum supplies to 5.41 million ounces led by higher Russian exports, according to industry analysts Johnson Matthey.

      South African platinum supplies are forecast to reach 3.92 million ounces this year, up 20,000 from 1999, while palladium supplies are pegged at 1.96 million ounces from 1.87 million.

      Matthey in its interim review of the PGMs market released on Tuesday forecast platinum demand rising two percent this year to a record 5.69 million ounces, meaning prices for the metal would remain in a range of $560-630 over the next six months.

      The auto industry is expected to increase its purchases of platinum for the first time in four years in 2000 in order to meet stricter emission limits for diesel cars in Europe.

      ANGLOPLAT TO LIFT OUTPUT

      Davison, whose company supplies 43 percent of the world`s platinum, said Angloplat`s own output of PGMs in 2001 would be well up on this year, but he declined to give an estimate.

      Angloplat is forecast by analysts to produce around 1.9 million ounces of platinum this year, 100,000 down on last year as a result of heavy flooding and a miners strike. The firm also produces around one million ounces of palladium.

      Angloplat was on course to meet its target of lifting platinum output to 3.5 million ounces within the next five-and-a-half years, Davison said.

      The company is near to completing mine projects at Amandelbult, Middlepunt Hill and Bafokeng-Rasimone and began a new project at Maandagshock earlier this year.

      Davison said China would play a key role in platinum demand after emerging as a third of the PGM jewellery market.

      ``China will overtake Japan, which is contracting, either this year or next,`` Davison said.

      Matthey forecasts Japanese platinum demand falling to 1.51 million ounces this year from 1.83 million in 1999, led by a decline in jewellery use.

      The PGM market would also be supported by limited Russian stockpiles of platinum. ``As far as platinum is concerned there is not much left,`` Davison said.
      Avatar
      schrieb am 30.11.00 00:36:59
      Beitrag Nr. 28 ()
      0,54 A$ bei 102.000 Stück Umsatz ist schon mal ein guter Start heute.
      Avatar
      schrieb am 01.12.00 01:54:00
      Beitrag Nr. 29 ()
      0,58 A$.
      Avatar
      schrieb am 01.12.00 07:31:39
      Beitrag Nr. 30 ()
      30.11. war Hauptversammlung (AGM).
      Unten stehender Text ist zu finden auf www.zimplats.com .


      30 November 2000

      CHAIRMAN`S ADDRESS

      ZIMBABWE HAS RECEIVED CONSIDERABLE ADVERSE NEWS COVERAGE OVER THE LAST NINE MONTHS. THERE IS NO QUESTION THAT THE COUNTRY IS GOING THROUGH A CHALLENGING TIME, BOTH POLITICALLY AND ECONOMICALLY. HOWEVER, I AM PLEASED TO REPORT THAT OUR ACTIVITIES ON THE GROUND HAVE NOT BEEN MATERIALLY AFFECTED AND YOUR BOARD HAS NOT IDENTIFIED ANY ISSUES THAT ARE LIKELY TO NEGATIVELY AFFECT ZIMPLATS` OPERATIONS.

      THE GOVERNMENT OF ZIMBABWE CONTINUES TO SUPPORT THE NGEZI/SMC PROJECT. ALL GOVERNMENT CONSENTS REQUIRED TO BUILD THE NGEZI OPENCAST MINE, THE NEW ROAD BETWEEN NGEZI AND SELOUS, AND THE OPERATION OF THE ROAD-TRAINS HAVE BEEN RECEIVED.

      DISCUSSIONS WITH GOVERNMENT FOR THE RELEASE OF BHP FROM ITS PERFORMANCE GUARANTEE IN RESPECT OF THE HARTLEY PLATINUM MINE TO FACILITATE THE TRANSFER OF THE BHP ASSETS EARLIER THAN FEBRUARY 2001 HAVE REACHED AN ADVANCED STATE. FINALISATION OF THESE DISCUSSIONS IS EXPECTED SOON.

      THE RECENTLY ANNOUNCED ZIMBABWE BUDGET CONTAINS SOME OF THE PROVISIONS THAT FORM PART OF THE NEW FISCAL LEGISLATION BEING PROPOSED FOR THE MINING INDUSTRY. THIS PROPOSED LEGISLATION HAS BEEN REVIEWED BY ZIMPLATS AND APPEARS TO BE AN ACCEPTABLE REPLACEMENT TO THE SPECIAL FISCAL REGIME THAT CURRENTLY APPLIES TO THE HARTLEY PLATINUM MINE. IT IS EXPECTED THAT THE NEW FISCAL LEGISLATION WILL BE IMPLEMENTED EARLY IN THE NEW YEAR. THE MINISTRY OF MINES HOWEVER, HAS STATED THAT SHOULD THE NEW LEGISLATION BE DELAYED, ZIMPLATS WILL BE ABLE TO COMMENCE THE NGEZI/SMC PROJECT UNDER THE EXISTING HARTLEY PLATINUM MINE LEGISLATION WITH PROVISION FOR THE INCORPORATION OF THE NGEZI OPENCAST MINE.

      SIGNIFICANT ACCOMPLISHMENTS DURING THE YEAR INCLUDE THE FINALISATION OF THE NGEZI/SMC FEASIBILITY STUDY. THE STUDY HAS BEEN REVIEWED BY INDEPENDENT CONSULTANTS WHO REACHED POSITIVE CONCLUSIONS.

      ALSO COMPLETED IS THE DEVELOPMENT PLAN FOR THE NGEZI/SMC PROJECT. THE TOTAL COST OF THE PROJECT NOW STANDS AT US$47 MILLION. MORE DETAILS ON THE PROJECT WILL BE PROVIDED IN A PRESENTATION AT THE END OF THE AGM.

      DELTA GOLD HAS AGREED TO MAKE AVAILABLE TO ZIMPLATS UP TO US$3 MILLION, ON COMMERCIAL TERMS, THROUGH A BRIDGING LOAN FACILITY UNTIL THE END OF THE CURRENT FINANCIAL YEAR. INCLUDED IN THE AGREEMENT IS A PROVISION TO REMOVE THE DELTA STANDSTILL ARRANGEMENT ON ITS 51% EQUITY HOLDING IN ZIMPLATS.

      ON PROJECT FUNDING, EXPRESSIONS OF INTEREST AND INITIAL PROPOSALS HAVE BEEN RECEIVED FROM A NUMBER OF SOURCES, INCLUDING:

      MINING COMPANIES
      DEVELOPMENTAL AGENCIES
      VENTURE CAPITAL FUNDS; AND
      EMERGING MARKET FUNDS.

      THESE PROPOSALS ARE BEING THOROUGHLY EVALUATED TO ENSURE THE MOST APPROPRIATE SOURCE OF FUNDING IS PUT IN PLACE AS SOON AS THE BHP GUARANTEE IS RELEASED AND THE NEW MINING LEGISLATION IS IN PLACE.

      WHILST THE AFOREGOING MAY BE REASSURING THAT PROGRESS IS BEING MADE WITH THE PROJECT AND ITS FUNDING, THE MAJOR QUESTION IN MANY PEOPLES MIND IS "CAN THIS PROJECT SUCCEED IN ZIMBABWE TODAY?"

      THE BOARD OF ZIMPLATS BELIEVES THAT THIS PROJECT WILL SUCCEED. THE GOVERNMENT SUPPORT EXPRESSED AND DEMONSTRATED, THE GROWING DEMAND FOR PGMs, AND THE INCREASING INTEREST IN ZIMPLATS BEING EXPRESSED BY MINING COMPANIES, PLATINUM PRODUCERS AND NON-PRODUCERS ALIKE, INDICATE A GOOD FUTURE FOR THE COMPANY.

      IN ADDITION, THIS IS NOT A TYPICAL "GREENFIELD" PROJECT. A SHALLOW DEPTH, OPENCUT MINING OPERATION, COUPLED WITH AN EXISTING AND SUBSTANTIAL PLANT INFRASTRUCTURE, MEAN THAT THE RISKS ASSOCIATED WITH THIS PROJECT ARE FAR LOWER THAN MOST NEW MINING PROJECTS.

      THE STRONG INTEREST BEING EXPRESSED BY VARIOUS MINING COMPANIES AND THE INCREASING DEMAND FOR PGMs PROVIDES THE MAIN SOURCE OF CONFIDENCE FOR THE FUTURE OF ZIMPLATS.

      RECENT PUBLICATIONS BY COMMENTATORS AND ANALYSTS ON THE FUTURE OF PGMs IS MOST ENCOURAGING. THE DRIVE TO CLEAN UP THE EMISSIONS FROM VEHICLES AND FACTORIES IS RESULTING IN INCREASED DEMAND FOR PGMs IN CATALYTIC CONVERTORS.

      THE NEW ERA OF THE FUEL CELL TO POWER VEHICLES, HOMES, COMMERCIAL BUILDINGS, AND FACTORIES WILL CREATE ADDITIONAL, LONG TERM DEMAND FOR PLATINUM.

      THE PLATINUM GUILD INTERNATIONAL HAS SUCCESSFULLY INCREASED THE DEMAND FOR PLATINUM JEWELLERY IN CHINA WHERE CONSUMPTION HAS INCREASED FROM 15 000 OUNCES PER ANNUM TO A MILLION OUNCES. THE GUILD IS NOW ESTABLISHING ITSELF IN INDIA WITH A VIEW TO INCREASING THE DEMAND FOR PLATINUM JEWELLERY IN A COUNTRY RENOWNED FOR ITS GOLD JEWELLERY. A 2% MARKET SHARE OF PRECIOUS METAL JEWELLERY WOULD REQUIRE 15 TONNES OF PLATINUM PER ANNUM, EQUIVALENT TO APPROXIMATELY EIGHT PERCENT OF CURRENT WORLD PRODUCTION.

      THE DEMAND FOR PGMs AND THE FOREIGN CURRENCY NEEDS OF ZIMBABWE COMBINE TO PRESENT ZIMPLATS WITH AN EXCITING FUTURE.

      DURING THE PAST YEAR THERE HAVE BEEN A NUMBER OF CHANGES TO THE BOARD OF THE COMPANY. JIM AINSWORTH RETIRED AS A NON-EXECUTIVE DIRECTOR, AND PETER VANDERSPUY STEPPED DOWN AS THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER, TAKING UP A NON-EXECUTIVE DIRECTOR POSITION. I THANK THEM BOTH FOR THEIR CONTRIBUTION TO THE COMPANY AND LOOK FORWARD TO CONTINUING TO WORK WITH PETER VANDERSPUY AS A NON-EXECUTIVE DIRECTOR.

      NEW APPOINTMENTS INCLUDE MYSELF AS A NON-EXECUTIVE DIRECTOR, STEVE GEMELL AS TECHNICAL DIRECTOR IN AN EXECUTIVE ROLE, AND ROY PITCHFORD AS MANAGING DIRECTOR.

      THE BOARD OF ZIMPLATS RECOGNISES AND THANKS MANAGEMENT AND STAFF FOR THEIR EFFORTS DURING THE YEAR.

      AT THE END OF THE AGM, ROY PITCHFORD IS GOING TO MAKE A PRESENTATION ON THE COMPANY AND THE NGEZI/SMC PROJECT.

      IN CONCLUSION . . . . .

      THANKS ETC

      (Back to Reports)
      Avatar
      schrieb am 04.12.00 13:57:00
      Beitrag Nr. 31 ()
      Die Leitung von Südafrika nach Australien scheint ziemlich lang zu sein. Folgendes fand ich heute bei Stockhouse Australia (www.stockhouse.com.au)


      Mining News
      Mon, 04 Dec 2000, 11:51pm EST
      Zimplats May Spend $200 Mln Opening 3 Mines, Restarting Another
      By Antony Sguazzin


      Johannesburg, Nov. 15 (Bloomberg) -- Zimbabwe Platinum Mines Ltd. said it may spend about $200 million digging three new mines and reopening another in Zimbabwe during the next nine to 15 years to produce about 300,000 ounces of platinum.

      Sydney-based Zimplats soon expects to start the 12-month development of the open cast Ngezi mine. Within three years of Ngezi`s opening it could partially reopen the idled Hartley mine and dig a smaller mine at Darwendale to double the company`s output. After that Zimbabwe Platinum may build an underground mine adjacent to Ngezi.

      Still, before the company gives the go ahead it must get Zimbabwe`s government to agree to it acquiring Hartley, an unprofitable operation opened by Broken Hill Proprietary co., and win concessions to mining laws that could curb its profits. The government has said it`s likely to agree to both, said Zimplats` chief executive.

      ``There are two issues`` that need to be resolved, said Zimplats` chief executive, Roy Pitchford, at a platinum conference in South Africa`s biggest city. ``That is the release of the BHP guarantee that will allow us to take over the BHP assets and we need new legislation.``

      Should the company go ahead with its plans it could diversify the supply of scarce platinum group metals, used in jewelry and vehicle anti-pollution devices, away from the two main suppliers, Russia and South Africa, and accelerate the development of the second-biggest platinum ore body.

      It will also be the biggest foreign investment in Zimbabwe since the $550 million investment in Hartley in 1996.

      Zimplats expects to come to an agreement with Zimbabwe`s government before the end of January that will result in it buying the idled Hartley Platinum mine and processing plant from Broken Hill Proprietary Co. for a nominal $1. The government intends to cut taxes and equipment imports and will give Zimplats ``preferential treatment`` until it passes new laws.

      Zimplats, of which 51 percent is owned by Delta Gold Ltd., rose 2 cents, or 4.8 percent, to 44 Australian cents.
      Avatar
      schrieb am 05.12.00 07:37:45
      Beitrag Nr. 32 ()
      Ja, is denn scho Weihnachten? 0,65 A$. Tageshoch 0,75 A$.
      Das war jedoch ein bißchen zu viel des Guten in so kurzer Zeit. Vielleicht wird es erstmal eine weitere Konsolidierung geben.
      Avatar
      schrieb am 06.12.00 11:36:12
      Beitrag Nr. 33 ()
      Quelle:
      http://www.smh.com.au/news/0012/05/text/business7.html


      [SMH Home | Text-only index]

      Miners up as talk of takeovers lift golds
      Date: 05/12/2000



      By Jan Eakin

      Miners were the winners in a sluggish sharemarket yesterday, with gold stocks proving particularly attractive despite an overnight fall in the precious metal`s price.

      Takeover speculation was the main driver following news that the Australian arm of North American giant Homestake Gold had taken a 7.5 per cent stake in Tanami Gold, which ended up 1c at 14c.

      But Delta Gold was the star performer, gaining 10c to $1.28 as rumours swept the market that Swiss financier Mr Hans Rudolph Moser had been busy building up his stake in anticipation of a bid from one of the industry`s predators.

      US giant Placer Dome, Delta`s partner at the Granny Smith gold mine in WA, has been singled out as the likely bidder.

      Overseas players Amplats and Lonrho are also rumoured to be conducting due diligence on Delta`s 50 per cent stake in platinum miner Zimplats.

      Broker Bell Securities has been the biggest net buyer recently.

      A downturn in the US dollar was also proving beneficial, with many in the Asian market expected to start buying the commodity as their currency strengthens. Lihir Gold, highly leveraged to the US dollar, was bumped up 3c to 63c as a result.
      ....
      Avatar
      schrieb am 14.12.00 19:54:52
      Beitrag Nr. 34 ()
      THURSDAY DECEMBER 14 2000

      IMF `deeply concerned` for Zimbabwe

      The IMF said today that it had "deep concerns" about economic and social conditions in Zimbabwe and called for urgent measures to prevent the economic crisis worsening.

      The economy was being harmed by the Government`s policy of re-settling white-owned farms with black farmers and veterans of the country`s struggle for majority rule, it said.

      The IMF found that attempts by authorities to restore macroeconomic stability in 1998 and 1999 foundered on expenditure overruns on wages and defence costs.

      The situation, aggravated by political tensions, has worsened this year, with the economy expected to contract by 5.5 per cent after negative growth of 0.2 per cent in 1999.

      The IMF expressed "considerable concern about the impact on Zimbabwe`s economy of the Government`s policy on land reform", notably an erosion in support from foreign creditors.



      Copyright 2000 Times Newspapers Ltd. This service is provided on Times Newspapers` standard terms and conditions. To inquire about a licence to reproduce material from The Times, visit the Syndication website.
      Avatar
      schrieb am 15.12.00 19:59:14
      Beitrag Nr. 35 ()
      Zimbabwe’s crisis crashes economy

      Mugabe keeps grip on power as country calls for change

      ANALYSIS
      By Mariam Isa
      REUTERS
      HARARE, Zimbabwe, Dec. 15 — Zimbabwean taxi driver Emmanuel Moyo gets up before the crack of dawn every day to queue for fuel when petrol stations open six hours later. Like many other of the country’s 12 million people, he is tired of waiting for petrol, watching prices soar and seeing demand for his business fall as an economic crisis exacerbated by President Robert Mugabe’s controversial policies deepens.

      NORMALLY, MOYO would back the governing ZANU-PF party, but he says now its clearly time for a change and he will vote for the opposition Movement for Democratic Change (MDC) at the next presidential election in April 2002.
      “It’s obvious who is responsible — the top levels of government — I think most people know this,” said Moyo, 35.
      But with ZANU-PF adamant that Mugabe will stay in power, things can only get worse in 2001, economists say.
      “I think economic pressure will become very intense in the course of the next year, but it probably won’t be enough to force Mugabe out of office before the election,” said University of Zimbabwe business studies professor Tony Hawkins.

      ZIMBABWE SCROUNGES TO IMPORT PETROL
      Zimbabwe, shunned by western donors, has to scrounge to find the estimated $40 million it needs every month to import petrol.
      Government coffers have been drained by Mugabe’s costly military support for Democratic Republic of Congo President Laurent Kabila, and debt service costs of Z$180 million ($3.2 million) a day. Official figures predict it will double to Z$384 million next year.
      Businesses and factories are closing or scaling down their operations as demand falls and a foreign currency shortage makes it impossible to import vital inputs. Disposable income is believed to have fallen by 70 percent in the past year and the jobless rate, estimated at close to 60 percent, is climbing.


      We are getting reports from our members that they cannot sustain their operations as a result of the economic climate and fuel shortages,” Joshua Nyoka, president of the Employers Confederation of Zimbabwe, told Reuters.
      “Some of them have started working three days week. The situation is not improving and they don’t know whether they will be able to re-open in January or not,” he said.
      Prices have risen by 55 percent in the last 12 months, and the Zimbabwe dollar is trading much weaker than its official rate of 55 to the U.S. unit, despite a 40 percent devaluation this year.
      Economists say the main problem is one of confidence, which has been badly dented by the seizure of mainly white-owned commercial farms — an agricultural mainstay — for redistribution to landless blacks.
      The issue is not only one of property rights, but the absence of a clear plan for how the land is to be managed in the future, with nearly half of the country’s 12 million hectares of commercial farmland earmarked for the program.


      Although last year’s bumper maize crop — produced mainly by black communal farmers — will ensure that Zimbabwe does not run out of its main food staple in 2001, the country looks set to lose its status as the world’s second-biggest tobacco exporter.
      Its tobacco crop, which generates about a third of Zimbabwe’s export earnings, is forecast to fall to between 160 and 180 million kg from 230 million kg last year. This will lop about Z$5.4 billion off export revenue.
      Meanwhile, gold mining output, the second-biggest export earner, has fallen by 20 percent in the first 11 months of this year.

      ECONOMY SET TO SHRINK FURTHER
      In his inaugural budget, Finance Minister Simba Makoni predicted the economy would shrink by 4.2 percent in 2000 and 2.8 percent in 2001 after contracting by 1.2 percent in 1999.
      But the International Monetary Fund produced more pessimistic forecasts in a harshly-worded statement on Zimbabwe’s economy on Wednesday.
      It sees the economy shrinking by 5.5 percent this year and by between 6.5 and 10 percent next year.
      “Directors expressed deep concern about the decline in per capita income and the deterioration in social conditions in the past several years,” the Washington-based lender said.
      “Zimbabwe needs to take corrective measures urgently in order to forestall a deepening of the current economic crisis.”
      The measures unveiled by Makoni’s November budget — which slashed government spending, cut taxes and acknowledged the debt crisis — were welcomed by the IMF and by financial markets.
      But the main issue, acknowledged by Makoni himself, was whether the government would actually stick to the blueprint.
      Economists have raised their eyebrows over forecasts it will raise Z$28 billion from privatization in 2001, which Harare plans to use to pay external debt arrears and retire domestic debt.
      There is also widespread skepticism over whether defense spending next year will be cut by a third to Z$2.2 billion, as this hinges on an anticipated peace settlement in the Congo.

      Source: MSNBC Research




      © 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters
      Avatar
      schrieb am 18.12.00 19:45:28
      !
      Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an feedback@wallstreet-online.de
      Avatar
      schrieb am 21.12.00 14:24:41
      Beitrag Nr. 37 ()
      Thursday 21 December 8:30 AM



      Zimplats secures Zimbabwe platinum mines from BHP
      By Stella Mapenzauswa
      HARARE, Dec 21 (Reuters) - Zimbabwe Platinum Mines Ltd. (Zimplats) on Wednesday signed an agreement with President Robert Mugabe`s government giving it control of the Hartley Platinum Mine in the southern African country.

      Zimplats Managing Director Roy Pitchford said the agreement enabled the company to complete the acquisition of Australian mining giant BHP Minerals`s 67 percent stake in the Hartley project and its 61.3 percent interest in the Mhondoro Platinum joint venture.

      "The agreement also enables Zimplats to proceed with the Ngezi/SMC Project under the existing fiscal regime established for the Hartley Platinum joint venture until the new fiscal legislation for the Zimbabwe mining industry has been implemented," Pitchford said in a statement.

      The agreement also made provisions for investment at market prices by Zimbabwean black economic empowerment interests acceptable to Zimplats and its financiers for up to 15 percent of the company`s existing issued share capital, he added.

      Zimplats acquired BHP`s Zimbabwe platinum operations last year after the Australian firm closed the troubled Hartley Platinum Mine, leaving it in maintenance since May 1999.

      Mugabe`s government this week released BHP from a performance guarantee tied to the mine.


      HARTLEY BACK IN OPERATION NEXT YEAR

      The original production rate planned for the Hartley Mine will now be achieved by mining 180,000 tonnes per month at the Ngezi Platinum Opencast Mine, with the ore then transported to the surface facilities at Hartley, now called the Selous Metallurgical Complex (SMC)

      The combination of the mine at Ngezi and the Hartley plant are called the Ngezi/SMC Project. Zimplats intends to commence development in early 2001.

      In October, Zimplats, 51 percent owned by Australia`s Delta Gold, said a new fiscal regime for the mining industry in Zimbabwe was among four key requirements for the firm to proceed with its platinum mining project.

      The first phase of production from the Ngezi/SMC Project is expected to produce 98,000 ounces of platinum, 82,000 ounces of palladium, 12,000 ounces of gold, 8,000 ounces of rhodium, 1,300 tonnes of nickel and 1,000 tonnes of copper.

      Zimbabwe`s Mines and Energy Minister Sydney Sekeramayi, sought to allay fears that foreign mining assets in Zimbabwe were under threat after Mugabe, who has sanctioned the invasion of many white-owned farms by militants backed by his ZANU-PF party, threatened earlier this year to next turn his attentions to foreign mining companies.

      "Some fears have been expressed that the current land reform exercise might compromise mine operations. Those fears are totally unfounded. My government wishes to reiterate that all mining titles in Zimbabwe are securely protected by the laws of the land," Sekeramayi said.

      (c) Reuters Limited 2000

      REUTER NEWS SERVICE
      Avatar
      schrieb am 22.12.00 01:23:57
      Beitrag Nr. 38 ()
      Jo, 0.74A$!
      Jetzt brauchen wir noch die Bekanntgabe der Finanzierung ...
      Avatar
      schrieb am 22.12.00 02:12:27
      Beitrag Nr. 39 ()
      (Quelle:escoop.com.au; 20.12.00)

      Zimplats says to BHP: I`ll buy that for a dollar 11:41

      MELBOURNE (eScoop) - It remains to be seen whether today`s success by Zimplats, or Zimbabwe Platinum Mines (ZIM) to give it the correct title, ends up being a Pyrrhic victory.

      The good news is that after signing an agreement with the Zimbabwean government, Zimplats will buy BHP`s Zimbabwe platinum interests, including 67% of the Hartley Platinum venture and 61.3% in the Mhondoro mine. All this for the princely sum of US$1.

      The company also hopes it can press ahead with Ngezi/SMC project and set about securing financial backing for it.

      But there is a catch, as there often is in Zimbabwe these days, with some conditions that may come back to haunt Zimplats.

      Zimplats won`t be getting an exemption from the new laws regarding the mining industry that are due to come in. But at least it will be able to start things under the current laws until the new laws kick in and potentially change the landscape.

      There is also the little matter of Zimbabwean empowerment interests, the same sort of thing which saw families kicked off their farms for "war veterans".

      These empowerment interests can acquire, at "market prices", up to 15% of these projects. While Zimplats said these interests have to be acceptable to itself and its financiers, just how strong a bargaining position it is in is highly debatable.

      Zimplats also has to make provisions for the setting up of a trust fund, enabling anyone who can prove to have been "adversely affected" by the Hartley mine to claim compensation.

      But investors approve, with Zimplats up 1c to 62c on a day when the market is down almost 2%
      Avatar
      schrieb am 22.12.00 19:46:05
      Beitrag Nr. 40 ()
      Exakt 6 Monate sind vergangen seit Beginn dieses Threads.
      ZIM hat es seitdem von 0.23A$ auf 0.73A$ geschafft.
      Mein Aus-dem-Bauch-heraus-Kursziel für die nächsten 6 Monate: 1.5A$.
      Vorraussetzungen:
      * polit. Lage in Zimbabwe beruhigt sich weiter,
      * die neue Minengesetzgebung bringt keine Einschränkungen der property rights,
      * Finanzierung von Ngezi/SMC wird gesichert,
      * Pt/Pd/Rh-Preise bleiben ungefähr auf jetzigem Niveau (+/- 10%).
      Schaun mer mal.
      Avatar
      schrieb am 28.12.00 23:33:11
      Beitrag Nr. 41 ()
      @gholz: Ich habe gerade auf meine "Edelmetall-Watchlist" geschaut und gestaunt.
      Respekt! Genau so etwas meinte der Kostolany mit Phantasie.
      Auch wenn mein Depot in beiden letzten Monaten ziemlich zerbröselt wurde, freut es mich doch ein wenig, dass man auch mit einer anderen Methode als aktienfilters "kaufe nur Gewinner"-Strategie Geld verdienen kann.
      So liegt es wenigstens nicht an der Strategie sondern an mir ;)
      BTW: Hast du den Faber Kommentar in der letzten BO gelesen? Er rät ja zu Godminekäufen, sonst alles in Euro-Anleihen zu stecken.
      Der Puhvogel
      Avatar
      schrieb am 03.01.01 15:57:10
      Beitrag Nr. 42 ()
      Oh, puhvogel, Du hier?
      Zu Faber: er hat oft sehr weit daneben gelegen. An Goldminen habe ich nur noch meine Depotleichen (Herald, Dominion, Precious Metals), und WRF Securities, die alle teilweise in anderen Bereichen tätig sind, und ein paar neulich gekaufte Durban.
      Ansonsten bin ich bei Harmony und Gold Fields, evtl. Delta auf dem Sprung, um zuzuschlagen, aber ich warte noch auf die Trendwende bei Gold.
      Und aktienfilters "kaufe-nur-Gewinner-Strategie" zerbröselt zur Zeit ebenfalls (EMC, Sun Micro, Micron). Ich bin im Grunde eher antizyklisch zu kaufen eingestellt.

      P.S. Palladium steht nur noch ganz knapp unter 1000!!!
      Avatar
      schrieb am 03.01.01 19:29:21
      Beitrag Nr. 43 ()
      Eigentlich bin ich auch ein antizyklischer Investor, deshalb schau ich mich manchmal im Goldforum um, und da ist mir damals Deine Zimplat-Empfehlung aufgefallen und habe mir die auf die Watchliste eingetragen.
      Ich hab mich damals nicht getraut, die zu kaufen, hatte mit Aurora Gold ja auch bereits so einen Notfall im Depot.
      Die CPF hatten wir übrigens auch mal gemeinsam gehalten.
      Was den Faber angeht, so fand ich seine Vorhersagen/Rechnungen bzgl NASDAQ in der BO schon damals nachvollziehbar und auch bei Thailand hatte er ein glücklicheres Händchen (im Gegensatz zu Marc Mobius).
      Er ist ja kein Berufspessimist, wie man das so beim Leuschel wahrnimmt.
      Ich habe dich gerade auch im Osteuropa-Forum bei Sarge gesehen:
      Da kann ich Dir nur zwei Links anbieten:
      http://www.somlo.net/ mit einem ungarischem Forum
      und
      http://next-1b.manuf.bme.hu/~somlo/eco.htm
      Avatar
      schrieb am 03.01.01 19:55:12
      Beitrag Nr. 44 ()
      Gut, daß Du den Mobius erwähnst. Ich glaube, ich habe die beiden verwechselt.
      Äh, CPF??? :confused:
      Hoffentlich wird bald ein wirksames Alzheimer-Medikament für mich fertig ...
      Danke für die Ungarn-Links!
      Avatar
      schrieb am 03.01.01 21:32:36
      Beitrag Nr. 45 ()
      Elan arbeitet gerade ja an einer viel beachteten Impfung gegen Alzheimer.
      Dadurch soll sogar die geistige Leistungsfähigkeit von Gesunden verbessert werden können.
      Was CPF (Charoen Pokphand Feedmill aus Thailand) angeht, so hast Du Dich mal im hiesigen Asien-Board dazu gemeldet.
      Offenbar habe ich das falsch interpretiert, sonst wüßtest Du sicher , was CPF ist, bei den ganzen nervenaufreibenden Kapitalerhöhungen.
      Ich halte Matav, aber ohne mich groß darum zu kümmern.
      Avatar
      schrieb am 03.01.01 23:12:16
      Beitrag Nr. 46 ()
      Ach so, ich glaube mich zu erinnern. Ich hatte irgendwann eine Anfrage zu CPF gestellt, weil sie mir günstig erschienen sind, aber das ist dann im Sande verlaufen. Gegenwärtig beobachte ich Banpu und TUF (Thai Union Frozen Products).
      In Ungarn habe ich nur noch ein paar Inter-Europa Bank (30% im Verlust :( trotz manch guter Dividende ), und nachdem ich vor einem 3/4 Jahr bei Fotex raus bin (Kauf Ende 1998 zu 0,35E, Verkauf Anf 2000 zu 1,60E :D , außerhalb der Speku-Frist fast optimal erwischt), will ich bei den derzeit tiefen Kursen zugreifen, aber irgendwie hat jeder ungar. Wert einen Haken: Pick könnte durch BSE-Fälle in Ungarn getroffen werden, bei Borsodchem weiß man nicht, was Gazprom vorhat, Egis, Richter, Fotex, OTP und MATAV sind mir nicht günstig genug, Zwack hat schon einen Großaktionär, Globus ist ein Langweiler und in Dtl. illiquide, Pannonplast als u.a. PVC-Hersteller nicht unbedingt zukunftsträchtig, MOL und die Versorger Emasz, Demasz usw. sind stark von politischen Entscheidungen abhängig, Skala Coop ist undurchsichtig usw.
      Naja, irgendwas wird sich schon ergeben.
      Avatar
      schrieb am 04.01.01 03:03:23
      Beitrag Nr. 47 ()
      0.79A$ ist doch ein neues all-time-high, ist es nicht?
      Avatar
      schrieb am 04.01.01 06:48:42
      Beitrag Nr. 48 ()
      0.88A$ ist bestimmt ein neues ATH.
      :eek:
      Avatar
      schrieb am 05.01.01 21:30:28
      Beitrag Nr. 49 ()
      Avatar
      schrieb am 09.01.01 02:30:14
      Beitrag Nr. 50 ()
      0,95A$ (+0,07A$).
      ZIM, Idaho Cons. und Portman (und neuerdings Thailand) versuchen, mein Depot zu retten. Wenn es aber mit den Biotechs und Rußland weiter bergab geht, hilft`s nicht viel. Trotzdem danke, netter Versuch!
      Avatar
      schrieb am 09.01.01 04:04:04
      Beitrag Nr. 51 ()
      1 ganzer Aussie-Dollar!
      Avatar
      schrieb am 10.01.01 01:04:45
      Beitrag Nr. 52 ()
      1.20 A$.
      Avatar
      schrieb am 10.01.01 03:30:15
      Beitrag Nr. 53 ()
      Avatar
      schrieb am 10.01.01 18:32:17
      Beitrag Nr. 54 ()
      An gholzbauer


      Lass Palladium erst einmal auf 1500 bis 2000 $
      steigen, was meinst Du was dann los ist.

      Wer auf die ersten zwei Beiträge hin investiert
      hat, sitzt jetzt schon auf rd. 300% Gewinn.

      Palladium im Spot gerade auf rd. 1090 $.

      Wahnsinn was da abgeht.
      Avatar
      schrieb am 10.01.01 19:20:51
      Beitrag Nr. 55 ()
      RE: Palladium und Platin

      ich gehe davon aus, daß die rasante Entwicklung an den Rohstoffmärkten noch weiter geht. Es zeichnet sich noch keine Decke ab.

      Mit Zimplats und NAP bin ich sehr zufrieden. Da kann noch einiges mehr kommen .


      SOM
      Avatar
      schrieb am 11.01.01 02:53:30
      Beitrag Nr. 56 ()
      0.90A$, jetz is aber mal genug mit Konsolidierung.
      Avatar
      schrieb am 11.01.01 04:39:31
      Beitrag Nr. 57 ()
      Quelle: egoli.com.au (Link von stockhouse.com.au)

      Zimplats explains price jump
      January 10, 2001
      Platinum mining company Zimplats (ZIM) issued a response to an ASX query regarding stock movement today. In doing so, the company gave an insight into its current operations.

      In answering specific ASX questions, the company stated that its operating loss for the half-year ended 31 December 2000 should not vary by more than 15% compared to the loss at 31 December 1999.

      Also, that there is no reason it will record any material abnormal or extraordinary profits or losses for the half-year ended 31 December 2000.

      The company gave varied reasons as to why its shares jumped from 88c to $1.01 yesterday.

      According to the company, the increase in the share price is thought to be the result of JB Were & Son report on Zimplats, dated the 21 December 2000. This report valued the Zimplats shares at $1.34, based on a Platinum and Palladium price of US$400 per ounce, considerably below the current prices of these metals. This may encourage further increases in the share price.

      Also, the announcement to the ASX, dated the 21 December 2000, advising that an agreement had been signed between Zimplats and the Government of Zimbabwe facilitating the transfer of all BHP`s platinum assets in Zimbabwe to Zimplats for US$1; and that Government will provide Zimplats with a legislative framework acceptable to investors providing capital for the Ngezi/SMC Project.

      And public awareness through announcements and quarterly reports that the company is in negotiations with several parties on the financing of the Ngezi/SMC Project.

      At the close of trade yesterday Zimplats shares were 13c, or nearly 15% higher at $1.01.
      Avatar
      schrieb am 11.01.01 08:51:31
      Beitrag Nr. 58 ()
      RE: Zimplats

      der Schlußkurs lag bei 0,99 AUD (- 5 %).
      Das Luftholen in der Kursentwicklung ist normal.


      SOM
      Avatar
      schrieb am 11.01.01 16:11:58
      Beitrag Nr. 59 ()
      Thursday 11 January 5:12 PM



      Aquarius shares gain on palladium rush
      SYDNEY, Jan 11 (Reuters) - Shares in miner Aquarius Platinum Ltd jumped 45 cents or five percent to A$9.05 on Thursday as investors took note of sharp gains in world palladium prices.
      Brokers said Aquarius was a likely candidate to benefit from a sharp run-up in prices of platinum group metals - platinum, palladium and rhodium - on the back of concerns about supplies from Russia, a key exporter.

      Aquarius a year ago was trading at A$2 a share.

      On the New York Mercantile Exchange on Wednesday, palladium shot to a new all-time high for a third straight day. Palladium for March delivery closed $38.40 higher at $1,072.80 an ounce -- more than four times the price of gold bullion.

      The lack of supply out of Russia, which produces two-thirds of the world`s palladium, has been behind a price spike of more than $100 an ounce already this year.

      Industrial users, notably auto makers who use the metal for pollution controls, have been left to scramble for supplies.

      Platinum, used in auto catalysts devices before palladium was found to be more efficient, was supported in the furious rally in its sister metal as industrial users desperately sought alternatives.

      April platinum at NYMEX set a new life-of-contract high at $639 an ounce on palladium`s coattails and ended at $637.10, up $6.10. In London, platinum`s afternoon fix was $636, just below last week`s 13-year high of $638.

      Aquarius is seeking to acquire the outstanding shares and options in South Africa`s Kroondal Platinum Mines Ltd via a 32 rand per share cash offer and is targeting production of around a half-million ounces of PGMs within three years.

      Aquarius already holds over 50 percent of the ordinary shares of Kroondal.

      The two firms announced in July that they intended to combine their businesses with a secondary listing on the Johannesburg bourse.

      Kroondal produced 80,000 ounces of PGMs in its first financial year ended June 2000.

      But the fervour over PGM prices failed to support another Australian-listed miner in Africa.

      Zimbabwe Platinum Mines Ltd closed six cents lower at 99 cents after gaining four cents the previous day.

      Analysts said Zimplats` production aspirations were linked to economic and social reforms in the troubled central African nation.

      In December, Zimplats, 51 percent-owned by Delta Gold Ltd , reached a framework agreement with the government to acquire full control of the Hartley mine and the Mhondoro platinum joint venture project in Zimbabwe.


      REUTER NEWS SERVICE



      --------------------------------------------------------------------------------
      Avatar
      schrieb am 14.01.01 10:44:44
      Beitrag Nr. 60 ()
      Avatar
      schrieb am 17.01.01 04:22:17
      Beitrag Nr. 61 ()
      Angesichts der Verschlechterung der polit. Lage in Kongo dürfen wir froh sein, wenn der Konflikt nicht auf Zimbabwe übergreift. Mugabe mischt dort bekannterweise kräftig mit.


      17. Januar 2001

      Unruhe in Kongo-Kinshasa
      Bericht über Schüsse auf Kabila - Hauptstadt abgeriegelt
      In der kongolesischen Hauptstadt Kinshasa sind am Dienstag Schüsse im Bereich des Präsidentenpalasts gefallen. Der Innenminister bestritt am Abend Berichte, wonach Präsident Kabila erschossen oder schwer verletzt wurde. Dennoch riegelten die Behörden die Hauptstadt ab, verhängten eine Ausgangssperre und schlossen die Grenzen.

      win. Nairobi, 16. Januar

      In Kongo-Kinshasa hat am Dienstag möglicherweise ein Putschversuch stattgefunden. Laut verschiedenen Berichten fielen am Nachmittag Schüsse in der Umgebung des Präsidentenpalasts, und kurz darauf wurden grössere Truppenbewegungen beobachtet. Agenturen meldeten unter Berufung auf Geheimdienstkreise in Kampala und Kigali, Präsident Kabila sei bei einem Putschversuch erschossen worden. Andere Quellen, beispielsweise aus Simbabwe, berichteten, Kabila sei schwer verwundet und per Helikopter in ein Militärspital gebracht worden, das unmittelbar darauf von einem massiven Armeeaufgebotbewacht wurde. Am Abend bestritt der Innenminister Kakudji allerdings, dass Kabila getötet worden sei. Vielmehr sei es der Präsident selber gewesen, der diverse Notstandsmassnahmen angeordnet habe. Einige Berichte deuteten darauf hin, dass eventuell nicht der Präsident, sondern sein Sohn getötet oder verwundet worden sei.

      Schliessung der Grenzen
      Kabilas Stabschef hatte zuvor über den Rundfunk den Sicherheitskräften befohlen, die Hauptstadt abzuriegeln und die Grenzen des Landes - auch die Flussübergänge nach Kongo-Brazzaville und den internationalen Flughafen Kinshasas - zu schliessen. Zudem wurde in Kinshasa eine nächtliche Ausgangssperre verhängt. Die Armeekommandanten wurden angewiesen, sich zu ihren Einheiten zu begeben und ihren Truppen bis auf weiteres den Einsatz von Feuerwaffen unter keinen Umständen zu gestatten. Die Bevölkerungwurde gleichzeitig zur Ruhe aufgerufen. Die Bewohner Kinshasas hatten sich bereits zuvor massenhaft in ihre Wohnquartiere zurückgezogen, und die Strassen der Innenstadt leerten sich am Nachmittag, als Truppen an den neuralgischen Punkten Positionen bezogen, ausserordentlich schnell. Die Telefonverbindungen waren unterbrochen; Radio und Fernsehen stellten vorübergehend ihre Sendungen ein.

      Auch am Abend war noch nicht abzusehen, welcher der widersprüchlichen Berichte über Kabilas Schicksal zutraf. Sowohl Innenminister Kakudji als auch Rwanda und Uganda haben durchaus Interesse daran, die Wahrheit zu verzerren und bestimmte Reaktionen auszulösen.

      (Quelle:www.nzz.ch)
      Avatar
      schrieb am 02.02.01 11:02:51
      Beitrag Nr. 62 ()
      Second Quarter Activities & Cashflow Report
      1/23/01

      ZIMBABWE PLATINUM MINES LIMITED 2001-01-24 ASX-SIGNAL-G

      HOMEX - Sydney

      +++++++++++++++++++++++++
      PROJECT PROGRESS

      In addition to the progress reported under the acquisition of BHP`s
      platinum assets, progress on the Ngezi/SMC Project includes the
      following:

      CORPORATE FINANCING

      In order to fulfill the undertaking in terms of the Framework
      Agreement, to make the equivalent of 15% of the existing share
      capital available to local empowerment investors, and to provide
      Zimplats with funding for corporate overheads during the development
      of phase one of the Ngezi/SMC Project, negotiations with a Zimbabwean
      corporate bank for a private placement have commenced.

      The corporate bank is expected to hold these shares until local
      empowerment investors are in a position to acquire the shares from
      the bank, either directly or through unit trusts or other such
      facilities put in place in order that Zimbabwe nationals are able to
      purchase an interest in the activities of Zimplats.

      PROJECT FUNDING

      Several strong expressions of interest in financing the Ngezi/SMC
      Project have been received from a variety of institutions. These
      include mining companies, development agencies, emerging market funds
      and corporate/merchant banks.

      A number of these institutions have completed their due diligence
      exercises and further due diligence is planned to be completed
      shortly. As a result of the due diligence exercises completed, some
      indicative proposals have been received by Zimplats.

      Additional proposals will be received shortly and Zimplats will be
      reviewing these proposals with a view to making a final decision to
      permit Project financing to be in place for the 1st April 2001 start
      date.


      THE NGEZI/SMC PROJECT

      Further refinements to the Development Plan were implemented in order
      to reflect changes in anticipated costs. Certain costs, such as
      diesel fuel supply, have increased in US dollar terms over the
      period. Care and maintenance costs for the Hartley underground mine
      and the SMC facilities have been included up to the date of peak
      funding requirement. The project team has, however, identified other
      cost areas where savings can be realised. The amended Development
      Plan project NPV, at an after-tax real discount rate of 12.5%,
      remains similar to the previously reported figure.

      These project economics are based upon a commencement date of 1 April
      2001. If the start date is delayed, road construction will extend
      further into the 2001/2002 wet season, thereby adversely affecting
      the NPV and IRR estimates.

      Development Plan metal prices remain unchanged from those stated in
      the September 2000 Quarter Report, notwithstanding the significant
      PGM price increases experienced during the period.

      Set out below is a comparison of the metal prices applied and the
      metal prices prevailing at 2 January 2001:

      DEVELOPMENT PLAN 2 JANUARY 2001
      YEARS 1 AND 2 YEAR 3 YEARS 4 - 20 METAL PRICES
      US$ US$ US$ US$

      Pt 500/ounce 450/ounce 380/ounce 609/ounce
      Pd 600/ounce 500/ounce 360/ounce 968/ounce
      Au 278/ounce 278/ounce 280/ounce 270/ounce
      Rh 1,500/ounce 1,200/ounce 900/ounce 2,025/ounce
      Ni 7,500/tonne 7,000/tonne 6,850/tonne 6,935/tonne
      Cu 1,650/tonne 1,600/tonne 1,500/tonne 1,783/tonne

      The haulage road route from Ngezi to the Selous Metallurgical Complex
      has been gazetted for construction and for subsequent road train
      usage.

      The metallurgical testwork programme initiated last quarter to
      investigate the possibility of improving anticipated processing
      performance was continued. The first phase (bench testing) has been
      completed, with results being generally in line with previous
      testwork. Consequently, no changes to metallurgical recoveries or
      operating criteria have been made in the Development Plan. The second
      phase (mini-plant) of the testwork has been initiated.

      Finalisation of negotiations concerning technical support agreement
      and smelter matte sales is pending subject to determination of the
      project construction commencement date.


      ZIMPLATS SHARE PRICE AND VOLUME TRADES

      At the start of the quarter the Zimplats share price stood at A$0.28,
      improving to A$0.73 at the end of the quarter.

      The total volume of shares traded during the quarter increased
      significantly over the previous quarter, increasing from 2.5 million
      shares traded, to 5.6 million.

      The highest volume on any one day occurred on the 5th October 2000
      when 1.1 million shares were traded.


      ZIMBABWE ECONOMY

      The 2001 budget, presented in November 2000, implemented some of the
      provisions expected in the proposed fiscal legislation for the mining
      industry. The lower rates of taxation for mining, reduced from 38% to
      25%, and to 20% for platinum mining for the first five years, were
      announced. The royalty rates for precious metals were established at
      3%, and for base metals at 2%. Reference was also made to providing
      offshore bank accounts for the proceeds of mining sales.

      The expected floating of the Zimbabwe dollar to allow it to establish
      its own exchange rate with the major currencies has not materialised.
      The rate of exchange with the United States dollar was 53 to 1 at the
      beginning of the quarter, and 55 to 1 at the end.

      Discussions with donor agencies, the World Bank and the IMF are
      continuing and it is hoped that the donor and aid funding will resume
      soon.


      INFORMATION ON ZIMPLATS

      CONTACT - AUSTRALIA CONTACT - ZIMBABWE
      Mr Steve Gemell Mr Roy Pitchford or Mr Greg Sebborn
      Tel: +61 2 9252 7880 Tel: +263 4 746 737 / 746 858
      Fax: +61 2 9252 7882 Fax: +263 4 746 505
      Email: info@zimplats.com Email: roy.pitchford@zimplats.co.zw
      Website: www.zimplats.com Email: greg.sebborn@zimplats.co.zw
      Website: www.zimplats.com

      In the report Zimplats refers to Zimbabwe Platinum Mines Limited
      and/or its subsidiaries.
      Avatar
      schrieb am 02.02.01 11:03:58
      Beitrag Nr. 63 ()
      Zimplats concludes BHP platinum transfer
      February 2, 2001
      Zimbabwe Platinum (ZIM) announced today that it has concluded the transfer of BHP Ltd`s (BHP) platinum assets in Zimbabwe. Its with effect 31 January 2001.

      The assets consist of BHP`s 67% interest in the Hartley Platinum Joint Venture, including the Hartley Platinum Mine, and its 61.3% interest in the Mhondoro Platinum Joint Venture. In concluding these transfers, Zimplats has acquired 100% ownership of the former BHP operating company, BHP Minerals Zimbabwe Pty Ltd, and has registered a change of name so that the Company is now known as Hartley Minerals Zimbabwe Pty Ltd.

      The transfer of these assets enables Zimplats to proceed with financing arrangement for the proposed Ngezi/SMC project.

      At 1553 AEST Zimplats shares were 5c, or 5% lower at 92c and BHP shares were 16.5c lower at $19.15.
      Avatar
      schrieb am 02.02.01 11:20:56
      Beitrag Nr. 64 ()
      Mining News
      Fri, 02 Feb 2001, 7:02pm EST
      Impala May Bid for Zimbabwe Platinum, Newspaper Says (Correct)
      By Michael Hamlyn


      (Corrects to say Impala in fifth paragraph)

      Johannesburg, Feb 2 (Bloomberg) -- Impala Platinum Holdings Ltd., the world`s second-largest platinum producer, may make a takeover bid for Australia-based Zimbabwe Platinum Mines Ltd., which is 51 percent owned by Delta Gold Ltd., said Business Report newspaper, citing unnamed industry sources.

      The purchase will require the approval of the South African Reserve Bank, which often tries to discourage investment outside of the country.

      ``I can`t deny that (Zimbabwe`s) Great Dyke region is interesting for Impala, as it would be for any other platinum producer,`` Cathie Markus, corporate affairs director of Johannesburg-based Impala, told the newspaper.

      Zimbabwe has the second-biggest known platinum reserves in the world after South Africa, though it only produces about 20,000 ounces of the metal from the Mimosa mine, an asset owned by closely held Zimasco Ltd. South Africa produces about four million ounces of platinum a year.

      ``Delta is reviewing its options with regard to its 51 percent holding in Zimplats,`` Delta Managing Director, Terry Burgess, said in an interview with Bloomberg, without mentioning Impala. He said the company is yet to decide whether to retain or sell at least part of its interest in the company, though Delta will not contribute to any major capital expenditure.

      ``Zimplats has some funding requirements and obviously Delta does not want to stand in the way of the development of Zimplats,`` he said.
      Avatar
      schrieb am 08.02.01 00:47:38
      Beitrag Nr. 65 ()
      Jawoll, 20% Steuern ist wirklich O.K. :)



      Thursday 8 February 1:22 AM



      Zimplatssays to secure financing, partner soon
      CAPE TOWN, Feb 7 (Reuters) - Zimbabwe Platinum Mines (Zimplats) said on Wednesday it expected to secure financing for its $47 million platinum project in Zimbabwe and a technical partnership with a major mining company in one or two months.
      "We are getting a considerable amount of interest from banks and mining houses," Zimplats finance director Greg Sebborn told reporters at a mining conference in Cape Town.

      Sebborn said Zimplats was talking to all major platinum producers about taking an interest in the Ngezi/SMC platinum project, which is forecast to produce 92,000 ounces of platinum and 85,000 ounces of palladium annually in its first phase.

      "In some cases the discussions are well advanced," Sebborn said, but he declined to name the companies involved. Neighbouring South Africa is home to the world`s two biggest plantinum miners, Anglo Platinum and Impala Platinum .

      Sebborn said he expected Zimplats to find a partner and secure financing in one or two months. Production is expected to begin in October or November of this year.

      He added Zimplats would not give up a controlling interest in Ngezi/SMC to a partner.

      The $47 million capital cost of the project was cheap compared to greenstone projects of a similar size which could cost up to $300 million, Sebborn said.

      Zimplats is 51-percent owned by Australia`s Delta Gold . The company acquired the Zimbabwean platinum operations of Australia`s BHP Ltd in 1999 after BHP closed its troubled Hartley Platinum mine in Zimbabwe.

      Zimplats Managing Director Roy Pitchford later told delegates to the conference that the Harare government would soon enact a new fiscal regime that would satisfy the needs of the country`s embattled mining industry.

      The new fiscal regime is expected to lower the tax rate on platinum operations to 20 percent for five years, after which it will rise to 25 percent. It is also expected to relax foreign exchange restrictions on the industry.

      Investor confidence in Zimbabwe has plunged due to a wave of political violence fuelled by land invasions and parliamentary elections last June which President Robert Mugabe` ruling party barely won.

      Several foreign mining companies have either suspended operations or put planned investments on hold until stability returned to the southern African country.

      "We believe that this new legislation will address the issues that foreign investors are looking at," Pitchford said. (c) Reuters Limited 2001

      REUTER NEWS SERVICE
      Avatar
      schrieb am 08.02.01 01:52:21
      Beitrag Nr. 66 ()
      RE: Zimplats

      da kommt langsam Musik rein. :D

      SOM
      Avatar
      schrieb am 09.02.01 09:20:04
      Beitrag Nr. 67 ()
      RE: Zimplats

      die Aktie zieht an auf 1,22 AUD :D


      SOM
      Avatar
      schrieb am 11.02.01 17:36:57
      Beitrag Nr. 68 ()
      An Som.you

      Alle die mit mir bei 0,30 A.$ eingestiegen
      sind, sollen die jetzt mit mir Gewinne mit-
      nehmen, oder sollte man noch dabeibleiben.

      Etwas habe ich im Bereich von einem $ einge-
      sackt.
      Jetzt hätten wir ja 300% gemacht. Was meinst
      Du?
      Ich sehe jetzt auch für Jumbo gute Chancen.
      turn- around-Chance.
      Avatar
      schrieb am 11.02.01 19:20:04
      Beitrag Nr. 69 ()
      Lieber Manfred, Du bist doch der absolute Spezialist,

      warum stellst Du dann so bloede Fragen.

      Am 6.12.00 hast Du Zim zum Verkauf gestellt (Teile), damals
      lag der Kurs bei 61 cts. Fuer das Geld sollten wir Spinifex zu 11,5 Acts. kaufen (Spinifex am Freitag 12cts.)


      Dann hast Du nocheinmal am 6.1 01 geraten 50 % zu verkaufen,
      der Kurs lag bei 0,85 A$.

      Jetzt behaubtest Du, Zim zu 1 A$ verkauft zu haben.

      Du musst uns schon alle fuer besonders bloed halten.

      Gehe wieder zurueck zu Deinem Neuen Markt alter Maerchenerzaehler.

      Ich habe letzte Woche noch etliche Zim nachgekauft und hoffe in den naechsten Wochen ein paar schnelle Gewinne zu machen. Also verkauf ruhig.


      Mfg
      Avatar
      schrieb am 11.02.01 20:22:28
      Beitrag Nr. 70 ()
      RE: Zimplats

      ich habe noch etwas mehr als die Hälfte, die ich zu 0,60 gekauft habe.


      SOM
      Avatar
      schrieb am 12.02.01 01:47:42
      Beitrag Nr. 71 ()
      Also....
      Ich hab noch alle. Vielleicht nicht mehr alle Tassen im Schrank (:D), aber ich will es bei ZIM wirklich wissen, wenn Ihr wißt, was ich meine. ;)
      MfG
      Avatar
      schrieb am 12.02.01 11:52:16
      Beitrag Nr. 72 ()
      Leute, es klingt sehr interessant, aber mich interessiert nicht die Karosserie eines Autos, sondern der Motor. Der wird entscheiden, ob die Aktie gut ist, das heißt schnell läuft, oder ob es nach 5 Kilometern schon zu Ende geht. Wer weiß, wie die finanzielle Situation der Gesellschaft derzeit aussieht, das heißt Kasse, Assets, Burning Rates und das Management. Das ist der Motor! Good luck!
      Avatar
      schrieb am 12.02.01 14:19:17
      Beitrag Nr. 73 ()
      Royalflash

      ob Du diese Fragen auch bei Deinen anderen Werten gestellt hast, wage ich zu bezweifeln.


      zurueck zu Deinem Neuen Markt


      Mfg
      Avatar
      schrieb am 12.02.01 14:30:51
      Beitrag Nr. 74 ()
      Hallo Arhaes,

      ich danke Dir für Deinen Kommentar und glaube, dass alle Werte, die ich bis jetzt besprochen habe, sei es Nasdaq, Neuer Markt, Australien usw., fundamental mehr als stimmen. Das heißt, der Motor läuft rund und die Inspektion wurde mehrfach durchgeführt. Oder was meinst Du?
      Avatar
      schrieb am 12.02.01 14:47:39
      Beitrag Nr. 75 ()
      Royalflash,
      deine vorher gestellten Fragen werden in diesem Thread und auf der Firmen-Website alle beantwortet. Viel Spaß beim Lesen. :D
      Avatar
      schrieb am 12.02.01 16:00:08
      Beitrag Nr. 76 ()
      Ja,ja Royalflash,

      ist ja gut,

      gib als Suchfunktion Zimplats ein und die Infos werden Dir nur so um die Ohren fliegen.

      Ich hoffe Du weist wie das geht??


      Mfg
      Avatar
      schrieb am 12.02.01 16:02:11
      Beitrag Nr. 77 ()
      Royalflash,

      hast Du was mit Schumacher zu tun??

      MfG
      Avatar
      schrieb am 12.02.01 16:03:30
      Beitrag Nr. 78 ()
      seid ihr verspannt ?
      Avatar
      schrieb am 12.02.01 16:45:02
      Beitrag Nr. 79 ()
      Ich bin gespannt,

      wohin der Kurs noch geht.

      So ich muss jetzt Schluss machen und gehe nach Hause,
      bis morgen.

      MfG
      Avatar
      schrieb am 13.02.01 08:16:49
      Beitrag Nr. 80 ()
      Zim heute wieder einmal einer der Topgewinner in Australien.
      Diese Nachricht kam nachboerslich heraus.

      Foreign Currency Accounts Zimbabwe
      Announced on 2001/02/13 16:37:45.
      Part:A 209 words
      Status: Not market sensitive (N)
      Industry Sub Group: Mining Explorer (27)



      ZIMBABWE PLATINUM MINES LIMITED 2001-02-13 ASX-SIGNAL-G

      HOMEX - Sydney

      +++++++++++++++++++++++++
      The recent changes to the regulations controlling the operation of
      Foreign Currency Accounts in Zimbabwe (FCAs) do not affect Zimplats.
      It should be noted:

      (1) The changes are temporary - effective only to the 15 February
      2001.

      (2) Exporters will continue to have the right to credit their FCAs
      and to make foreign payments from these FCAs as before.

      (3) Inflows affected by this temporary measure relate only to foreign
      exchange received and mediated by Authorised Dealers in the
      inter-bank market when an Authorised Dealer buys foreign exchange
      from export proceeds, pre and post shipment finance earmarked for the
      purchase of green leaf tobacco and other sources.

      (4) In any event, Zimplats will not be utilising local FCA accounts
      for the future proceeds of metal sales. Sale proceeds will be held in
      offshore accounts and disbursed by an independent trustee according
      to arrangements agreed upon between Zimplats and the Government of
      Zimbabwe.

      FOR FURTHER INFORMATION CONTACT:

      ZIMBABWE
      Mr Roy Pitchford
      CHIEF EXECUTIVE OFFICER
      Zimplats
      Tele: +263 4 746 858
      Fax: +263 4 746 505
      Email: roy.ptichford@zimplats.co.zw
      Website: www.zimplats.com

      Foreign Currency Accounts Zimbabwe
      Announced on 2001/02/13 16:37:45.
      Part:A 209 words
      Status: Not market sensitive (N)
      Industry Sub Group: Mining Explorer (27)


      Mein Nachkauf letzte Woche war goldrichtig, ich hoffe ihr habt noch festgehlten an Zim, auch wenn schon die ersten zu Gewinnmitnahmen (bei 60cts.) geraten haben.
      Manchmal ist es eben klueger Gewinne laufen zu lassen.

      Es gibt praktisch keine Verkaeufer mehr am Markt, naechstes Kursziel ueber 2AD.

      Sorry, das musste sein.

      MfG
      Avatar
      schrieb am 13.02.01 08:39:20
      Beitrag Nr. 81 ()
      RE: ZImplats

      unfassbar, die Aktie schnellt hoch auf 1,44 AUD.
      Ein Blick in das Orderbuch verrät, daß eigentlich keine Verkäufer im Markt sind.


      SOM
      Avatar
      schrieb am 13.02.01 12:08:19
      Beitrag Nr. 82 ()
      Som.you,

      sag ich doch!!!

      Ich hoffe Du bist noch dabei?

      MfG
      Avatar
      schrieb am 19.02.01 20:41:11
      Beitrag Nr. 83 ()
      50 % habe ich realisiert.

      Den Rest werde ich wahrscheinlich nicht
      mehr lange halten.
      Kurse von 1,25 - 1,40 A. $ waren wirklich
      nicht schlecht.
      Jetzt setze ich auf SBM, SPX, Jumbo, und
      Global.

      Bei Aquarius habe ich sogar bei 10 A.$
      zum Ausstieg geblasen.

      Es reich ja, wenn Arhaes die Aktien noch
      hält, damit der Kurs nicht ganz abnippelt.
      Avatar
      schrieb am 20.02.01 09:09:27
      Beitrag Nr. 84 ()
      Und bei My Casino ???

      Wohl zuviel Rindfleisch gegessen???

      GoGo
      Avatar
      schrieb am 21.02.01 19:21:39
      Beitrag Nr. 85 ()
      Ich steige jetzt komplett aus.

      Die dicken Gewinne reichen mir.

      Vielleicht kann der Rindfleischesser
      Arhaes sie mir ja in Australien abkaufen.

      400% reichen.

      Kurs von Palladium fällt wie ein Stein.
      Avatar
      schrieb am 21.02.01 21:09:22
      Beitrag Nr. 86 ()
      manfred,
      du hast den großen "Vorteil", den kurzfristigen Spekulationsgewinn mit anderen Verlusten verrechnen zu können. Wenn ich jetzt bei ZIM ausstiege, müßte ich Steuern zahlen wie blöd, weil meine Verluste längst nicht zur Kompensation ausreichen.
      Kann sein, daß Pd weiter fällt und ZIM in ein paar Wochen deutlich niedriger steht. Kann aber auch sein, daß die Finanzierungs-Verhandlungsergebisse dem Kurs trotz rückläufiger PGM-Preise einen Schub verleihen.
      Die Russen werden den Palladium-Preis mittel- und langfristig schon so hinbiegen, daß sich ein Festhalten für mich lohnt.

      MfG
      Avatar
      schrieb am 22.02.01 08:50:22
      Beitrag Nr. 87 ()
      Einige (Manfred) hier im Board scheinen nicht zu verstehen,
      dass ZIM nicht in erster Linie vom Palladium und Platin Preis abhaengig ist.

      Es ist ziemlich egal ob der Preis fuer Palladium bei 1.100 oder bei 800$ steht. Die Politische Lage in Simbabwe ist derzeit wohl etwas wichtiger.

      Ob das KGV nun bei 0,8 oder 1,2 steht ist doch voellig egal.


      MfG
      Avatar
      schrieb am 22.02.01 13:34:25
      Beitrag Nr. 88 ()
      Die meisten Dankesbriefe im Bekanntenkreis
      habe ich für die Gewinnmitnahmen bei
      AQP erhalten.

      Auch bei Zimplats dürfte dieses richtig
      sein.
      Später kann man dann über einen Einstieg
      wieder nachdenken.
      Die Gewinnmitnahmen ab 1,40 A.$ nach unten
      waren richtig.
      Jetzt gibt es enormen Nachholbedarf bei
      Gold. Die Leihraten steigen kontinuierlich
      dieses ist ein Zeichen für einen Anstieg.
      Avatar
      schrieb am 15.03.01 18:25:03
      Beitrag Nr. 89 ()
      (http://www.fingaz.co.zw/fingaz/2001/March/March15/1006.shtml…

      National Report

      Zimbabwe’s gold output falls, $2,75b lost

      Staff Reporter
      3/15/01 10:16:54 PM (GMT +2)

      ZIMBABWE’S total gold output last year dipped by nearly six tonnes versus 1999’s production because of the country’s economic crisis, a loss which translates to about $2,75 billion, the Chamber of Mines of Zimbabwe said this week.


      The chamber, which has just released gold output figures for the year 2000, said a host of economic problems had forced several mining houses to suspend operations during the year, leading to the drop in total output.

      Zimbabwe last year produced about 21,8 tonnes of gold, down from 27,7 tonnes in 1999. This is the first time in 20 years that Zimbabwe has experienced a decline in production, which had increased steadily from a mere 11 tonnes in 1980.

      "Total gold production for Zimbabwe declined by nearly six tonnes in the year 2000 compared with the year 1999 mainly due to a severe shortage of foreign currency available to the gold mining sector, an unrealistic exchange rate and high inflation," the chamber said.

      "This decline is very drastic and serious for the economy since it translates into a loss in foreign currency equivalent of US$50 million ($2,75 billion) in one year."

      The chamber said the decline in production became evident on a monthly basis from November 1999 and continued progressively throu-ghout last year. It was further worsened by chronic shortages of fuel supplies, particularly diesel, which caused frequent unplanned production stoppages on mines.

      "The major problems arise from the erroneous anomaly that gold producers are not considered exporters since they sell their gold to the Reserve Bank which sells it to the world market," it said.

      "This anomaly unfairly prejudices gold producers compared with other exporters in that gold producers are not allowed to receive revenue in foreign currency."

      The chamber said the concession granted by the government last August to allow gold producers to receive 20 percent of their earnings in hard cash was inadequate to cover the import needs of the producers.

      This, the chamber said, was because the 20 percent is paid at the fixed exchange rate of one US dollar per $55, when the sector buys most of its forex from the parallel market at rates as high as $100 to one greenback.

      "These measures brought temporary relief because the foreign currency gap was not adequately closed and inflation was not contained or reversed. As a result, the sector has continued to incur losses which are impacting negatively on current and future gold production," it said.

      "The industry and the country are in real danger of having some of the major gold mines suspend operations soon in order to avoid the accumulation of massive losses," it warned.

      The chamber said Falcon Gold (Pvt) Limited, one of Zimbabwe’s main gold producers, had indicated its intention to close its Dalny Mine and to suspend operations at its Venice Mine near Kadoma, the second such warning in less than a year.
      Avatar
      schrieb am 15.03.01 18:33:17
      Beitrag Nr. 90 ()
      Noch mehr Nachrichten zu Zimbabwe.
      U.a. zimbabwische Börsendaten.

      http://www.fingaz.co.zw/
      Avatar
      schrieb am 20.03.01 01:52:41
      Beitrag Nr. 91 ()
      Yo, endlich dreht ZIM wieder nach oben. Es hat sich offenbar bis nach Australien rumgesprochen, daß sich die PGM-Preise stabilisiert haben.
      1,24 A$ (+0,14A$).
      Nur noch ein paar Tage bis zur Bekanntgabe der Finanzierung.
      Avatar
      schrieb am 20.03.01 18:49:43
      Beitrag Nr. 92 ()
      Gold Mining Group Closes Down

      Panafrican News Agency (Dakar)

      March 20, 2001
      Posted to the web March 20, 2001

      Harare, Zimbabwe

      One of Zimbabwe`s biggest gold mining companies, Falgold, Tuesday announced an indefinite closure citing a difficult operating environment.

      It said that escalating energy costs, lack of fuel, high inflation and a prolonged depressed gold price had left it with no option but shut down.

      "Hyper-inflation beyond all expectations, shortages of foreign currency necessary to procure vital imports, irregular fuel supplies and electricity load shedding have made monthly profitability almost impossible to achieve in the face of a weak international gold price and an unrealistic foreign exchange rate supported by government throughout the year," Falgold said in a statement.

      The company, which saw profits whittled down from 100 million Zimbdollars in 1999 to just 5 million Zimbdollars last year, is the latest mining firm to announce closure due to the country`s worsening economic situation.

      Several mining companies have either suspended operations or shut down permanently, citing operational difficulties.

      Zimbabwe is experiencing a severe economic crisis, with most imported commodities such as fuel and power being rationed because the government has no foreign currency to import them in sufficient quantities.


      --------------------------------------------------------------------------------

      Copyright © 2001 Panafrican News Agency. Distributed by AllAfrica Global Media (allAfrica.com).
      Avatar
      schrieb am 21.03.01 14:04:04
      Beitrag Nr. 93 ()
      Es hat den Anschein, dass es ZIM gelungen ist einen Partner zu finden, der die Projekte mit finanziert. Gespaechspartner gab es ja ausreichend:

      "has held talks with Anglo American Platinum Corp., Impala Platinum Holdings Ltd., Lonmin Plc, Anglovaal Mining Ltd. and others" ,said Greg Sebborn

      Ebenso gibt es Gespraeche mit Banken, die ein grosses Interesse haben:

      "The company also expects to announce agreements with banks which are also expected to help it raise the funding".

      Der Kurs hat in den letzten Tagen ohne weitere Neuigkeiten bekannt zu geben, um 40% zugelegt.

      Gibt man in den naechsten Tagen eine neue Partnerschaft bekannt, wird der Kurs sehr schnell auf 2 bis 3 A$ steigen.

      Das KGV duerfte bei einem Kurs von 1,39 AD bei ca. 0,6 liegen.

      Die Marktkapitalisierung liegt bei 122,74 Mio AD.

      Die Resourcen haben einen Wert von derzeit 342.000 Millionen AD.

      Fuer eine Aktie erhalte ich einen Gegenwert von derzeit 3.873 AD an den Resourcen.

      MfG

      und auf keinen Fall verkaufen!!!!
      Avatar
      schrieb am 22.03.01 23:45:38
      Beitrag Nr. 94 ()
      *DJ Australia`s Zimbabwe Platinum Mines In Trading Halt


      (MORE) Dow Jones Newswires 22-03-01

      2208GMT

      Pending Co Statement

      SYDNEY (Dow Jones)--A temporary trading halt has been applied to Zimbabwe Platinum Mines Ltd. (A.ZIM) on the Australian Stock Exchange Friday pending the release of a company statement.

      The shares won`t resume normal trading until Tuesday, March 27 unless the company statement is issued before that time.

      - - 22/03/01 22-16G (END) Dow Jones Newswires 22-03-01

      2216GMT~200103222208
      Avatar
      schrieb am 23.03.01 00:17:58
      Beitrag Nr. 95 ()
      Herr Mugabe, Sie haben Ihr Land ordentlich in die Sch... geritten.
      :mad:

      Gold Mines Hit Trouble

      --------------------------------------------------------------------------------

      Story Filed: Wednesday, March 21, 2001 10:20 AM EST

      Mar 21, 2001 (UN Integrated Regional Information Network/All Africa Global Media via COMTEX)-- Several gold mines in Zimbabwe face closure due to the small amount of foreign currency earnings they are allowed to retain, South Africa`s `Business Day` quoted a mining executive as saying on Tuesday.

      Chamber of Mines of Zimbabwe CEO, David Murangari, said a number a gold mines were operating at a loss and that production of gold - the country`s second highest foreign currency earner - dropped six mt from 1999 to 2000.

      "Quite a number of mines are operating at a loss and the situation is not good," he said. "Gold producers are being prejudiced because they are being allowed to keep only 20 percent of their foreign currency (earnings)," said Murangari. He added that the government was expected to allow gold producers to retain at least 40 percent of their earnings in foreign currency.

      Producers still had to import critical inputs in foreign currency, which they were forced to source from the parallel market at almost double the official exchange rate because of a severe shortage of foreign exchange in Zimbabwe, the newspaper said.

      Copyright UN Integrated Regional Information Network. Distributed by All Africa Global Media(AllAfrica.com)


      KEYWORD: Zimbabwe
      Mining

      Copyright © 2001, Africa News Service, all rights reserved.
      Avatar
      schrieb am 23.03.01 00:20:59
      Beitrag Nr. 96 ()
      Mining Firm`s Assets Up for Sale


      Financial Gazette (Harare)

      March 22, 2001
      Posted to the web March 22, 2001

      Staff Reporter
      Harare

      The liquidator of Reedbuck Gold (Pvt) Limited, a Midlands-based gold mining firm, has started selling off the company`s assets to pay off creditors.

      Robert McIndoe, of Ernst & Young Trust Company, last week said he was seeking prospective buyers for all of the mining house`s assets.

      The firm was placed under liquidation in January after efforts to save it through judicial management failed.

      "The assets of the company include mining claims, gold mines with necessary equipment for both underground and open-cast mining, buildings, mining stores, residential accommodation within the vicinity of the mines, motor vehicles and other mining related movables," McIndoe told the Financial Gazette.

      Reedbuck owns Gaika Mine, an open-cast mine near Kwekwe, Camperdown Mine in Shurugwi, an underground mine near Mashava known as Lennox Mine, and several gold mining claims in these areas.

      The firm was put under liquidation at the instigation of its main creditors, the Jewel Bank of Zimbabwe and Stanbic.

      The liquidator, however, could not disclose how much Reedbuck owed to each of the creditors, saying most of the claims against the company had not yet been proved.

      "The creditors have not proved their claims as yet so I cannot say how much each of them is owed by the company," he said.

      He said no valuation of the assets had been done so the price of each asset would be determined by the offers from prospective buyers.

      "However, the highest or any offer will not necessarily be accepted.

      Consideration will be given to such factors as terms of payment because we cannot accept, say, the highest offer when the buyer is prepared to pay over 10 years," he said.

      He said if there were no ready buyers for the mines and claims, he might be forced to lease them out until Zimbabwe`s economic situation improves.

      The firm was last June put under judicial management but this did not work, resulting in it being lined up for liquidation at the beginning of this year.

      Several gold mining firms in Zimbabwe are reeling under serious financial problems because of the country`s fixed exchange rate and the government`s reluctance to allow miners to receive all their earnings in foreign currency.


      --------------------------------------------------------------------------------

      Copyright © 2001 Financial Gazette. Distributed by AllAfrica Global Media (allAfrica.com)

      (http://allafrica.com/stories/200103220296.html)
      Avatar
      schrieb am 23.03.01 00:52:37
      Beitrag Nr. 97 ()
      *DJ Australia`s Zimbabwe Platinum Mines In Trading Halt


      (MORE) Dow Jones Newswires 22-03-01

      2208GMT

      Pending Co Statement

      SYDNEY (Dow Jones)--A temporary trading halt has been applied to Zimbabwe Platinum Mines Ltd. (A.ZIM) on the Australian Stock Exchange Friday pending the release of a company statement.

      The shares won`t resume normal trading until Tuesday, March 27 unless the company statement is issued before that time.

      - - 22/03/01 22-16G

      (END) Dow Jones Newswires 22-03-01

      2216GMT Potential Invest In Co


      Zimplats, as the company is commonly known, also responded to an ASX query about recent price gains in its share price by saying it is aware of information that hasn`t been announced to the market, which may affect its share price if it were to become public.

      The trading halt has been applied because the company isn`t yet in a position to make the announcement, which relates to a potential investment in Zimplats. That investment is conditional on the approval of a foreign central bank, which hasn`t yet been received in writing, Zimplats said.

      "Accordingly, the potential investment is not certain to occur," it said.

      Zimplats expects to be able to make an announcement on the subject Monday.

      Lately, Zimplats has been engaged in funding negotiations for its Ngezi/SMC platinum and palladium project.

      "It is considered that price and volume fluctuations...in recent trading figures result from speculation that a deal is imminent," it added.

      The stock closed at A$1.29 Thursday, having climbed from a recent low of 95 cents set March 13.

      Company website: http://www.zimplats.com

      -By Helen Ubels, Dow Jones Newswires;

      61-2-8235-2950; helen.ubels@dowjones.com

      (END) Dow Jones Newswires 22-03-01

      2243GMT~200103222208
      Avatar
      schrieb am 23.03.01 01:10:49
      Beitrag Nr. 98 ()
      Avatar
      schrieb am 23.03.01 08:19:14
      Beitrag Nr. 99 ()
      Hallo gholzbauer,

      es wird nichts negatives kommen am Montag,

      man gibt einen grossen Partner bekannt und der Kurs steht bei ueber 2 A$. Die politische Situation kennen wir ja alle.
      Und wenn der Regierung 20 % der Aktien gehoeren wird das Projekt schon gut laufen, oder vielleicht nicht?
      Ich bleibe zumindest optimistisch.

      Schade nur fuer diejenigen ,die bereits verkauft haben.

      MfG



      ZIMBABWE PLATINUM MINES LIMITED (ZIM)
      (Company background)
      Trading Halt
      Announced on 2001/03/23 10:04:40.
      Part:B 1404 words
      Status: Market sensitive (Y)
      Industry Sub Group: Mining Explorer (27)



      --------------------------------------------------------------------------------


      ZIMBABWE PLATINUM MINES LIMITED 2001-03-23 ASX-SIGNAL-G

      HOMEX - Sydney

      +++++++++++++++++++++++++
      ZIMBABWE PLATINUM MINES LIMITED - REQUEST FOR TRADING HALT

      We refer to your facsimile letter dated 21 March 2001 forwarded to
      the Company Secretary.

      As the Company is unable to respond in writing by 4.00 pm AEDST and
      as the Company is aware of information which has not been announced
      and which may affect its share price if the information were in the
      public domain, the Company hereby requests a trading halt in the
      Company`s securities.

      The reason for the trading halt is that an announcement in respect of
      information cannot be made immediately in view of the fact that it
      relates to a potential investment in the Company which is conditional
      upon the approval of a foreign central bank. Such approval has not
      yet been obtained in writing. Accordingly, the potential investment
      is not certain to occur.

      However, it is expected that it will be possible for an announcement
      to be made on Monday, 26 March 2001 in relation to the potential
      investment. Accordingly, the Company seeks a trading halt to last
      until 4.00 pm AEDST on Monday, 26 March 2001.

      The Company is not aware of any reason why the trading halt should
      not be granted.

      As previously announced, the Company has been undertaking lengthy
      negotiations and discussions with various potential investors and
      funding parties in respect of its proposed Ngezi/SMC Project. It is
      considered that price and volume fluctuations such as that reflected
      in recent trading figures result from speculation that a deal is
      imminent. At this stage the matter is incomplete and is
      insufficiently definite to warrant disclosure.

      The Company confirms that it is in compliance with ASX Listing Rules
      and, in particular, Listing Rule 3.1.

      J T Shaw
      CHAIRMAN



      RESPONSE TO ASX QUERY

      ZIMBABWE PLATINUM MINES LIMITED - PRICE QUERY

      Your fax of 21 March 2001 refers. In response to the questions that
      you have raised we comment as follows:

      QUESTION 1

      Zimplats is aware of information that has not been announced which
      may affect its share price if this information was in the public
      domain.

      QUESTION 2

      In the opinion of the Zimplats, an announcement in respect of this
      information cannot be made immediately, in view of the fact that it
      relates to a potential investment in the Company which is entirely
      conditional upon the approval of a foreign central bank. Such
      approval has not been obtained and therefore the investment has no
      certainty.

      It is expected that an announcement will be made on Monday, 26 March
      2001 by which time it is expected that the foreign central bank will
      have made a decision in respect of the proposed investment.

      QUESTION 3

      We know of no reason why the operating profit/loss will differ
      substantially from our projected figures.

      QUESTION 4

      In respect of the value of the assets held by Zimplats, a revaluation
      of all mining claims and assets is underway and given the political
      uncertainty in Zimbabwe at present, this exercise may result in the
      writing down of certain mining assets. When details of the evaluation
      are finalised, any material adjustments to our reflected valuations
      will be notified accordingly. However, this will not take place
      before the quarter ended 31 March 2001.

      QUESTION 5

      As mentioned previously Zimplats has been undertaking lengthy
      negotiations and discussions with various potential investors and
      funding parties in respect of its proposed Ngezi/SMC Project. It is
      considered that price and volume fluctuations such as those reflected
      in recent trading figures result from speculation that a deal is
      imminent. However, the matter is incomplete and insufficiently
      definite to enable disclosure (refer to Question 1).

      QUESTION 6

      Zimplats confirms that the Company is in compliance with the ASX
      Listing Rules, including Listing Rule 3.1.

      For further information contact:

      Roy Pitchford
      CHIEF EXECUTIVE OFFICER
      Zimplats
      Tel +263 4 746 858
      Fax +263 4 746 505
      Email roy.pitchford@zimplats.co.zw


      ASX QUERY

      PRICE QUERY

      We have noted a change in the price of the Company`s securities from
      a closing price of $0.98 on 14 March 2001 to a high of $1.40 today.
      We have also noted an increase in the volume of trading in the
      securities over this period.

      In light of the price change and increase in volume, please respond
      to each of the following questions.

      1. Is the Company aware of any information concerning it that has not
      been announced which, if known, could be an explanation for recent
      trading in the securities of the Company?

      2. If the answer to question 1 is yes, can an announcement be made
      immediately? If not, why not and when is it expected that an
      announcement will be made?

      Please note, if the answer to question 1 is yes and an announcement
      cannot be made immediately, you need to contact us to discuss this
      and you need to consider a trading halt (see below).

      3. Is there any reason to think that there may be a change in the
      operating profit/loss before abnormal items and income tax so that
      the figure for the quarter ended 31 March 2001 would vary from the
      previous half year by more than 15%? If so, please provide details.

      4. Is there any reason to think that the Company may record any
      material abnormal or extraordinary profits/losses for the quarter
      ended 31 March 2001? If so, please provide details.

      5. Is there any other explanation that the Company may have for the
      price change in the securities of the Company?

      6. Please confirm that the Company is in compliance with the listing
      rules and, in particular, listing rule 3.1.

      Your response should be sent to me on facsimile number (02) 92417620.
      It should not be sent to the Company Announcements Office.

      Unless the information is required immediately under listing rule
      3.1, a response is requested as soon as possible and, in any event,
      not later than the close of trading (ie 4:00 pm EDST) on Thursday, 22
      March 2001).

      The response must be in a form suitable for release to the market. If
      you have any concern about release of a response, please contact me
      immediately.

      LISTING RULE 3.1

      Listing rule 3.1 requires an entity to give ASX immediately any
      information concerning it that a reasonable person would expect to
      have a material effect on the price or value of the entity`s
      securities. The exceptions to this requirement are set out in the
      rule.

      In responding to this letter you should consult listing rule 3.1 and
      the guidance note titled "Continuous disclosure: listing rule 3.1".

      If the information requested by this letter is information required
      to be given to ASX under listing rule 3.1 your obligation is to
      disclose the information immediately.

      Your responsibility under listing rule 3.1 is not confined to, or
      necessarily satisfied by, answering the questions set out in this
      letter.

      TRADING HALT

      If you are unable to respond by the time requested, or if the answer
      to question 1 is yes and an announcement cannot be made immediately,
      you should consider a request for a trading halt in the Company`s
      securities. As set out in listing rule 17.1 and the guidance note
      titled "Trading halts" we may grant a trading halt at your request.
      We may require the request to be in writing. We are not required to
      act on your request. You must tell us each of the following.

      * The reasons for the trading halt.

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      * Any other information necessary to inform the, market about the
      trading halt, or that we ask for.

      The trading halt cannot extend past the commencement of normal
      trading on the second day after the day on which it is granted. If a
      trading halt is requested and granted and you are still unable to
      reply to this letter before the commencement of trading, suspension
      from quotation would normally be imposed by us from the commencement
      of trading if not previously requested by you. The same applies if
      you have requested a trading halt because you are unable to release
      information to the market, and are still unable to do so before the
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      If you have any queries regarding any of the above, please let me
      know.

      Sean Ward
      COMPANIES ADVISOR
      Direct Line: (02) 9227 0656
      Avatar
      schrieb am 26.03.01 08:41:12
      Beitrag Nr. 100 ()
      Na es koennte heiss werden,

      die Katze wird aus dem Sack gelassen.

      2001/03/26 16:12:41 ZIM Zimplats announces go-ahead on Ngezi Platinum Project (Part B)


      Erstes Bit bei 1,40 AD, die Aktie noch nicht freigegeben (Handel ausgesetzt).

      Mal sehen, was morgen passiert.

      MfG und Go
      Avatar
      schrieb am 26.03.01 09:07:25
      Beitrag Nr. 101 ()
      The winner is:

      Impala Platinum Holdings Limited (Implats),

      Na das kann ja noch heiter werden.
      Es zahlt sich manchmal doch aus an einem Investment festzuhalten.

      MfG


      ZIMBABWE PLATINUM MINES LIMITED 2001-03-26 ASX-SIGNAL-G

      HOMEX - Sydney

      +++++++++++++++++++++++++
      The Zimplats board of directors is pleased to announce the decision
      to proceed with the Ngezi opencast platinum-mining project on the
      Great Dyke in Zimbabwe. Equity participation in the Ngezi project by
      Impala Platinum Holdings Limited (Implats), and project debt funding
      by Absa Bank Limited (Absa), have been secured, subject to
      shareholder approval. The Government of Zimbabwe has given its full
      support to the project and has provided Zimplats with all the
      necessary approvals. The South African Reserve Bank has approved the
      investment and debt funding.

      Implats has agreed to acquire from Zimplats a 30 percent
      participation in the planned Ngezi opencast mine and the Hartley
      Platinum Joint Venture company for US$30 million. Absa has committed
      to project debt funding of up to US$30 million on commercially
      acceptable terms, including political risk insurance. Zimplats and
      Impala Refining Services (IRS) have also entered into an agreement
      whereby IRS will buy from Zimplats the smelter matte containing the
      platinum group metals, gold, nickel and copper which will be produced
      from the Ngezi opencast mine ore.

      In addition to the project-level participation and debt funding,
      Implats and, subject to certain regulatory requirements, Absa are
      together buying from Delta Gold Limited (Delta) 26,508,545 Zimplats
      shares, representing approximately 30 percent of Zimplats` issued
      capital. Implats and Absa will now become Zimplats` largest
      shareholders. Delta will retain approximately 21 percent of Zimplats.
      The balance of Zimplats` issued capital is owned by approximately
      2,750 individual shareholders. The Board of Directors is to be
      reconstituted to provide for one Director from each of Implats, Absa,
      and Delta, a Managing Director, and two Independent Directors, one of
      whom will be the Chairman. A further announcement will be made
      following the new Board appointments.

      In view of the significance to Zimplats and its shareholders of the
      positive developments announced today and because it has come to the
      attention of Zimplats` directors that protection for minorities may
      not exist in the event of an uninvited bid for Zimplats` shares, the
      directors will convene a meeting of shareholders as soon as possible
      to obtain shareholders` approval for the project equity investment
      and financing arrangements that have been entered into.

      The Ngezi opencast mine will produce 2.2 million tonnes of ore per
      year to produce 208 thousand ounces of platinum group metals in
      smelter matte from the Selous Metallurgical Complex at the Hartley
      Platinum minesite.

      Implats is the second-largest producer of platinum in the world, with
      current mine production of around 1,000,000 ounces per year and
      additional equity-accounted platinum production of 170,000 ounces
      from its partnering association with Kroondal, Aquarius and other
      platinum producers. Implats recently announced plans to increase
      annual platinum production to 1,500,000 ounces by 2005 from its own
      mines and from additional partnering associations such as the
      Zimplats - Implats association announced today.

      Absa is one of South Africa`s largest banks, with its primary
      business in the southern African region. Absa is already established
      with banking and other commercial activities in Zimbabwe.

      Mr Roy Pitchford, Zimplats` Managing Director, said:

      "Today`s announcement of the Ngezi Project go-ahead is a very
      positive and exciting event in the history of Zimplats. We will now
      proceed immediately with the construction of the Ngezi project,
      aiming to achieve our first sale of platinum group metals from Ngezi
      within 12 months. I am particularly pleased at Zimplats` achievement
      in securing Implats as a 30 percent participant in the Ngezi project,
      given Implats` track record as a leading platinum group metal
      producer over the last 30 years and also because of the way in which
      Implats is establishing non-dominating mining partnerships. I and my
      management look forward to the technical expertise and operational
      experience that Implats is bringing to Zimplats in the Ngezi project.

      I am also pleased that Zimplats has secured the project debt finance
      from a leading southern African banking group of the calibre of Absa.
      Impala and Absa are both very highly regarded in their respective
      activities and they are demonstrating their commitment to support
      Zimplats in becoming an important new and independent producer of
      platinum group metals, based on the world`s second-largest resource
      of these metals, 100 percent owned by Zimplats. I also record the
      strong support and co-operation that I and my management have
      encountered at all levels in our dealings with the Government of
      Zimbabwe in bringing these transactions to a successful conclusion."


      FOR FURTHER INFORMATION CONTACT:

      Mr Roy Pitchford,
      Chief Executive Officer,
      Zimbabwe Platinum Mines Limited
      Tel: +263 4 746 858
      Fax: +263 4 746 505
      Email: roy.pitchford@zimplats.co.zw

      Mr Dave Geddes
      Orient Capital Limited
      Tel: +612 9964 0200
      Fax: +612 9964 0272
      Email: geddes@orientcap.com

      Mr Ron Marshman
      City of London PR Limited
      Tel: +4420 7628 5518
      Fax: +4420 7628 8555
      Email: ron@mining-investor.com


      MORE TO FOLLOW
      Avatar
      schrieb am 26.03.01 09:11:53
      Beitrag Nr. 102 ()
      The winner is:

      Impala Platinum Holdings Limited (Implats),

      Na das kann ja noch heiter werden.
      Es zahlt sich manchmal doch aus an einem Investment festzuhalten.

      Na Manfred, da haettest Du einmal in deinem Leben einen 1000%er im Depot und gibst dich mit 100% zufrieden. HaHa

      Viel Spass mit deinen Jumbos und My Casinos. HaHa

      MfG


      ZIMBABWE PLATINUM MINES LIMITED 2001-03-26 ASX-SIGNAL-G

      HOMEX - Sydney

      +++++++++++++++++++++++++
      The Zimplats board of directors is pleased to announce the decision
      to proceed with the Ngezi opencast platinum-mining project on the
      Great Dyke in Zimbabwe. Equity participation in the Ngezi project by
      Impala Platinum Holdings Limited (Implats), and project debt funding
      by Absa Bank Limited (Absa), have been secured, subject to
      shareholder approval. The Government of Zimbabwe has given its full
      support to the project and has provided Zimplats with all the
      necessary approvals. The South African Reserve Bank has approved the
      investment and debt funding.

      Implats has agreed to acquire from Zimplats a 30 percent
      participation in the planned Ngezi opencast mine and the Hartley
      Platinum Joint Venture company for US$30 million. Absa has committed
      to project debt funding of up to US$30 million on commercially
      acceptable terms, including political risk insurance. Zimplats and
      Impala Refining Services (IRS) have also entered into an agreement
      whereby IRS will buy from Zimplats the smelter matte containing the
      platinum group metals, gold, nickel and copper which will be produced
      from the Ngezi opencast mine ore.

      In addition to the project-level participation and debt funding,
      Implats and, subject to certain regulatory requirements, Absa are
      together buying from Delta Gold Limited (Delta) 26,508,545 Zimplats
      shares, representing approximately 30 percent of Zimplats` issued
      capital. Implats and Absa will now become Zimplats` largest
      shareholders. Delta will retain approximately 21 percent of Zimplats.
      The balance of Zimplats` issued capital is owned by approximately
      2,750 individual shareholders. The Board of Directors is to be
      reconstituted to provide for one Director from each of Implats, Absa,
      and Delta, a Managing Director, and two Independent Directors, one of
      whom will be the Chairman. A further announcement will be made
      following the new Board appointments.

      In view of the significance to Zimplats and its shareholders of the
      positive developments announced today and because it has come to the
      attention of Zimplats` directors that protection for minorities may
      not exist in the event of an uninvited bid for Zimplats` shares, the
      directors will convene a meeting of shareholders as soon as possible
      to obtain shareholders` approval for the project equity investment
      and financing arrangements that have been entered into.

      The Ngezi opencast mine will produce 2.2 million tonnes of ore per
      year to produce 208 thousand ounces of platinum group metals in
      smelter matte from the Selous Metallurgical Complex at the Hartley
      Platinum minesite.

      Implats is the second-largest producer of platinum in the world, with
      current mine production of around 1,000,000 ounces per year and
      additional equity-accounted platinum production of 170,000 ounces
      from its partnering association with Kroondal, Aquarius and other
      platinum producers. Implats recently announced plans to increase
      annual platinum production to 1,500,000 ounces by 2005 from its own
      mines and from additional partnering associations such as the
      Zimplats - Implats association announced today.

      Absa is one of South Africa`s largest banks, with its primary
      business in the southern African region. Absa is already established
      with banking and other commercial activities in Zimbabwe.

      Mr Roy Pitchford, Zimplats` Managing Director, said:

      "Today`s announcement of the Ngezi Project go-ahead is a very
      positive and exciting event in the history of Zimplats. We will now
      proceed immediately with the construction of the Ngezi project,
      aiming to achieve our first sale of platinum group metals from Ngezi
      within 12 months. I am particularly pleased at Zimplats` achievement
      in securing Implats as a 30 percent participant in the Ngezi project,
      given Implats` track record as a leading platinum group metal
      producer over the last 30 years and also because of the way in which
      Implats is establishing non-dominating mining partnerships. I and my
      management look forward to the technical expertise and operational
      experience that Implats is bringing to Zimplats in the Ngezi project.

      I am also pleased that Zimplats has secured the project debt finance
      from a leading southern African banking group of the calibre of Absa.
      Impala and Absa are both very highly regarded in their respective
      activities and they are demonstrating their commitment to support
      Zimplats in becoming an important new and independent producer of
      platinum group metals, based on the world`s second-largest resource
      of these metals, 100 percent owned by Zimplats. I also record the
      strong support and co-operation that I and my management have
      encountered at all levels in our dealings with the Government of
      Zimbabwe in bringing these transactions to a successful conclusion."


      FOR FURTHER INFORMATION CONTACT:

      Mr Roy Pitchford,
      Chief Executive Officer,
      Zimbabwe Platinum Mines Limited
      Tel: +263 4 746 858
      Fax: +263 4 746 505
      Email: roy.pitchford@zimplats.co.zw

      Mr Dave Geddes
      Orient Capital Limited
      Tel: +612 9964 0200
      Fax: +612 9964 0272
      Email: geddes@orientcap.com

      Mr Ron Marshman
      City of London PR Limited
      Tel: +4420 7628 5518
      Fax: +4420 7628 8555
      Email: ron@mining-investor.com


      MORE TO FOLLOW
      Avatar
      schrieb am 26.03.01 09:53:16
      Beitrag Nr. 103 ()
      Mining News
      Mon, 26 Mar 2001, 4:52pm EST
      Impala to Pay 371 Mln Rand for Zimbabwe Platinum Stake, Mines
      By Antony Sguazzin


      Johannesburg, March 26 (Bloomberg) -- Impala Platinum Holdings Ltd., the No. 2 platinum producer, said it agreed to pay 371 million rand ($47 million) for a 30 percent stake in Zimbabwe Platinum Mines Ltd. and interests in a planned mine.

      Impala agreed to pay Delta Gold Ltd. 131 million rand for a 30 percent stake in Australia-based Zimbabwe Platinum and 240 million rand for a 30 percent interest in the planned Ngezi mine and the Hartley Platinum joint venture company, which has the rights to an idled mine and processing plant. Impala also agreed to refine the output of Ngezi.

      The transaction, if approved by Zimbabwe Platinum shareholders, will be one the biggest foreign investments in Zimbabwe since BHP Ltd. and Delta Gold spent $550 million on Hartley in 1996. It is also Impala`s first investment in a mine outside South Africa.
      Avatar
      schrieb am 26.03.01 11:25:28
      Beitrag Nr. 104 ()
      MKP von Zimplats bei Kurs 1.29 A$ ist ca. 120 Mio.A$.
      Ngezi-Bruttogewinn im Bereich von 100 Mio. A$, nach Steuern 80 Mio. A$, davon 70% für ZIM sind 55 Mio. A$ oder 0,6 A$ pro Aktie.
      KGV wäre damit (bei konstanten PGM-Preisen) ca. 2,2 und entsprechend höher, wenn man die maximal 15%ige Aktienausgabe an einheimische Investoren berücksichtigt.

      Wo seht ihr den Kurs von ZIM kurzfristig?
      Ich glaube, mehr als 1.5-1.7 A$ sind die nächsten Monate nicht drin, da der Markt eher sinkende PGM-Preise erwartet.

      Nur bei einer erneuten PGM-Rally (Pd 1000$, eher unwahrscheinlich) erwarte ich ca. 2 A$.

      Erst wenn ZIM und Impala zeigen, daß Ngezi wie geplant arbeitet, und wenn Produktionssteigerungen in Aussicht gestellt werden, kann ich weiteres Kurspotential ausmachen.
      Avatar
      schrieb am 26.03.01 13:24:16
      Beitrag Nr. 105 ()
      Monday 26 March 6:11 PM



      Zimplats says Ngezi expansion likely
      MELBOURNE, March 26 (Reuters) - Zimbabwe Platinum Mines Ltd (Zimplats) director Peter Vanderspuy said on Monday he expected the 2002 start-up of the US$50 million Ngezi platinum project in Zimbabwe to pave the way for a second stage doubling of output.
      Zimplats said earlier on Monday development of the Ngezi open cast mine at the southern end of the Great Dyke ore body in Zimbabwe would proceed, with the project scheduled to produce 2.2 million tonnes of ore a year from early 2002.

      The ore will be trucked 77 km to the Selous Metallurgical Complex at the Hartley mine site, which Zimplats bought from BHP Ltd. Annual production is forecast at 208,000 ounces of platinum group metals.

      Vanderspuy told a media briefing that early smooth operation of the Ngezi project would allow a cost-benefit study to be completed during the first 24 months after commissioning on a likely expansion of production from the ore body.

      "By the end of the third year of operation the project could be going at double the initial start-up rate," he said.

      The timing for first output from Ngezi depends on completing a road between the mine and Selous. Work is expected to start next month and take nine months.

      Zimplats said the $50 million cost of the Ngezi project will be funded through Impala Platinum Holdings Ltd (Implats) taking $30 million equity in the project, with the remainder met by debt funding from South Africa`s ABSA Bank Ltd.

      Implats and ABSA said on Monday they had also paid A$33.1 million to take a 30 percent stake in Zimplats from Delta Gold Ltd, which will continue to hold a 21 percent interest in Zimplats

      Delta gold chief executive officer Terry Burgess said the company`s 21 percent stake would give it the opportunity to participate in the future upside of Zimplats.

      "Implats is the logical partner for Zimplats on Ngezi and with the involvement of ABSA there should be adequate financing for the project," he said in a statement.

      Delta will retain one seat on the Zimplats board

      Vanderspuy said the feasibility study for the Ngezi project assumed a post tax internal rate of return of 78 percent with an average margin of $10 a tonne based on conservative metals price estimates.

      "Platinum metal prices would have to fall an awful long way and stay down for this project to be brought to its knees. It is a very robust project," he said.

      Vanderspuy said the financing included political risk insurance, but he noted the project had political and community support.

      "Security of tenure in the mining industry of Zimbabwe is an sacrosanct as it has always been," he said. (c) Reuters Limited 2001

      REUTER NEWS SERVICE
      Avatar
      schrieb am 26.03.01 14:34:33
      Beitrag Nr. 106 ()
      gholzbauer,

      Wie bitte kommst du auf 100 Mio AD Bruttogewinn.

      Mach doch bitte einmal ne kurze Aufstellung.

      Danke und viele Gruesse
      Avatar
      schrieb am 26.03.01 15:36:19
      Beitrag Nr. 107 ()
      Siehe Berechnung vom 31.8.2000
      Rh, Ni, Au sind jetzt zwar niedriger, Pd dafür deutlich höher. Leider wurden die Produktionsschätzungen für Pt von 120000 oz auf 98000 oz zurückgenommen, teilweise ist auch von 92000 oz Pt die Rede.
      Der Australdollar hat dagegen auf 2 A$/US$ verloren, so daß der Gewinn in A$ wieder höher wird.


      Produktionszahlen laut 21.12.2000.

      Gesamterlös p.a.: 98.000x580$(Pt) + 82.000x770$(Pd) + 8000x2000$(Rh) + 12.000x270$(Au) + 1300x6200$(Ni) + 1000x1700$(Cu) = 149.000.000$. Davon (analog der ursprünglichen Rechnung) 3/4 sind 112 Mio. $. Das bedeutet 112 Mio. $ Erlös / 2,2 Mio. Tonnen = 50,8$ Erlös pro Tonne
      50,8$ Erlös abzüglich 26,8$ Kosten pro Tonne= 24 $ Gewinnspanne pro Tonne.
      24$ pro Tonne x 2,2Mio.t = 52,8Mio. US$ = 105 Mio. A$.

      Wegen der hohen Treibstoffpreise, der Finanzierungskosten von 20 Mio. A$ durch die ABSA und der allgemeinen Kosten (corp. overhead) werden es sogar vermutlich noch deutlich weniger als 100 Mio. A$.
      Wenn die ursprünglich angestrebten 120000 oz Pt pro Jahr erreicht werden sollten, würde die Rechnung besser aussehen.
      Avatar
      schrieb am 26.03.01 15:44:26
      Beitrag Nr. 108 ()
      Da fällt mir ein: durch den bisherigen Verlustvortrag sollte ZIM auf mehrere Jahre keine Steuern zahlen müssen, oder? Dann wäre der Gewinn pro Aktie vorerst höher.
      Avatar
      schrieb am 26.03.01 16:15:06
      Beitrag Nr. 109 ()
      @ gholzbauer

      Bei deiner Berechnung hast du noch ein paar Kleinigkeiten vergessen und zwar
      140 T Cobald und ebenso sind noch 4 Mio. US$ sonstige Rohstoffe angegeben.

      Wiso ziehst du ¼ ab ??? „Davon (analog der ursprünglichen Rechnung) 3/4 sind..."

      Deine MKP betraegt ca. 120 MioA$ bei einem Kurs von 1,29A$.

      Ich errechne bei 88,3 Mio Aktien eine MKP von ca. 114 A$.

      Pro Tonne Erdreich komme ich auf einen Wert von 70,9 US$ bei 100% Rueckgewinnung.

      Die Kosten liegen bei meiner Rechnung bei 26,80 US$.

      Dann waehre der Gewinn 196 Mio A$ pro Jahr und das KGV bei 0,58.

      Viel Spass beim nachrechnen.
      Avatar
      schrieb am 26.03.01 17:30:36
      Beitrag Nr. 110 ()
      Preis von Kobalt(kathoden) zur Zeit 13US$/lb = ca. 4 Mio. US$ für 140 t.

      Die "3/4" habe ich benutzt, weil Zimplats in der ursprünglichen Durchführbarkeitsstudie (s. mein Posting vom 31.8.2000) einen Erlös von 33.84$ pro Tonne Erz benutzt hat("indicative terms for the sale of smelter matte"), während der Metallwert nach meiner Rechnung 44$ pro verarbeiteter Tonne betragen hätte.
      Die Differenz von ca. 25% muß den Weiterverarbeitungskosten vom Konzentrat/"smelter matte" zum raffinierten Metall entsprechen. Da diese Kosten zum größten Teil nicht von den Metallpreisen abhängig sind (abgesehen von den Kosten der Kapitalbindung), sollte ich besser die absolute Differenz 44$-33.84$= 10$ pro Tonne verwenden anstatt einen Faktor von 33.84/44 bzw. 3/4.
      Die genannten Kosten von 26.77$/t beziehen sich meiner Meinung nach nur auf die Verarbeitung vom Erz zu smelter matte, so daß die Preisdifferenz zwischen smelter matte und Endverkaufspreis (10$/t) noch zusätzlich vom Metallwert abzuziehen ist.


      98.000x580$(Pt) + 82.000x770$(Pd) + 8000x2000$(Rh) + 12.000x270$(Au) + 1300x6200$(Ni) + 1000x1700$(Cu) + 4Mio.$(Co und Sonstiges)= 153.000.000$. Das bedeutet 153 Mio. $ Erlös / 2,2 Mio. Tonnen = 69,5$ Erlös pro Tonne
      69,5$ Erlös abzüglich 10$ ("indicative terms...") abzüglich 26,8$ Kosten pro Tonne= 32,7 $ Gewinnspanne pro Tonne.
      32,7$ pro Tonne x 2,2Mio.t = 72Mio. US$ = 145 Mio. A$.

      140Mio.A$ x 0.7 = 98 Mio. A$ Gewinn für ZIM
      42 Mio. A$ für Implats (bei 30 Mio. US$ Investition!)
      88.3 Mio. Aktien x 1.29 A$ = 114 Mio. A$ MKP
      114 Mio. A$ MKP : 98 Mio. A$ Gewinn = KGV 1.2
      (ohne Steuern, overhead und Finanzierungskosten der 20 Mio. A$ von der ABSA)

      Das sähe tatsächlich erheblich besser aus als von mir errechnet, vor allem aufgrund der reduzierten Schätzung der Raffinierungskosten.

      Knackpunkt bleibt natürlich das langfristige PGM-Preisniveau.
      Avatar
      schrieb am 26.03.01 18:09:58
      Beitrag Nr. 111 ()
      Monday, March 26 7:30 PM SGT

      Impala to Buy Stake in Australia`s Zimplats
      MELBOURNE, March 26 Asia Pulse - Impala Platinum Holdings Ltd, the world`s second largest platinum producer, has agreed to purchase a stake in Australia`s Zimbabwe Platinum Mines Ltd (ASX:ZIM) and acquire an interest in its planned Ngezi mine.
      Zimbabwe Platinum Mines (Zimplats) said today it would proceed with the Ngezi opencast platinum mining project in Zimbabwe with the mine to initially yield 2.2 million tonnes of ore a year.

      The company has secured partners in major platinum producer Impala Platinum Holdings Ltd (Implats) and South African bank ABSA which have agreed to acquire a 30 per cent stake in Zimplats for about $A31 million ($US15.42 million).

      The two are acquiring the stake from Zimplats` major shareholder Delta Gold Ltd for $1.25 a share, delivering $33.1 million to Delta.

      That leaves Sydney-based Delta Gold with a 21 per cent stake in the company, which Implats and Absa have been granted first right of refusal over.

      Implats also will take a stake in the Ngezi open cast mine and the Hartley Platinum joint venture company, which has the rights to the mine and a processing plant

      Implats` refining and marketing subsidiary Impala Refining Services (IRS) has also agreed to buy from Zimplats the smelter matte containing the platinum group metals, gold, nickel and copper which will be produced from the Ngezi mine ore.

      Before mining at Ngezi can begin however, a 77km long road, costing $34 million, from the mine in Zimbabwe`s south to the Selous metallurgical complex in the north, has to be built.

      Zimplats director Peter Vanderspuy said work would begin on April 2, and barring unforeseen circumstances such as an early start to the wet season, it was expected to be completed by December.

      Mr Vanderspuy said Zimplats acquired the $250 million Selous refinery, "with all its belt and braces", from BHP Ltd in January for $50 million.

      "The plant that BHP built is virtually brand new, hardly run in. It really is a Rolls Royce plant," Mr Vanderspuy said.

      He said the Zimbabwean government had strongly supported the Ngezi project and had enacted legal framework to facilitate it.

      "The government has acted very responsibly in negotiating with the mining industry to achieve a fiscal regime that will attract investment into the Zimbabwe mining industry," Mr Vanderspuy said.

      "In my view there is no likelihood that the project will be affected (by political unrest).

      "It is too important to the country as a revenue earner, as an employer and as a bellweather, or imprimatur, of good health for the country from an investment point of view."

      Delta Gold chief executive officer Terry Burgess said that Delta`s directors had determined that the company should divest its shareholding in Zimplats at an apropriate time.

      Under this arrangement, Delta had the opportunity to participate in the future upside of Zimplats and platinum group metals, he said.

      The Ngezi opencast mine will produce 2.2 million tonnes of ore a year to produce 208 thousand ounces of platinum gold metals in smelter matte.

      Zimplats managing director Roy Pitchford said the Ngezi project go ahead was exciting and the company would aim to achieve its first sale of platinum group metals from Ngezi within 12 months.

      The Zimplats board of directors will be reconstituted to provide for one director from each of Implats, Absa and Delta Gold, a managing director and two independent directors, one of whom will be chairman.

      Zimplats will convene a shareholder meeting to seek approval for the project equity investment and financing arrangements.

      Shares in Zimplats have been halted pending today`s announcement. They last traded at $1.29.

      ASIA PULSE
      Avatar
      schrieb am 26.03.01 18:19:22
      Beitrag Nr. 112 ()
      Mining News
      Tue, 27 Mar 2001, 1:52am EST
      Impala to Pay 371 Million Rand for Zimplats Stake (Update2)
      By Antony Sguazzin


      Johannesburg, March 26 (Bloomberg) -- Impala Platinum Holdings Ltd., the No. 2 platinum producer, agreed to invest 371 million rand ($47 million) in a partnership with Zimbabwe Platinum Mines Ltd., expecting that Zimbabwe will overcome its political and economic crisis.

      Impala, backed by South African bank Absa Group Ltd., will spend 131 million rand to buy 30 percent of Zimbabwe Platinum`s shares from Australia`s Delta Gold Ltd. It will pay 240 million rand more for a 30 percent share of Zimplats` dormant Hartley Platinum complex and a planned mine at Ngezi, Zimbabwe.

      The purchase is Zimbabwe`s largest foreign investment since 1996. Analysts said Zimplats, which owns the rights to most of Zimbabwe`s platinum but currently produces nothing, can ensure supply to Impala`s underutilized refinery outside Johannesburg.

      ``At most it`s an investment in a country with a temporary risk,`` said Justin Pearson-Taylor, an analyst at Standard Equities in Johannesburg. Impala has ``paid a very reasonable price.``

      Impala said Robert Mugabe`s government, which is grappling with a 58 percent annual inflation rate and fuel shortages driven by a lack of hard currency, guaranteed the safety of its investment in Zimplats.

      ``You`ve got to go where the ore is,`` said Cathie Markus, Impala`s director of corporate affairs. ``We`ve found mining to be particularly encouraged`` in Zimbabwe.

      Impala, which earned $278 million in profit last year on $769 million in revenue, has limited scope for expansion in South Africa, because rivals such as Anglo American Platinum Corp. hold the rights to most platinum deposits.

      Large Reserves

      Zimplats estimates its reserves of platinum group metals at 165 million ounces, worth at least $95 billion at current prices. Delta Gold founded the company as a vehicle for its interests in Zimbabwe platinum deposits, including the Hartley mine and processing complex. Australian miner BHP Ltd. sold its two-thirds share in Hartley to Zimplats for $1 last December, after pouring $550 million into a mine that led to persistent losses.

      Impala`s expertise and refining capacity will enable Zimplats to start exploiting its reserves, the companies said. The first project is planned for Ngezi. Impala and Absa will spend $30 million each there building a mine that is expected to produce 92,000 ounces of platinum and 85,000 ounces of palladium annually, starting next year.

      Zimplats has said it could double this output within four years, and triple it shortly afterwards. Delta Gold will retain 21 percent of Zimplats.

      The Ngezi complex would be Impala`s first mine outside South Africa. The company already refines the output of Zimasco Ltd.`s Mimosa facility, Zimbabwe`s only operating platinum mine.

      Turbulent Times

      Impala`s announcement comes as Zimbabwe`s government pushes through plans to seize 60 percent of the country`s commercial farmland without paying for it.

      Analyst Pearson-Taylor said the country`s platinum lode will attract mining companies anyway.

      ``There are going to be a lot of companies looking at Zimbabwe over the next five years,`` he said.

      Impala shares rose 6 rand, or 1.8 percent, to 335 rand in Johannesburg. Delta Gold rose 1 Australian cent to A$1.27 in Sydney, while trade in Zimplats` stock was suspended.
      Avatar
      schrieb am 27.03.01 07:13:13
      Beitrag Nr. 113 ()
      Implats broadens its platinum reach

      --------------------------------------------------------------------------------
      Local miner beat off opposition to acquire share in Zimplats
      IMPALA Platinum has broadened its platinum reach by investing in Zimbabwe Platinum Mines (Zimplats), Zimbabwe`s biggest platinum company.

      Impala beat a number of candidates, including Lonmin, the world`s third-largest producer of platinum, to acquire the stake.

      Impala took a direct stake in Zimplats with Absa Bank by acquiring a 30% equity stake in Australian Stock Exchange-listed Zimplats from Delta Gold Limited for R131m.

      Delta Gold retains an interest of 21% in the company. The balance of Zimplats` shares are held by minorities, while Implats said that it had no intention of increasing its share in Zimplats.

      Impala has also spent R240m on an interest of 30% in Zimplats`s Ngezi open-cast mine and the Hartley Platinum Joint Venture. Zimplats in turn has entered into an agreement with Impala`s subsidiary, Impala Refining Services, the refining and marketing arm of SA`s second biggest platinum producer.

      Impala says peak funding required to bring the project into production is estimated at R400m, which will be funded by Implats`s contribution to the project and by debt funding to be provided by Absa. It is expected that the project will be brought into production as early as 2002, said Impala.

      Zimplats said last year that the breakdown of the project finance would be about $16m for capital costs, $17m for road upgrades, $4m for working capital and $10m to turn the project`s operating deficit into a positive cash flow.

      Zimplats became the major shareholder in a large number of projects along Zimbabwe`s Great Dyke geological region, after it acquired BHP and Delta Gold`s mining assets to form Zimplats. The company then proceeded with a complete overhaul of the mining plan, which included moving away from an underground mine BHP`s ultimate downfall to an opencast operation.

      One analyst said that BHP went about the move into platinum in a foreign country in completely the wrong way.

      The analyst said the biggest mistake was that the company agreed to include a certain quota of local labour an agreement the company could not keep to as more and more expatriates were seconded to the mine.

      The geology is also vastly different from that of SA`s bushveld igneous complex, which made underground mining a more complex task.

      The feasibility study undertaken indicates that the mine should produce about 100000oz of platinum over a lifespan of 20 years, although the greater part of the Great Dyke region under the control of Zimplats was still to be explored.

      At the time BHP made it investment in Zimbabwe, the company installed state-of-the-art smelting and concentrating facilities at the Selous metallurgical complex. The infrastructure in place will be used and the concentrate matte will be transported to Impala Refining Services.

      Impala says that the fuel crisis in Zimbabwe should not effect operations as Zimplats has the right to import fuel directly to the mine.

      Analysts have broadly welcomed the acquisition, saying that "while it is not a dripping roast" it is a step in the right direction and the downside is limited to the investment that Impala will make, while some of the risk is covered due to Absa taking on some of the project finance responsibilities.

      The alliance with Zimplats will ensure that Impala meets its own target of ramping up production from 1-million ounces to 1,5-million ounces in the next five years, which it plans to do through organic growth and through strategic alliances.

      Impala closed 600c higher on the JSE Securities Exchange SA at R335 a share.


      Mar 27 2001 12:00:00:000AM Ilja Graulich Business Day 1st Edition
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      schrieb am 27.03.01 14:02:41
      Beitrag Nr. 114 ()
      (http://m1.mny.co.za/BusToday.nsf/Current/C2256906002F5211C22…

      John Smithies: CE, Impala Platinum

      By: Alec Hogg
      Posted: 03/26/2001 09:00:00 PM | © Moneyweb 1997-2001


      MONEYWEB: John Smithies, chief executive of Impala Platinum, joins us now. You must be one of the most popular people in Zimbabwe, John. Everybody else wants to pull out of the country and today you made an announcement of a substantial investment, first of all into the Ngezi open-cast mine, for R240m. You`re also buying a whole bunch of Zimplats - I suppose nearly R350m that you`re going to be putting into this company. Why are you going north of our borders, when everybody else seems to want to get out?
      JOHN SMITHIES: Well, Alec, I don`t think everybody else wants to get out because we had the beat off our competitors and several gold mining companies in order to do the deal. However, we are a mining company and we must go where the ore bodies are, and the Great Dyke is certainly second only to the Bushveld.

      MONEYWEB: Tell us about this Great Dyke which, I see from your official statement, runs through the centre of Zimbabwe.

      JOHN SMITHIES: From north to south, and it is quite rich in platinum group metals. Obviously, there`s chrome mine and gold mines attached to it as well, but we`re there for the PGMs.

      MONEYWEB: You say it`s second only to the Bushveld Complex in South Africa. Does that mean that potentially Zimbabwe could be a major producer of platinum?

      JOHN SMITHIES: Oh yes, people have had that dream for a long time. We`re happy that you can mine there, we`ve do business with a little mine Mimosa, at the south of the Dyke. They`ve been operating very successfully for a couple of years.

      MONEYWEB: How much platinum is there, then - how much exploitable platinum is available in Zimbabwe?

      JOHN SMITHIES: It`s some huge number, something in the region of 30m ounces of PGM.

      MONEYWEB: You are moving in there through, as you say, another step with Ngezi, the open-cast mine. The cost of getting it to production is about R400m, you`re putting in R240m, but you`ve also got Absa coming along for the ride?

      JOHN SMITHIES: Yes, we have indeed, and they are going to debt finance the rest of that project.

      MONEYWEB: Have they much experience in funding platinum mines?

      JOHN SMITHIES: I`m afraid you`ll have to ask them. They`re quite happy to come with us, though, so I think our name helped do the deal, but they`re not afraid of the prospects ahead of them.

      MONEYWEB: You haven`t worked with them on a project like this, though?

      JOHN SMITHIES: No.

      MONEYWEB: It`s also interesting that Absa is now going to be buying shares in Zimplat, which is the owner of the project that you`re talking about, and also listed in Australia. Now why is it listed in Australia?

      JOHN SMITHIES: Delta Gold is the company we`re buying the shares off and, as the name says, they are really a gold mining company based in Australia, and we`re just taking some of their stock from them.

      MONEYWEB: You seem to be doing quite a lot of deals with Australian companies recently. Other juniors that you`ve been talking with?

      JOHN SMITHIES: Well, as you know, we`re quite tied up with Aquarius, who do Kroondal and in the future will do Marikana, and we actually talked to a third Australian company, and that`s purely on a technology basis.

      MONEYWEB: John, you mention here that you`ve had overwhelmingly positive response from the Zimbabwean government. Did you also talk to the Zimbabwean opposition, given the political situation in that country?

      JOHN SMITHIES: We didn`t personally but, obviously, with our contacts with Mimosa, which is one of the Zimasco companies, they`ve had a lot to do with both government and opposition, and one thing that they have in common is they are both keen to revive the mining industry in their country.

      MONEYWEB: Do you have any guarantees that this will, in fact, go ahead? I guess there are some farmers in Zimbabwe who think that you`re not doing the wisest thing here.

      JOHN SMITHIES: We have country risk project insurance, but we`re very confidence again with our experience in Mimosa that it will go ahead. It`s open-cast, very simple - so yes, we`re confident.

      MONEYWEB: You have the right, both yourself and Absa, to put a director onto the Zimplat board Are you going to be involved yourself in management, because clearly at 30% you`re going to be the biggest shareholder now?

      JOHN SMITHIES: Yes 30%, but not management. No, we think the Zimbabweans are going to be better at managing a Zimbabwean property, so we will just have board representation and give advice where we feel we can.

      MONEYWEB: And with this new mine you say that a deal has been done with your Impala Refining Services. Now how do you actually transport the platinum ore that needs to be processed to South Africa?

      JOHN SMITHIES: No, we don`t transport the ore. That Ngezi project will use the Hartley concentrator initially, and then we will transport concentrate, and all being well a bit later it will also use the Hartley smelter and then we would just transport [the product]. At the moment Mimosa transports their concentrate to us, so it`s perfectly feasible and perfectly profitable.

      MONEYWEB: John Smithies, chief executive of Impala Platinum, moving into Zimbabwe. As he says, he`s confident that that country is quite happy as far as mining projects are concerned.
      Avatar
      schrieb am 27.03.01 20:09:20
      Beitrag Nr. 115 ()
      DJ S Africa`s Impala Gets Cautious Nod Over Zimbabwe Invest



      JOHANNESBURG (Dow Jones)--Mining analysts in South Africa are cautiously optimistic about Impala Platinum Ltd. (O.IMP) spreading northwards into Zimbabwe, a country at the bottom of most foreign investors` shopping lists.

      The company, the world`s second largest platinum producer, announced Monday that it will invest around 370 million rand ($1=ZAR7.9500) to acquire 30% of Zimbabwe`s leading platinum producer, Zimbabwe Platinum Mines Ltd., a 30% stake in an open cast platinum mine and a further 30% in the defunct Hartley Platinum Joint Venture.

      ABSA Ltd. (O.ASA), one of South Africa largest banking groups, is also involved in the transaction, which has provided a welcome boost for Zimbabwe`s depressed mining industry.

      "This appears to be a better structured deal than those that have gone before in Zimbabwe`s attempts to become a (substantial) platinum producer," said Rene Hochreiter, platinum analyst at Barnard Jacobs Mellett Securities.

      Australian mining giant Broken Hill Proprietary Ltd. suffered looses of more than $100 million when it made a foray into Zimbabwe`s fledgling platinum sector in the 1990s.

      "The difference is that BHP and others tried to develop a difficult underground operation. The initial focus this time appears to be on a much less problematic open pit operation," said Hochreiter.

      The first platinum from Impala`s expansion into Zimbabwe is scheduled to come from the Ngezi project, earmarked to produce around 92,000 ounces of platinum and 85,000 ounces of palladium annually.

      Guarantees from the Zimbabwean government have given analysts like Hochreiter some peace of mind.

      But many commentators are concerned about what they see as a flagrant disregard for the rule of law by Robert Mugabe`s government, leading to some skepticism about the deal.

      But with much of Zimbabwe`s estimated 165 million ounces of platinum ore reserves untapped, the business prospects appear to outweigh possible political risks.

      Analysts said the deal could help the company ramp its annual platinum production to over 1.5 million ounces over the next five years from the current level of around one million ounces.

      "The big advantage in this deal is that Impala is a master at smelting and refining platinum group metals. It`s one thing getting ore out of the ground, it`s another doing something with it," said Ross Gardiner, a mining analyst at Standard Equities Ltd.

      He forecasts more practical problems for Impala and its partners, such as getting diesel to the mine and accessing equipment.

      Zimbabwe limps from one fuel crisis to another and its foreign exchange coffers are all but empty.

      But unlike the country`s floundering gold sector, Impala and Zimbabwe Platinum Mines have been assured they will have adequate access to the foreign currency they generate to keep their operations going.

      Some gold mines have closed this year after having their foreign currency allocations cut to just 20% of their dollar-based income.

      -By Angus Macmillan, Dow Jones Newswires; 27-11-462-3190; angusmac@netactive.co.za

      (END) Dow Jones Newswires 27-03-01

      1532GMT Copyright (c) 2001 , Dow Jones & Company Inc~200103271532
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      schrieb am 29.03.01 01:37:48
      Beitrag Nr. 116 ()
      Two Mining Companies Suspend Operations

      --------------------------------------------------------------------------------

      Story Filed: Tuesday, March 27, 2001 11:20 AM EST

      Harare, Mar 27, 2001 (The Insider/All Africa Global Media via COMTEX)-- Zimbabwe, already reeling from an economic crisis and no prospects of any bailout, has suffered another major blow following the suspension of operations by two large mining concerns.

      One of the oldest gold producers, Falcon Gold has shut down all its operations because it can no longer sustain the losses. Anglo-American-owned Zimbabwe Alloys has suspended production of low-carbon ferrochrome for at least two-months because of low world prices. Gold is the country s second largest foreign currency earner after tobacco.

      Falcon managing director Andrew Beattie said the closure of Falcon, which produced 1.1 tonnes of gold last year was the start of closures of all big gold mining groups.

      Other major gold mining groups are Rio Tinto and Ashanti. Gold production has fallen from 28 tonnes in 1999 to 22 tonnes last year and is expected to fall to 18 tonnes this year. Falcon has laid off most of its 1000 workers.

      Beattie cited the fixed exchange rate and the government s refusal to allow gold mines to retain more than 20 percent of the hard currency gold earned as some of the reasons for the suspension of operations. He also said to obtain mining essential supplies they had to buy the US dollar at around $95, yet they were paid for their gold exports at the official rate of $55 to the US dollar. We obviously cannot survive under these circumstances. Unfortunately that will mean one thousand workers on the street, and about ten thousand mouths that won t be fed. It s a terrible, terrible thing, he said.

      In its weekly commentary Sagit said: With international gold prices remaining low, whilst inflation continues to rise, Falgold can no longer sustain its operations. We have previously pointed out that a number of mining companies and indeed other exporters who have to import their raw materials would close down unless the government reviews the exchange rate in line with inflation developments. It therefore came as no surprise to us that Falgold was suspending its operations until there is a marked devaluation or a significant rise in gold prices, neither of which appear to be forthcoming. Alloys, on the other hand, has been affected by lower world prices, which have fallen to their lowest levels in 30 years.

      This also brings in the fixed exchange rate. It said it could not compete with uneconomically priced products from the former Soviet States. Alloys also said the situation had been worsened by the release of between 25 000 and 30 000 tonnes of low and medium-carbon ferochrome by the United States Government Defence Logistics Agency. This is almost equal to Alloys output. The company said at current prices, it was unable to deliver product to any of its markets without incurring further losses on all sales. It had already borrowed $1.5 billion to sustain its operations, it said.

      by Staff Writer

      Copyright The Insider. Distributed by All Africa Global Media(AllAfrica.com)


      KEYWORD: Zimbabwe
      Mining

      Copyright © 2001, Africa News Service, all rights reserved.
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      schrieb am 02.04.01 14:04:42
      Beitrag Nr. 117 ()
      (http://www.minesite.com/archives/features_archive/april2001/…

      NGEZI DEAL IS WIN,WIN,WIN FOR ZIMPLATS, DELTA GOLD AND IMPLATS: ANOTHER CANDIDATE FOR AIM MARKET
      The deal whereby Delta sells part of its holding in Zimplats is an elegant solution to a problem which has dogged both companies for some time. Zimplats was originally a spin-off from Delta dating back to 1998 when the Aussie gold producer separated its Zimbabwean platinum assets from its gold assets and listed them as Zimplats. At that time it agreed not to sell its shares before end November 2001 but made plain that it did not intend to stump up for any future capital raising by Zimplats.

      Pressure from local investors would have been one reason not to put more money into a project overseas, though at the time Zimbabwe was not in such a mess nor platinum group metal prices at such a height. The moratorium on selling was purely to provide breathing space and it makes sense to lift this now as the deal will help accelerate Zimplats into production.

      Delta has now sold just under 30 per cent of its 51per cent holding to Implats, the world`s second biggest platinum producer which is situated next door to Zimbabwe in South Africa. ABSA, a major bank in South Africa is involved with Implats on this deal, the second part of which involves project financing of US$30 million being committed by the bank to Zimplats. Significantly it includes political insurance and it would be interesting to know how this is assessed in a country which Mugabe has reduced to a basket case. Presumably it is based on the remaining damage he can do to the economy during the years he is likely to remain in charge.

      For Implats it is the ideal deal. The ore from the opencast mine at Ngezi will be sent to the nearby BHP processing plant now owned by Zimplats. From there it will be transported some 1,100 kilometers as smelter matte to the Implats refinery on a similar offtake agreement to that agreed with Kroondal Platinum Mines, the subsidiary of Aquarius Platinum. The opencast mine indicated in the feasibility study will have a life of round 20 years and will deliver annual production of around 98,000 ozs platinum, 82,000 ozs palladium and 8,000 ozs rhodium as well as some gold and base metals.

      It is also a great deal for Delta Gold. The company retains 21 per cent of what looks like a very robust pgm project with no contingent liability. This should go down well with Aussie investors who gave CEO Terry Burgess a hard time last year when he had to close the Gold Ridge mine because of local unrest in Guadalcanal and suspend operations at the Eureka mine in Zimbabwe because of the local shambles. He can now use the funds to reduce . the debt built up from the acquisition of Kanowna Belle, Delta`s successful flagship gold operation, and from the current development of Wallaby. The A$33 million, which we understand was received and banked last Wednesday, is worth about A$0.125 per Delta share.


      And as for Zimplats, which has a listing in Australia, it can now rethink its future. Clearly its rating will never go anywhere Down Under, so the logical progression is to follow Aquarius Platinum to London. Roy Pitchford, the chief executive of Zimplats , today agreed that this was very much at the forefront of the agenda for the reconstituted Zimplats Board. He also went out of his way to comment on the friendliness and efficiency of the Implats team "They assessed the project quicker than the other majors who had been looking at us and were the only one to offer us continuing independence. All the others wanted Zimplats as a subsidiary."


      2 April 2001
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      schrieb am 02.04.01 17:55:17
      Beitrag Nr. 118 ()
      Monday, April 2 12:57 PM SGT

      Australia`s Zimplats Appoints Chairman, Two Directors to Board
      SYDNEY, April 2 Asia Pulse - Zimbabwe Platinum Mines Ltd [Zimplats] has announced the appointment of a new chairman and two directors to its board following last week`s announcement of two new major shareholders.
      Current Zimplats director Robert Still has taken the chairman`s position while David Brown and Stuart Murray join as directors.

      Mr Brown is financial director of Impala Platinum Holdings Ltd [Implats] and a director of Impala Platinum Ltd, the major operating company within the Implats group.

      Mr Murray is a consulting engineer, new business for Impala Platinum Holdings.

      Last week Zimplats announce Implats and South African bank ABSA had agreed to buy a 30 per cent stake in Zimplats for about $A31 million ($US14.99 million).

      The two are acquiring the stake from Zimplats` major shareholder Delta Gold Ltd for $A1.25 ($US.60) a share and leaving Delta Gold with a 21 per cent stake in the company.

      Implats will also take a stake in Zimplats` planned Ngezi open cast mine in Zimbabwe and the Hartley Platinum joint venture company which has the rights tot he mine and a processing plant.
      Avatar
      schrieb am 06.04.01 14:29:14
      Beitrag Nr. 119 ()
      Friday April 6, 3:30 am Eastern Time
      Zimbabwe`s Falgold defers mine closures
      HARARE, April 6 (Reuters) - Zimbabwe`s Falcon Gold said on Friday it had deferred a closure of its loss-making mines while the government worked out a rescue package for the troubled mining sector.



      ``The ministry of finance has engaged in discussions with the company`s directors and has intimated that it and the ministry of mines intend to facilitate an urgent rescue package for the mining industry,`` Falgold Managing Director Andrew Beattie said.

      ``Responding to a request from the ministry, the directors have therefore determined to defer a closure of the mines,`` he added in a notice to shareholders.

      Falgold announced on March 19 it was immediately suspending mining operations and gold production at its Dalny, Venice and Golden Quarry mines in central Zimbabwe due to unsustainable losses.

      In April 2000, mining house Falcon Investments Societe Anonyme, which owns 57 percent of Falgold, said it expected the subsidiary to post an interim loss and warned it might be forced to suspend operations.

      Last month, Chamber of Mines Chief Executive David Murangari told Reuters more Zimbabwe gold mines faced closure because producers were not allowed to retain enough of their hard currency earnings to cater for import requirements.

      The industry has had little relief from a move by the central bank last August to let gold producers operate foreign currency accounts and have 20 percent of gold deliveries paid for in U.S. dollars.

      Previously, producers - who are required to sell all their gold to the central Reserve Bank of Zimbabwe - were paid entirely in Zimbabwe dollars.

      The Chamber of Mines says while the 20 percent is paid to producers at a fixed official exchange rate of one U.S. unit to 55 Zimbabwe dollars, the industry buys most of its hard currency for crucial imports at a much higher rate on a thriving informal market.

      Zimbabwe has been critically short of foreign exchange for close to two years amid the country`s `s worst economic crisis since independence from Britain in 1980.

      Industry officials have projected a 25 percent decline in gold production this year due to the forex squeeze, an exchange rate they say is unrealistic and high inflation.
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      schrieb am 10.04.01 00:45:08
      Beitrag Nr. 120 ()
      Zimbabwe to rescue big gold producer

      --------------------------------------------------------------------------------

      HARARE The Zimbabwean government is putting in place an urgent rescue package for Falcon Gold Zimbabwe Ltd, which recently suspended operations due to unsustainable losses.

      A senior official in the ministry of mines and energy confirmed the bale-out plan yesterday saying it involved the finance ministry and Falcon Gold directors. "It is true that government is engaged in discussions with the company`s directors with a view to rescue Falcon Gold.

      "We have told them to postpone the closure of their mines while we work out the rescue package," the official said.

      Falcon Gold managing director Andrew Beattie said last Friday that Falcon had deferred the shutdown following a request from the ministry of finance.

      Falcon Gold, which owns Dalny, Venice, Golden Quarry, Globe, Phoenix, and Bell Riverea mines, announced on March 19 that it was immediately suspending operations due to "unsustainable losses".

      The Falcon Mines Group, which owns 62,16 % in Falcon Gold Zimbabwe, said last year that its subsidiary was facing dire financial difficulties and could be forced to scale down or completely close operations.

      Zimbabwe`s Chamber of Mines says 90% of the country`s gold mines are at risk due to the foreign currency crisis and government`s restrictive policy.

      Gold producers have for a long time now been lobbying government to allow them to retain significant amounts of the foreign exchange they generate so that they could import machinery and recapitalise.

      However, last month the Reserve Bank of Zimbabwe (RBZ), citing shortages, refused to grant the troubled gold producers permission to retain 100% of their hard currency earnings.

      RBZ governor Leonard Tsumba said granting gold producers higher foreign exchange remittances would worsen the fuel and power shortages in the country whose availability is heavily dependant on the amount of foreign currency government has.

      The central bank said producers would continue to get the 20% foreign currency earnings allocation, which is half the amount they requested last year. Producers have complained that the government was killing the "geese that lay the golden eggs".

      Producers are not allowed in terms of the law to sell their gold straight to the buyers. They go through the central bank.

      Chairman of the Chamber of Mines gold producers` committee Ian Saunders has said government policy was strangling the miners. Producers receive their receipts in local currency terms at the official exchange rate of US1 to Z55, while they source forex in the parallel market at US1 to Z200.

      Saunders has estimated that producers are losing approximately US10 to US15/ounce which translated into about US7m a year due to restrictive government policy. Gold is currently selling for between US260 and US265/ounce on the international markets.

      Zimbabwean gold producers` situation has been worsened by the government`s refusal to devalue the dollar. The official exchange rate has long been overtaken by a flourishing black market whose rates are ruling over the economy as far as foreign currency trade is concerned.

      The government and private companies conduct transactions at parallel market rates. Zimbabwe`s gold production has gone down 22% in the past 18 months.

      It is feared that most gold mines will close unless the government abandons its restrictive controls on operations and the economy improves.

      There are 11 main gold producers remaining in the country. This a 40% reduction from the 18 main producers about a year ago. Gold is Zimbabwe`s second largest foreign currency earner after tobacco, accounting for 3,5% of gross domestic product.


      Apr 09 2001 12:00:00:000AM Dumisani Muleya Business Day 1st Edition

      (http://www.bday.co.za/bday/content/direct/1,3523,827671-6094…
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      schrieb am 12.04.01 14:12:07
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      schrieb am 13.04.01 00:42:06
      Beitrag Nr. 122 ()
      Anglo keeping low profile on Unki Platinum



      By: Stewart Bailey


      Posted: 04/12/2001 05:00:00 PM | © Miningweb 1997-2001


      Analysts are not holding their breath for the speedy development of Anglo American`s [LSE:AAUK] Unki platinum deposit in Zimbabwe, as the country`s sinks further into its political and economic quagmire.
      There was an expectation that Anglo would focus greater attention on the development of the mine after Impala Platinum [JSE:IMP] invested $46 million into the region through Zimplats [AX:ZIM], the Australian-listed platinum producer.

      "Anglo should be mindful of the fact that Impala may have stolen the march on them in Zimbabwe and so they could be thinking of moving on Unki. But that`s not going to happen overnight," says one analyst.

      There has been little apparent movement so far on Anglo`s part and Anglo American Zimbabwe has said it is keeping a low profile on the issue, refusing to offer any comment on its plans for the development of the mine.

      Little is known about Unki except that its annual production will be about 65 000 ounces of platinum and 43 000 ounces of palladium from a steady state mining rate of a million tons a year. Anglo says "the total reserve for the Unki is 38 million ounces at a 4 PGE in-situ grade of 5,4 grams a ton".

      Anglo said in its prospectus of April 1999 that it had completed a feasibility study on the mine was completed at the end of 1997 and an in principle to proceed with the project was taken in 1998.

      Taxing delays

      But the implementation of the development strategy has hit one snag after another as Anglo`s attempts to secure similar fiscal dispensations to those granted to BHP`s Hartley platinum have failed. Anglo`s relationship with the Zimbabwean government is rumoured to be rocky at the best of times and the company`s chances of squeezing a more favourable dispensation from the government don`t look too favourable.

      Analysts say tax concessions are critical to the success of Unki, given that the project will have to compete for capital with the wealth of projects available to Anglo Platinum in South Africa`s bushveld complex. The grades are only about half as good as those of alternative projects in South Africa, so margins will be tight while Unki`s capital requirements will be similar if not higher than the options available closer to home.

      The smaller returns will make Unki difficult for Anglo American to justify and Anglo Platinum`s [JSE:AMS] Barry Davison has gone on record in the past as saying the project will look more attractive in 15 to 20 years when South African platinum mines go deeper and become more expensive to operate.

      Falling platinum group metal prices are also not improving the prospects and Anglo American`s UK-based shareholders may not be too impressed at a big-ticket investment into Zimbabwe, given Robert Mugabe`s despotic antics of late.

      So on the surface, it appears that the project is dead in the water. But Anglo has as much as $60 million already invested in the prospect and will be loathe to give Mugabe an excuse to expropriate the lease area because of its tardiness in moving on development.

      Anglo has already said the mine will create 1400 new jobs and the Zimbabwean government will be keen to get the project off the ground as soon as possible to appease an increasing disillusioned electorate. Whether Anglo is the developer or not will be of little consequence to the state.

      "The strategy for Anglo will probably be to stretch its bankable feasibility on the project out for as long as possible to prevent expropriation," says one Johannesburg-based platinum analyst.

      But that strategy will not have a very long shelf life and the final decision on Unki is unlikely to be too far off.

      http://m1.mny.co.za/MGPlat.nsf/Current/4225685F0043D65385256…
      Avatar
      schrieb am 20.04.01 13:56:55
      !
      Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an feedback@wallstreet-online.de
      Avatar
      schrieb am 21.04.01 19:59:53
      Beitrag Nr. 124 ()
      Hier habe ich was altes ausgegraben.

      http://www.fm.co.za/report/mining/hhimp.htm

      30 October 1998
      AMPLATS & IMPALA
      THE PLATINUM PHOENIX IS SET TO RISE AGAIN


      But the industry remains a tough nut to crack


      Platinum stands out among the wreckage of the international resources sector as the one commodity with sound fundamentals, and the companies best placed to benefit are Amplats and Impala Platinum (Impala).
      They are the world`s largest producers and both turned in excellent results for their financial years to end-June with the promise of much more to come.

      Falling levels of Russian platinum sales have tightened supply while, so far, platinum jewellery demand has held up well against the Asian economic crisis that has dealt harshly with sales of gold and diamond jewellery.

      Platinum has maintained a healthy premium in US dollars over gold and the SA producers are about to reap a bonanza over the next year because of the depreciation of the rand against the dollar.

      Impala boosted its headline earnings 178% and its dividends 218% in the year to June on a mere 27% increase in turnover. This performance was achieved on an average rand/dollar exchange rate of US$1/R4,94.

      The collapse in the value of the rand since July by another 27% to current levels around $1/R6 could double or treble Impala`s earnings again if management maintains the cost savings and productivity gains shown over the past year.

      Amplats "merely" increased its headline earnings 85% and its dividend 51,7% off a 31,1% increase in turnover during the year to June in an excellent performance for the much larger operation.

      Comparing the two sets of results shows Impala is more tightly managed in terms of productivity but Amplats has far more attractive medium and long-term prospects in terms of production expansion from its superior ore reserves.

      Amplats produced 1,9moz of platinum (previous financial year 1,7moz) and is currently adding another 350000oz of annual capacity.

      Impala managed a marginal increase to 1,05moz (1,0moz) but that level appears to be its production ceiling until it sorts out the legal dispute with Lonrho Platinum (Lonplat) over the merger that was blocked by the European Commission.

      Both groups are looking at where they might be able to expand while, once again, a number of newcomers are keen to enter the platinum business which last saw such a burst of interest in the late 1980s.

      Amplats is in by far the best position when it comes to expanding output and the group is spoilt for choice. If there`s a potential problem it lies in the political aspect of where Amplats might choose to spend its money next.

      While Amplats sits on extensive untouched reserves in SA it appears to be getting involved in possible mining ventures in both Zimbabwe and Australia.

      In Zimbabwe, Amplats is providing technical assistance to Anglo American Corp Zimbabwe (Amzim) which is looking closely at developing the Unki prospect on the platinum-bearing Great Dyke, provided it can negotiate suitable tax arrangements with the government.

      In Australia, Amplats has bought into listed mining exploration company Australian Platinum Mines (APM) and negotiated a technical assistance agreement over its project in the Pilbara region of Western Australia.

      Amplats bought 1m shares in APM along with options over another 9,3m which, if exercised, will give the group a 30% stake in APM at a cost of A$8,4m (about R34m).

      The relationship looks mutually beneficial. A world-class platinum strike outside Russia and SA has long been a kind of "holy grail" for mining groups while APM has secured the technological base needed to develop the deposit if it proves viable.

      Amplats MD Barry Davison says: "It`s impossible to say at this early stage what might be there but we think it`s worth looking into. Our view is that if it turns out to be better than what we have in SA then we must be involved in its development. It will be a couple of years before we have any real indication."

      Davison`s opinion on the Great Dyke is the prospects available in SA are more attractive cost-wise and the Zimbabwean deposits may only become viable in 20 to 25 years as the SA operations get deeper.

      The political dimension comes in because many mineral rights controlled by Amplats in the Northern Province and Mpumalanga belong to the State.

      The Department of Minerals & Energy is reviewing its policy on mineral rights and seems likely to push for a system of greater State - as opposed to private - ownership and a policy of "use it or lose it". The aim is to free more ground for development by smaller operators, which Impala seems to favour, but Davison is concerned it could damage the industry.

      He says: "Platinum is a tiny business which appears huge to South Africans because the country controls about 75% of it. It`s only a 5moz/year industry that is growing at a steady rate of about 2% annually.

      "Amplats has expanded its production by 500000oz/year since 1990 and our current expansion programme will add another 350000oz/year. We see further market gaps developing, which we will expand to fill, but opening up too many new mines at the same time would destroy the price in a worse-than-zero sum game for the whole platinum industry." Impala, on the other hand, sees opportunities to expand through more joint ventures with junior mining companies along the lines of Kroondal which listed on the Johannesburg Stock Exchange (JSE) in August.

      Kroondal is controlled by listed Australian mining company Aquarius and is developing a small deposit near Rustenburg. It has struck a long-term contract for its concentrate production to be toll-refined by Impala. Impala MD Steve Kearney says: "This way we avoid the mining risk and have plenty of spare capacity in our refinery that can be increased substantially through further capital expenditure."

      Kearney adds the improvement in the rand platinum price now warrants a detailed investigation into reopening Barplats` Crocodile River Mine. Impala has already moved to increase its stake in Barplats to 83% from 38% previously through buying out PGM Investments. Impala has also acquired at least six new prospects with a combined total of platinum resource estimated at 42,7moz.

      The prospects were bought from parent Gencor and Kearney says Impala is "open to finding" joint venture partners to develop them.

      "We think we are well positioned to benefit from any changes to the legislation on mineral rights that would allow smaller operators into the industry," he says.

      Among others looking at possible new platinum mines are Canadian mining exploration company Platexco and Australian mining junior Delta Gold.

      Delta is the junior partner with mining giant BHP in Zimbabwe`s troubled Hartley platinum mine. Hartley hit major underground mining problems and is running two years behind schedule. As a result the cost of the project has been pushed from $223m to an estimated $492m because of capital cost overruns and increased working capital requirements.

      Despite this - effectively the Zimbabwe version of SA disaster mine Northam Platinum - Delta reckons Hartley proves the Great Dyke is viable and has another two platinum projects there, Ngezi and Selous.

      Delta has shifted its Zimbabwe platinum assets into a separate company, Zimplats, listed so far in Australia with secondary listings planned for London and Johannesburg. The aim seems to be to develop one or both of these projects in partnership with one of the SA platinum groups and so avoiding the mistakes made by BHP, a newcomer to the platinum business when it started Hartley.

      Platexco is SA company Trojan Mining in Canadian guise. Trojan`s founders, Lawrence Blomkamp and Martin Brink, fought a long and bitter legal battle against Amplats over the base mineral rights to one of the farms making up the former Lebowa Platinum.

      That was finally settled, though the terms have been kept confidential by both parties, and in the aftermath Trojan listed Platexco in Toronto and set about developing the platinum deposits on the farm, Winnaarshoek, north of Lydenburg.

      In late September Trojan announced it had exercised its option to buy the mineral rights to Winnaarshoek from the delisted Vansa Vanadium for R24m.

      Agreement was also reached for Vansa to waive its right to take a 20% equity stake in any company set up to exploit the rights. Payment comprised R8,5m in cash and 1,5m Platexco shares, giving Vansa an 8,2% stake in Platexco. Platexco is still involved in a complex legal tussle regarding the rights to the farms, Turfspruit and Macalacaskop, which form the tail-end of the Platreef deposit where Amplats has developed its highly profitable Potgietersrust Platinum mine.

      So the scene is set for a renewed burst of activity in the platinum sector, but it must be hoped the outcome is more fruitful than the events of a decade ago in which so many investors` hopes were sadly dashed. The platinum game remains a tough nut to crack.

      For confirmation of this, if needed, look no further than Northam Platinum. After losing more than R2bn to date it has six years of life left unless taken over by Amplats or a decision is made to spend more capital on development.
      Avatar
      schrieb am 21.04.01 21:48:14
      Beitrag Nr. 125 ()
      Ca. Frühjahr/Sommer 2000:



      http://www.thebullandbear.com/articles/0500-black.html

      PGMs Hit Paydirt

      by Wade Black
      Personal Finance

      The current hoopla over fuel cells and the rising demand for cell phones have helped double the price of platinum and triple palladium`s price. And it ain`t over yet.
      Platinum and palladium, the two most abundant of the platinum group metals, or PGMs, have had huge price gains in the past six months. Growth Portfolio pick Stillwater Mining (ASE SWC $40.75), the largest North American producer of the metals, has profited mightily from this trend.
      Stillwater`s position as the top domestic producer is secure for the near term, especially in light of its aggressive campaign to triple its production during the next few years.
      But the action we`re seeing today in PGMs is only the tip of the iceberg. The industrial attractions and demand for the metals is fevered, but we haven`t even considered the value placed on platinum as jewelry in Asia.
      Japan`s long recession has held back much of the demand and as the Chinese begin to tap the vast potential of their country`s resources, the demand for platinum jewelry is on the rise. Even domestically, the American public has begun to value the metal. Its understated elegance is in stark contrast to the gaudiness of gold and the lower relative value of silver.
      As the prices of PGMs continue to rise, the development of other properties is of keen interest to mining companiesand investorsworldwide. The world`s largest producers are in South Africa, where its Bushveld complex is their equivalent of Montana`s Stillwater complex, but on a much larger scale. Buy up to 45.

      World Class PGMs

      Both Anglo-American Platinum (Amplats) (Nasdaq AAPTY $25.50) and Impala Platinum (Implats) (Nasdaq IMPAY $34.25) mine the metals in South Africa, and are traded in the U.S. as ADRs. These companies make Stillwater`s production look like a drop in the ocean and they`re a great way to play PGMs as well.
      Southern Africa has the world`s largest deposits of platinum and palladium. The rally in PGM prices has set the companies in the region on an expansionary trackImplats and Amplats will double production in the next 10 years, adding 3.4 million ounces of platinum to global supply. New mining operations and boosting recycling activities would be the key drivers of supply for both firms. Buy Amplats up to 31 and Implats up to 40.
      On the North American side, very little exploration has been done to find new supplies of the metals. But as the price keeps climbing, new ideas are cropping up. The only other producer north of the Rio Grande is North American Palladium (Nasdaq PDLCF $5.97), which has a small, open-pit mine in Ontario, Canada.
      It`s a wee operation and its proven and probable reserves are small as well. It may not be able to economically mine its property much longer. North American Palladium is a hold, keep an eye on its expansion plans.


      Our highest risk recommendation is Zimbabwe Platinum Mines Ltd. (Zimplats) (Australia ZIM $0.25). The company operates in an historically unstable region of Africa. As things heat up again around Congomore than six neighboring nations are involved in the conflictthere has been a selloff in share prices since mid-March.
      In Zimbabwe itself, internal political instability is being stirred by the ruling political party as general elections approach; elections are in late April. Old ethnic tensions have resulted in many demonstrations and peaceful occupations of white-minority owned farms.
      Any action against the farmers has been ruled illegal by the country`s courts. Therefore, it`s unlikely the ruckus will persist after the general elections. That means investors will again focus more on the compelling fundamentals of the nation`s impressive natural resource base, including Zimplats.
      Another factor contributing to the selloff in Zimplats is a newswire mistake about the company`s shareholders. The Australian Stock Exchange erroneously stated that Australia`s Delta Gold Ltd. has sold almost its entire position in Zimplats, although Delta sitll had a 51-percent majority stake.
      Media coverage of the Zimbabwe elections had been negative in Australia, where most of Zimplats` shareholders are. Their loss is our gain.
      Zimplats is focused primarily on boosting new mining operations. Zimbabwe has the world`s largest undeveloped PGM resources, which will be an unparalleled opportunity for the company in coming years as demand for catalytic converters, cellular phones and mobile devices booms. Zimplats is a speculative buy up to 33 cents for very aggressive investors only.
      If you don`t enjoy the inherently speculative nature of mining companies (especially ones without mines), another way to play the PGM game is through Johnson Matthey (Nasdaq JMPLY $24.75), a London-based refiner and metals marketer.
      In addition to being the world`s largest producer of catalytic converters, JM has an airtight marketing agreement with Anglo-American Platinum. Its shares can be bought on the London exchange, although ADRs representing two shares trade on the pink sheets in the U.S. under the symbol JMPLY. Johnson Matthey is a buy up to 845 pence, or 27 dollars for the ADRs.
      Editor`s Note: Wade Black is chief financial officer of Leeb Brokerage Services. Mr. Black`s comments appeared in Personal Finance, 1750 Old Meadow Rd., Ste. 301, McLean, VA 22102, 1 year, 24 issues, $69.
      Avatar
      schrieb am 21.04.01 22:35:39
      Beitrag Nr. 126 ()
      http://www.diggersndealers.com.au/dnd96/del.html

      Diggers & Dealers Forum 1996. Tuesday 30 July 9.00am Presented Louis Rozman


      by Louis I. Rozman
      Manager - Business Development and Mining



      PAPER TITLE: Platinum - Delta in Perspective

      Entree to LIR will be provided by PMV - 3 mins max.

      Slide 1: Giraffe et al

      Good morning Mr Premier, Mr Chairman, distinguished guests, ladies and gentlemen.

      I have the pleasure of starting off today`s first session with something a little different to gold in W.A. - Platinum in Zimbabwe.

      Slide 2: Platinum Market

      My intention in this short timeslot is to give you an overview of Platinum in a form that is familiar to most of us who are steeped in the Australian Gold Sector.

      In this slide we can see that demand is driven by industrial, chemical, glass and petroleum manufacturing in addition to use in jewellery and as bullion.

      Supply is dominated by South Africa, Russia and the recycling of auto catalysts, with small production levels from North America.

      Annual consumption of platinum is about 5 million ounces.


      Slide 3:

      Whilst supply is dominated by South Africa and Russia, substantial reserves and resources of platinum also exist in Zimbabwe. #2 after South Africa.

      With the size of the resources and reserves in Zimbabwe being of a size to match that of the world`s existing major producers.

      Slide 4:

      Platinum in Zimbabwe is contained within the Great Dyke, which is a substantial geological feature that stretches 450km. Within this features there are a number of platinum occurrences, with the Hartley Complex being the major resource in the country.

      Within the Hartley Complex, Delta has 33% ownership of the Hartley Platinum Project in Joint Venture with BHP, 39% ownership of the Mhondoro Platinum prospect in joint venture with BHP and 100% ownership of the Ngezi and Selous prospects, giving Delta the major stake in what is Zimbabwes major Platinum resource.

      Hartley Platinum has recently commenced commissioning and will be in full production in 1997.


      Slide 5:

      Comparison with the Australian Gold Sector of Delta`s platinum resources in Zimbabwe gives an indication of the potential size of this business to Delta. It must also be noted that for every ounce of platinum in this resource (and this table only includes platinum ounces), an additional ounce of platinum equivalent is contained in the resource in the form of Copper, Nickel, Cobalt, Gold Palladium and Rhodium co-products.

      By any measure, Delta`s platinum resource is a World Class deposit.


      Slide 6:

      Within that portion of the Hartley Complex that Delta is currently developing in JV with BHP, a reserve has been delineated for the first 20 years of production which has a forecast cost of production at the lowest end of the cost curve.

      It is worth noting by those not familiar with Platinum that with a Platinum price which tends to trade at a slight premium to that of gold and with a cost of production equal to that of the lowest cost quartile for gold, the operating margin of this business is comparable to that of a low-cost gold project.

      This cost includes all shipping, refining and marketing costs.

      Slide 7:

      Whilst this is a busy slide, it is a very useful adjunct to the last cost-curve slide. This graph shows the revenue obtained from a tonne of ore compared with the cost of production for a tonne of ore at Deltas Hartley Platinum project in addition to the 3 South African companies which, together produce 70% of the worlds platinum production.

      Note that in addition to nearly $30 worth of recovered Pt from each tonne of ore, an additional $30 worth of recovered Palladium, Rhodium, Gold, Nickel, Copper and cobalt is also produced from each tonne of ore at Hartley Platinum. this is marginally below that achieved by the world`s number one producer, Amplats, marginally better than Impala and certainly a benefit over Lonhro`s operations. What is significant however, is that combined with a cash cost pr tonne of approx $33/t at Hartley, this gives the operation a cash operating margin of $26/t of ore versus $14, $11, $10. Now why are we satisfied that this cost is realistic?

      It is not dissimilar to the benchmarks at Impala and Lonhro, but in addition, the shallow mining depth of this new project in Zimbabwe is of significant benefit over the great depths currently confronted by the mature operations in South Africa. 100-500cm depth in Zimbabwe versus the 800-2000m depth currently being mined in South Africa.

      Use of the latest technology is also advantageous to the Hartley Platinum Project, both in the areas of mining equipment and milling equipment, giving productivity benefits over its mature competitors.


      Slide 8:

      Whilst the last graph showed the comparison of revenues per tonne for Hartley against the industries major producers, this graph reinforces this comparison by showing the recovered grades from ore at the same operations ie. the grades mined, milled and recovered at Hartley Platinum compare favourably with those of the major producers in South Africa. I have shown this information this way, as the differences in the Resource/Reserve codes between Australia and South Africa make comparisons of quoted reserves confusing at best.


      Slide 9:

      Mining systems at Hartley Platinum are not dissimilar to those used in gold and platinum in South Africa. A shallow-dipping reef about 18 degrees, is mined by handheld methods from 1.2m height stopes. At Hartley the stopes are 36m wide and 160m long and delineated on all 4 sides before mining. Broken ore is scraped down the raise and dropped through a boxhole. At this point Hartley differs to the traditional tracked mining systems used in South Africa, at Hartley an LHD loads from the ore pass into a haul truck and it is hauled to a bin which feeds a conveyor to the surface.

      Hartley Platinum combines conventional narrow vein stoping techniques with flexible rubber tyred diesel haulage and jumbo development.

      Slide 10:

      The process circuit at Hartley Platinum is like any conventional sulphide flotation circuit where ore is milled via SAG and ball mills prior to flotation, to produce a concentrate for smelting. Smelter matte is refined on site to produce four 9`s nickel and copper cathodes. The residual concentrate which contains the precious metals is drummed and airfreighted {1tpd} to the UK for refining.

      In this first stage of the project, the circuit will process 2.16 million tonnes per annum to produce each year:



      150,000 ounces of Platinum
      110,000 ounces of Palladium
      11,500 ounces of Rhodium
      23,000 ounces of Gold
      3,200 tonnes of Nickel
      2,300 tonnes of Copper
      87,000 pounds of Cobalt


      I will now show you some photos of the current status at Hartley Platinum.

      Photo 1:
      An aerial view of the Hartley Platinum project looking from the south to the north. the distance from each mine portal to the plant site is 2 kilometres. Each mine is built to be capable of 2Mtpa, but they will only be operated at 1.1Mtpa each during the first stage of the project i.e. the mine is built for 4Mtpa but will be operated at 2.2Mtpa in Stage 1.

      Note: the conveyors from underground to the mill.

      Photo 2:
      The process plant site is 1000m x 800m, you see the mills, flotation tanks, smelter and base metals refinery. Here is the sulphur off-gas stack and electrostatic precipitator, very similar to Kanowna Belle and built to operate to the same environmental standards as at our joint venture with North.
      Note: that whilst the process plant will be operated at 2.2Mtpa during Stage 1, it has been designed to expand to 4Mtpa.

      Photo 3:
      SAG mill - for scale

      Photo 4:
      Flotation tanks - man for scale

      Photo 5:
      2-Boom Jumbo development

      Photo 6:
      Atlas Copco/Robbins Boxhole borer, blind raising using a mini tunnel borer.

      Photo 7:
      Inside an early stope, timber props and hydraulic supports at the face.

      Photo 8:
      Stope - with men for scale

      Photo 9:
      Gullick high pressure water drill. Similar weight and size to a compressed air machine but drills 3 times faster. These are the drills used in stoping.

      Photo 10:
      Scraping ore to a boxhole

      Photo 11:
      LHD tramming from a draw point

      Slide 11:

      Hartley Platinum is only a small part of Delta`s substantial platinum resource base.

      Hartley Platinum has delineated reserves which will be produced at the lowest cost in the industry.

      The technology used is conventional.

      The project is built to be expanded.
      Avatar
      schrieb am 21.04.01 22:41:05
      Beitrag Nr. 127 ()
      http://www.dailynews.co.zw/daily/2001/March/March6/8474.html

      If globalisation ruined US, many countries must be wishing such ruin on

      3/6/01 9:15:48 AM (GMT +2)


      Richard G McGown

      I READ the article by Aurther Shoko “Globalisation Means More Exploitation” and found it a difficult read.

      I am not a trained economist, and searched in vain for his definition of globalisation.
      So in default, I will state my own understanding of that term: the
      utilisation of the world’s resources, whether human or mineral, in a way which benefits the world at large.
      This may, and often does, mean large wealthy multinational corporations, with resources greater than many smaller nations, including Zimbabwe, offering to provide the use of those resources to a country in order that they can both benefit, the company by making profits, and the country by earning money from the utilisation of its resource.
      This resource may be a mineral, or oil, which the world has need of, and which would otherwise remain unexploited, or it may be a reasonably literate, trainable labour force which will enable the company to manufacture goods cheaper in that country than elsewhere.
      But I searched through the article in vain for one concrete example of a multinational company taking over a country and using it as its own private fief, although the recurrent theme of Shoko’s article seemed to be that this was the inevitable consequence of globalisation.
      The one possible concrete example quoted was when he wrote: “In undeniable terms, however, when a corporation talks of carrying out a Œdevelopment project’, this only means the firm would invest money, build something and then extract more profit than was invested. This is a typical case of BHP.”
      Let’s examine this statement. Large corporations are not philanthropic institutes, and it is their business to seek a positive return from their investments that is “extract more profit than was invested”. Shoko seems to have a problem with this, and this problem is the leitmotif of the whole article, which is why it is the mass of non-specific gobbledygook that it is.
      If “BHP” is a reference to the Australian mining group Broken Hill
      Proprietary, the example is particularly unfortunate, since BHP sank a very large amount of precious foreign currency into developing a platinum mine only to find that government obduracy and interference made it impossible for them to function.
      They, therefore, pulled out, having incurred a very substantial loss, an experience that will not have been lost on other potential investors in our country.
      The rest of the article is a mishmash of generalisations, half-truths and opinions, none of them substantiated by a single concrete example.
      When one reads, “America was simply the first nation to be ruined by the clandestine revolution”, one wonders what planet Shoko inhabits.
      America is the richest nation in the world, and if it is ruined, many other countries must be wishing such ruin on themselves (especially Zimbabwe with its host of problems, be they social, economic or political).
      I am surprised that The Daily News gave this much space and prominence to such a meretricious piece of writing.

      Richard G McGown
      Avondale
      Harare
      Avatar
      schrieb am 21.04.01 23:02:16
      Beitrag Nr. 128 ()
      PGM Investment
      by THC
      16 February 2000 07:01 UTC
      http://csf.colorado.edu/forums/longwaves/feb00/msg00653.html
      Avatar
      schrieb am 28.04.01 20:40:06
      Beitrag Nr. 129 ()
      Der Vollständigkeit halber, und damit auch im Australien-Board wieder ein vernünftiger Wert oben steht ... ;)

      Für die (noch) nicht investierten Leser: bei nun 1 A$ ist Zimplats doch eine Überlegung wert!?
      Siehe Gewinnberechnung vom 26.3. Allerdings ist Pd ein bißchen niedriger als damals.

      ___________________________________________





      Third Quarter Activities & Cashflow Report
      Announced on 2001/04/26 14:56:02.
      Part:B 1646 words
      Status: Market sensitive (Y)
      Industry Sub Group: Mining Explorer (27)



      ZIMBABWE PLATINUM MINES LIMITED 2001-04-26 ASX-SIGNAL-G

      HOMEX - Sydney

      +++++++++++++++++++++++++
      REPORT FOR THE MARCH 2001 QUARTER

      SIGNIFICANT DEVELOPMENTS FOR ZIMPLATS

      The March 2001 quarter has seen five significant and exciting
      developments for the Company in its objective to become a major
      independent platinum producer. Following on from the signing of the
      Framework Agreement with the Government of Zimbabwe, reported in the
      previous quarterly report, the significant milestones detailed below
      have been achieved.

      BHP LIMITED`S ZIMBABWE PLATINUM ASSETS ACQUIRED

      On the 30th January 2001, as a consequence of Zimplats having
      negotiated with the Government of Zimbabwe the unconditional release
      of BHP Limited (BHP) from all its obligations in terms of the Hartley
      Platinum Mine (HPM), Zimplats took transfer of the entire share
      capital of BHP Minerals Zimbabwe (Proprietary) Limited, (BHPMZ).
      BHPMZ was BHP`s Australian subsidiary company which is the joint
      venture participant with Zimplats` subsidiary Hartley Management
      Company (Private) Limited (HMC), in the Hartley Platinum Joint
      Venture (HPJV), the former joint venture between BHP Limited (67%)
      and Delta Gold Limited (33%) to develop the Hartley Platinum Mine.
      BHPMZ is also the joint venture participant with Zimplats in the
      Mhondoro Platinum Joint Venture (MPJV). The name of BHPMZ has now
      been changed to Hartley Minerals Zimbabwe (Proprietary) Limited,
      (HMZ).

      On the 1st February 2001, Zimplats, through HMC, took over the
      management of the Hartley Platinum Mine from BHP and immediately set
      about preparing for the re-commissioning of the Mill, Concentrator,
      and Smelter which forms part of the surface metallurgical processing
      plant of HPM, the Selous Metallurgical Complex, (SMC).

      The HMZ interest in the MPJV has been transferred to Zimplats.

      ACCEPTABLE FISCAL LEGISLATION FOR PROJECT DEVELOPMENT

      The Government of Zimbabwe is in the process of enacting new fiscal
      legislation for the mining industry, which is designed to attract new
      foreign investment into the mining sector. Government has consulted
      with the mining industry, including Zimplats, on the new legislation.
      Zimplats supports the new legislation. To the extent, however, that
      the new legislation does not contain all the provisions incorporated
      in the HPJV Mining Agreement, Government has given a written
      undertaking to Zimplats, Implats, and Absa that HMC will be permitted
      to continue to use selected provisions of the Mining Agreement
      considered essential for the Ngezi/SMC Project.

      OFFTAKE AGREEMENT WITH IMPALA REFINING SERVICES LIMITED SIGNED

      On the 19th March 2001, Zimplats signed a matte offtake agreement
      with Impala Refining Services Limited (IRS), a subsidiary company of
      Implats involved in third party offtake and refining operations. In
      terms of the agreement, Zimplats will sell to IRS smelter matte
      containing PGMs`, gold, copper, nickel, and other metals. The
      agreement allows Zimplats in the early stages of re-commissioning the
      SMC to sell concentrates until there is sufficient volume to restart
      the smelter. The terms of the offtake agreement are arms length and
      comparable to those existing in the market.

      DELTA GOLD LIMITED SOLD 30% OF ZIMPLATS` EQUITY

      On the 23rd March 2001 Delta Gold Limited sold 30% of Zimplats`
      equity to a consortium consisting of Implats and Absa. Implats and
      Absa have a 50% interest each in the consortium giving each of them
      an effective 15% equity stake in Zimplats. The consortium is the
      Company`s major shareholder with Delta retaining 21% of Zimplats`
      equity.

      STRATEGIC INVESTOR AND PROJECT FINANCIER SECURED

      On the 26th March 2001 Zimplats signed a Share Subscription
      Agreement, subject to shareholder approval, with Impala Platinum
      Holdings Limited (Implats) for Implats to invest US$30 million in
      exchange for new shares in HMC, resulting in Implats owning 30% of
      the enlarged share capital of HMC. In view of Implats being a
      significant shareholder in Zimplats, the investment in HMC is a
      related party transaction. A general meeting of shareholders is to be
      convened at the end of May to obtain approval for the Implats
      investment in HMC.

      Implats is the world`s second largest platinum producer and brings to
      Zimplats the technical skills and expertise that will assist in
      establishing the Company as a major PGM producer. Implats has several
      similar investments in other platinum producers such as Kroondal
      Platinum Mines Limited, Aquarius Platinum Limited, Western Platinum
      Limited, and Eastern Platinum Limited, the latter two forming the
      platinum division of Lonmin Plc.

      Absa Bank Limited (Absa) has committed to providing US$30 million
      debt funding to HMC for the Ngezi/SMC Project. The funds will be
      drawn down over a twelve-month period during the Project construction
      period, and repaid in four equal six-monthly instalments over the
      subsequent two years. The full loan agreement, subject to the loan
      being approved by shareholders, incorporating the provisions of the
      term sheet is still to be negotiated and finalised. Absa being a
      significant shareholder in Zimplats makes the debt funding to HMC a
      related party transaction requiring shareholder approval at the
      proposed general meeting.

      Implats and Absa have indicated to Zimplats that they would wish to
      be considered as investors and financiers for future platinum
      production projects that Zimplats envisages developing in the Ngezi,
      Selous, and Mhondoro areas that remain 100% owned by the Company.

      NGEZI/SMC PROJECT DEVELOPMENT COMMENCES

      Early in April 2001, development commenced in respect of certain key
      elements of the Ngezi/SMC Project as a consequence of Implats
      agreeing to advance a portion of its HMC share subscription funding
      as a loan to HMC.

      EMPOWERMENT SHARE PLACEMENT

      Negotiations with the National Investment Trust (NIT) of Zimbabwe to
      take up a placement of 13,254,273 shares, 15% of Zimplats` issued
      share capital, are still in progress. The NIT, assisted by a Zimbabwe
      merchant bank and Absa, is investigating a number of potential
      sources of finance for the placement. The shares are to be issued for
      Australian dollars at a market-related price.

      In terms of the Framework Agreement with the Government of Zimbabwe
      there is no time limit for the NIT to take up the placement shares.
      However, in terms of the shareholder approval for the placement that
      the directors of Zimplats intend to obtain, the placement will need
      to be taken up within three months of shareholders approving the
      placement.

      The Framework Agreement does not require the 15% participation to be
      by way of a placement and the shareholding can be provided from
      existing shares. In the event that the NIT does not take up the
      placement, Zimplats will evaluate other means by which the 15% equity
      can be made available to the NIT.

      CHANGE IN DIRECTORS AND CHAIRMAN

      On the 28th March 2001 John Shaw resigned as a director and chairman
      and Kerry Sibraa and Steve Gemell resigned as directors to facilitate
      the restructuring of the board as a consequence of the change in the
      major shareholding of the Company. Zimplats, on behalf of
      shareholders, thanks Messrs Shaw, Sibraa, and Gemell for their
      contribution to the Company and in bringing the Ngezi/SMC Project to
      the point of commencement. The board wishes them success in their
      future endeavours.

      David Brown and Stuart Murray, representing Implats, were appointed
      to the Zimplats board on the 30th March 2001. David is Finance
      Director of Implats, is a Chartered Accountant with many years
      corporate finance experience. Stuart is Implats` Consulting Engineer
      for new business and CEO of the Implats subsidiary, Impala Refining
      Services Limited. David and Stuart bring many years of corporate
      finance and technical experience in the platinum industry to the
      board of Zimplats.

      Greg Sebborn, Zimplats` Finance Manager, and Assistant Company
      Secretary was appointed Zimplats` Finance Director on the 5th April
      2001. Greg is a Chartered Accountant and has been with Zimplats since
      its inception. He has assisted in the negotiations to acquire the BHP
      platinum assets in Zimbabwe, the Framework Agreement with Government
      and introduction of the new investment and financing of HMC.

      At its 30th March 2001 board meeting, the directors of Zimplats
      appointed Mr Rob Still as Chairman of the board. Mr Still has many
      years` experience in mining and mining finance worldwide and resides
      in South Africa.

      NGEZI/SMC PROJECT

      Subject to the fulfilment of the conditions precedent contained in
      the share subscription and debt funding agreements referred to above,
      it is considered that the Ngezi/SMC project is now ready to commence.
      The feasibility study has been certified bankable by SRK (UK)
      Limited, independent consultants.

      During the quarter to March 2001, potential equity investors and
      potential debt funding parties undertook several due diligence
      exercises. No significant errors in the assumptions made or the
      proposed development parameters were revealed.

      ZIMPLATS SHARE PRICE AND VOLUMES

      At the start of the quarter the Zimplats share price stood at A$0.74,
      improving to A$1.15 at the end of the quarter.

      The total volume of shares traded during the quarter increased over
      the previous quarter from 5.6 million to 8 million.

      ZIMBABWE ECONOMY

      The Zimbabwe economy is currently experiencing its worst downturn in
      recent history. This downturn is characterised by high unemployment
      and a persistent and critical shortage of foreign currency, which in
      turn has led to ongoing shortages of fuel and other essential
      imports. The Zimbabwe dollar remains artificially pegged at 55 to the
      US$ resulting in the establishment of an informal parallel market for
      foreign exchange. Critical balance of payments support from foreign
      institutions and donor agencies remains frozen and is unlikely to be
      resumed in the short term.

      It is against this backdrop that Zimplats is embarking on the
      development of a major project that will generate significant amounts
      of foreign currency as well as creating new employment opportunities
      both direct and indirect. For these reasons, it is fair to say that
      the announcement by Zimplats that the Ngezi/SMC Project is to
      commence shortly has been welcomed by all sectors of the Zimbabwe
      community.

      INFORMATION ON ZIMPLATS

      CONTACT - AUSTRALIA CONTACT - ZIMBABWE
      Ms Kathrine Brown Mr Roy Pitchford or Mr Greg Sebborn
      Tel: +61 2 9252 7880 Tel: +263 4 746 737 / 746 858
      Fax: +61 2 9252 7882 Fax: +263 4 746 505
      Email: info@zimplats.com Email: roy.pitchford@zimplats.co.zw
      Website: www.zimplats.com Email: greg.sebborn@zimplats.co.zw
      Website: www.zimplats.com

      In the report Zimplats refers to Zimbabwe Platinum Mines Limited
      and/or its subsidiaries.
      Avatar
      schrieb am 01.05.01 08:41:14
      Beitrag Nr. 130 ()
      DJ Delta Gold 3Q Pft Excluding Zimplats Sale A$5.7M


      (MORE) Dow Jones Newswires 26-04-01

      0044GMT

      *DJ Delta Gold 9 Mos Pft Excluding Zimplats Sale A$22.7M

      (MORE) Dow Jones Newswires 26-04-01

      0044GMT Likely To Benefit From Zimplats


      SYDNEY (Dow Jones)--Australian gold miner Delta Gold Ltd. (A.DGL) Thursday reported profit for its third quarter ending March 31 totaled A$5.7 million.

      This brings its profit for the nine months from its fiscal year starting July 1, 2000, to A$22.7 million.

      The company said these figures exclude the sale of its stake in Australia-based Zimbabwe Platinum Mines Ltd. (A.ZIM) or Zimplats.

      Late March, Delta reduced its stake in Zimplats to 21% when it sold 26.5 million shares to South Africa`s Impala Platinum Holdings Ltd. (O.IM) and South Africa`s ABSA Bank Ltd. (O.ABA).

      After the sale, which led Delta to realize an after-tax profit of A$29 million, Delta said its directors would "reassess the carrying value of the retained interest in Zimplats on Delta`s balance sheet when the full-year financials are prepared."

      But it maintains "Delta remains in a strong position to benefit from Zimplats` future upside through its 21% retained shareholding" with Impala`s involvement.

      Impala is the world`s second-largest platinum producer.

      (MORE) Dow Jones Newswires 26-04-01

      0110GMT~200104260044
      Avatar
      schrieb am 01.05.01 09:34:35
      Beitrag Nr. 131 ()
      http://allafrica.com/stories/200104270159.html

      Knight in Gold Leaf to Our Rescue


      Zimbabwe Independent (Harare)

      April 27, 2001
      Posted to the web April 27, 2001

      Harare

      The resuscitation of the Gold Price Support Scheme, announced this week by the Reserve Bank, should go some way to staving off a further major drop in gold production. Output fell last year by 20% in volume and all indications were that failing a change in basic financial operating conditions there would be a further drop in production in 2001.

      The Reserve Bank`s press statement says that for as long as the local currency equivalent of the international gold price is below the new local floor price of $18 865 an ounce, Fidelity Printers and Refiners will buy all locally-produced gold at the floor price.

      Given the official exchange rate of $55 to US$1 the floor price is the equivalent of US$343 an ounce. Should the local currency equivalent of the international price exceed the floor price, gold will be purchased at the ruling international price.

      The international gold price is currently around US$263 an ounce so the additional income accruing to local gold producers under the scheme works out at the equivalent of US$80 an ounce.

      At unchanged levels of production and assuming unchanged official exchange rates producers can expect to earn an additional $3 billion in a full year.

      With the miners` 20% foreign currency retention, the Reserve Bank will need to find 80% of the above amount or ask Treasury to find it for them. The public will have to meet this additional expenditure either in the form of higher inflation or in increased taxation. Given the proximity of an election the former outcome seems the more likely.

      Fixing a floor price for gold purchases in effect adds yet another exchange rate to the growing number of rates governing different parts of the economy or different types of foreign transactions.

      Starting with the official rate, the authorities have introduced a tobacco farmers` rate; a travel and airport departure tax rate; and now, a gold purchase rate. Unofficially, there is the parallel market with a range of rates above the official rate; and reportedly a black market with even higher rates.

      Multiple exchange rates are nothing new and have flourished in many parts of the world. But they depend in effect upon the imposition of a system of subsidies and taxes which inhibits factor-price equalisation and the more efficient use of the available resources. Their growing proliferation is likely to restrict medium-term growth.

      On the foreign exchange front, the perceived knight in shining armour, or rather in gold leaf in this case, is the tobacco-selling season which opened this week. Day one was very encouraging, at least price-wise, with the average on the main Tobacco Sales Floors (TSF) some US68 cents (or 41%) per kg higher than last year.

      Volumes were however well down at 2 537 bales at TSF, BMZ 1 685 bales and 192 bales at the new Zitac.

      In previous years over 10 000 bales per day might have been expected and reports indicate bookings for the rest of the week of less than 1 000 bales in total. It would appear that initial deliveries have been to test the market and establish some indicative price, which should have been well received by most.

      However, at the prevailing exchange rate viability concerns must be at the forefront of the growers` minds, added to which the experience last year of a mid-season devaluation lost early sellers a substantial amount of potential earnings. So any delay in deliveries would be no more than the exercise of simple economic logic.

      Irrespective of the timing of sales, it is perhaps interesting to establish the perspective of the total crop`s earning capacity. Assuming a 190 million kg crop at an average US$2,20 per kg, total revenues would amount to just over US$400 million.

      Surprisingly this would only just cover 10 months` cost of normal fuel imports (assumed at US$40 million per month). Not exactly the glorious rescue knights are supposed to provide!

      Last week the Central Statistical Office released the March 2001 inflation figures. Year-on-year the March consumer price index declined from 57,7% in February to 55,8%.

      While the year-on-year rate has come off slightly, the trend of the month-on-month rate indicates another story. This measure has been showing a steady increase, from 1,45% in December 2000 to 7,88% in March this year. This mirrors last year`s trend where month-on-month inflation increased from 1,9% in December 1999 to 9,2% in March 2000.

      However this time around non-food inflation, which tends to be less volatile than food inflation, contributed a relatively larger percentage to the month-on-month increase than food inflation. Month- on-month food inflation actually fell from 7,9% to 5,6%, where-as on the same basis non-food inflation rose from 3,5% to 9,1%.

      The message here seems to be that all sectors of the economy are being hard hit by the current inflationary pressures as input costs continue to rise. This is also reflected in the fact that the rent, rates and domestic power item, (up 29,2%), was the biggest contributor to month-on-month inflation.

      Looking to a crystal ball forecast our own conservative calculations show little prospect for any major improvement. If we assume that month-on-month inflation increases by the lowest monthly increase so far this year, (4,32% in January), for the rest of the year, CPI will close the year at around 72,86% year-on-year. Recalculated at the average annualised rate for the past 12 months of 3,8%, then the CPI can be expected to close the year at around 65,25% pa.

      The inflationary impact of the talked about devaluation pressures, particularly for power and fuel, must be cause for concern. It is unclear just how much trade is still being conducted at the parallel rate of exchange, last unsubstantiated indications of which were around the $120 to US$1 level. Surely at these prices we cannot be too far from hitting consumer resistance thresholds, particularly for non- essential goods and services.

      That we have arrived at these phenomenal price levels in such a short space of time is partly symptomatic of the low interest environment.

      With such a low opportunity cost for savings, spending them in the face of high inflation, for the rest of the year anyway, can be the only sensible course of action. And spending activity encourages prices to increase, an asset and services price spiral we are all only too familiar with.

      The masterplan to put all this right, we are told, revolves around a supply side response to the low interest rate environment, particularly from the export sector.

      It is envisaged that this will negate the increased consumer buying pressure and prices need not rise. However, the turnaround time for this to happen is likely to be longer than the spending response, which has probably been fairly immediate.

      Already this week retail bread prices have increased by between 10% and 30%, and poultry prices by 5%, with increased input costs being cited as the major reason.

      Indications are that other increases cannot be far behind and so the 70% "average" inflation rate forecast by the Reserve Bank for 2001 looks a pretty good guideline, probably as a best case.


      Copyright © 2001 Zimbabwe Independent. Distributed by AllAfrica Global Media (allAfrica.com).
      Avatar
      schrieb am 01.05.01 11:31:45
      Beitrag Nr. 132 ()
      Nur noch 0,84A$. Grund vermutlich das hier:

      ---------------------------------------

      Hunzvi targets embassies, NGOs

      By Sydney Masamvu, Political Editor
      4/26/01 7:03:35 PM (GMT +2)

      CHENJERAI Hunzvi`s war veterans warned this week that they will soon raid foreign missions and non-governmental organisations (NGOs) based in Zimbabwe which are suspected of funding the opposition Movement for Democratic Change (MDC).


      Hunzvi, leader of the veterans, issued the grim warning as his me-mbers widened a camp-aign of raiding Zimba-bwean-based companies and attacking their bosses who they accuse of ill-treating workers in a fresh wave of violence that is engulfing the country.

      He told the Financial Gazette his militia, which led a violent campaign against the opposition and in support of the ruling ZANU PF in last year`s general elections, would not tolerate Harare-based embassies that backed the MDC.

      "Our next target after solving workers` problems in factories and companies will be to deal once and for all with foreign embassies and non-governmental organisations who are funding the MDC," Hunzvi declared.

      "We will be visiting them soon to express our displeasure and to warn them to stop interfering with our internal matters. No one can stop us in our second phase," he added.

      He did not name the embassies or NGOs his members are targeting nor the specific type of action that will be taken against those alleged to be funding the MDC, which threatens to unseat President Robert Mugabe in crucial elections due next year.

      Hunzvi`s veterans have already forced the closure of several companies in the past month, worsening Zimbabwe`s record joblessness of 60 percent.

      The veterans, who have assaulted several company managers, are accusing the firms of either under-paying their workers or ill-treating them. They have forced most of those raided to pay "compensation" to the affected employees.

      Hunzvi, a Polish-trained medical doctor and Member of Parliament, said his members had resolved not to tolerate any foreign nations which were working to unseat Mugabe, in power since Zimbabwe`s independence from Britain in 1980.

      "We will use whatever means we have to deal with these foreign nations here who want to install a puppet regime in Zimbabwe," he warned.

      Mugabe has accused Britain, the 15-nation European Union and the United States of creating and funding the MDC to topple his government, accusations which they deny.

      He has also personally warned international aid donors "to stop meddling" in the country`s internal politics, especially after the MDC lost by a slim margin to his ZANU PF in last June`s parliamentary plebiscite.

      The 77-year-old president, who has ruled with an iron fist, faces the stiffest challenge to his reign of two decades from veteran trade unionist and MDC head Morgan Tsvangirai in next year`s presidential ballot.

      Hunzvi`s faction of war veterans have even threatened to go to war should Mugabe lose that election but most analysts have brushed off the threat as hot air because no southern African country is likely to allow them to operate from their territory.

      Hunzvi`s threat to invade NGOs is however being taken seriously following an attack on the Harare offices of Germany`s Fredrick Ebert Stiftung (FES), an NGO, this week.

      The veterans stormed the FES offices on Monday and forced the NGO to pay $600 000 to two sacked workers whose cases are still being dealt with by the courts.

      FES officials, who included constitutional rights activist Lovemore Madhuku, had to seek the protection of Home Affairs Minister John Nkomo and National Security Minister Nicholas Goche during the raid.

      The veterans accused the FES of funding the MDC and ordered the organisation to stop helping the opposition party, charges denied by the German NGO.

      Hunzvi, who is touring Matabeleland, said his association would now move to all the country`s 10 provinces to solve pending labour disputes because, he said, the Zimbabwe Congress of Trade Union, the umbrella body for all trade unions, had become political.

      His comments follow a warning by Mugabe last week that he will take drastic action against companies which are closing down in the midst of a grinding economic crisis, itself blamed on the government`s mismanagement and corruption.

      At least 400 local companies shut their doors last year and retrenched more than 10 000 workers as they fight to survive under unprecedented shortages of foreign currency, fuel and power triggered by Zimbabwe`s economic meltdown.

      The closures have fuelled rising public discontent against the government in a country where 80 percent of the population of 13 million lives below the poverty line.

      http://www.fingaz.co.zw/fingaz/2001/April/April26/1454.shtml

      -----------------------------------------------

      War vets` terror seals economy`s fate

      By Nqobile Nyathi, Business News Editor
      4/26/01 7:04:28 PM (GMT +2)

      ATTEMPTS by Zimbabwe`s governing ZANU PF party to woo urban voters by unleashing independence war veterans on the private sector in the name of disgruntled workers is the last nail in the coffin of Zimbabwe`s already critically ill economy.


      The veterans, notorious for destabilising the key farming sector last year through the seizure of farms, have expanded their rampage into urban areas, storming several com-panies in the past few weeks under the pretext of settling labour disputes.

      The Confederation of Zimbabwe Industries (CZI), the umbrella body for the country`s major manufacturing companies, this week said it had been "inundated with reports from its members con-cerning external inter-ference in labour matters".

      Although the orga-nisation did not indicate how many companies had been affected to date, this week alone the veterans raided at least six firms in Bulawayo and Harare, demanding the reinstate-ment of workers or the payment of retrenchment packages.

      Hundreds of thousands of dollars were extorted from the affected companies, with one organisation reported to have forked out as much as $5 million on Tuesday to ensure the safety of its employees and clients.

      Commentators this week said if the fresh wave of lawlessness against business was allowed to flourish, it would be the final straw for Zimbabwe`s economy, already under the worst crisis in two decades symbolised by runaway inflation, jobless-ness and poverty.

      "I would say this is another nail in the coffin of investment," University of Zimbabwe business studies lecturer Tony Hawkins told the Financial Gazette. "No one is going to invest in Zimbabwe under these conditions."

      Foreign direct investment into the country has already collapsed by 90 percent and local investment has also been hit by declining investor confidence because of the severe macroeconomic instability and the seizure of private farms.

      The occupation of commercial farms by ZANU PF supporters has cost Zimbabwe millions of dollars because of the destruction and theft of crops and livestock and the disruption of agricultural activity.

      Firms supplying the agricultural sector with raw materials, as well as those dependent on it for inputs and markets, have seen sales volume tumble at least 50 percent in the past year.

      Instability in the farming sector, macro-economic problems and the accompanying foreign currency and fuel shortages combined to put 400 manufacturers out of business and about 10 000 industrial workers on the streets last year.

      Security fears caused by the farm invasions and political violence has also sent foreign tourist arrivals plunging by more than 50 percent, forcing more than 100 tourism companies to close last year and throwing 5 000 workers out of their jobs.

      The analysts said the destabilisation of a business sector that was already on its last legs would spell disaster for those firms that had up to now managed to keep afloat in spite of a deteriorating operating environment.

      This would sharply reduce the revenue the government derived from taxes on income, profits and sales.

      Bulawayo-based eco-nomic commentator Eric Bloch said: "I believe this is the final nail in the coffin of the economy. It will mean the collapse of business, not only those that are directly affected, but those that depend on these businesses.

      "It will certainly be the final deterrent to any form of foreign investment and will result in massive unemployment, which will mean a sharp reduction in all economic activity.

      "The economy has already suffered from the farm invasions and we already have a sick economy. It`s now being given the final poison that will kill it."

      CZI president Zed Rusike said in a statement: "Industry is in a state of decline and this turn of events will hasten the closure of companies, thereby increasing unemployment."

      The impact of the veterans` terror in urban areas is already being felt.

      Dezign Incorporated, a Harare textile and printing firm that was shut down by the veterans last month, has lost $6 million in unfilled orders since its enforced shutdown and could close permanently if the rampage does not end soon.

      Bulawayo-based textile firm Merspin Limited could lose a potential white knight investor that would have ended its three-year stint in provisional liquidation following the storming of its premises by the veterans accompanying workers retrenched in 1997.

      "One can`t expect the economy to work this way," a bank economist said. "It`s becoming difficult for anyone to see where the economy is going at this rate."

      The analysts said the veterans` rampage was also threatening the little donor aid which Zimbabwe had by targeting international non-governmental organisations (NGOs) that are perceived to be supporting the opposition Movement for Democratic Change.

      ZANU PF supporters raided a German NGO and forced it to pay $600 000 to two former employees and the mobs are expected to target more NGOs and foreign embassies shortly.

      Diplomatic sources said these tactics would jeopardise aid being channelled through civic organisations in the country, which has had to do without foreign balance of payments support since 1999 because of the government`s skewed economic policies and disregard for the rule of law.

      "Some of these embassies and NGOs that have been helping Zimbabwe might begin to think twice," one analyst said.

      Hawkins added: "The real problem is the breakdown of law and order. Industrial relations have now become the province of party politics and kangaroo courts. The war veterans are trying to usurp the role of the trade unions, the Ministry of Labour and the courts and, at the same time, Jonathan Moyo is saying Zimbabwe respects the rule of law."

      The analysts and business leaders said if the government failed to rein in its illegal militia, it would be shutting the door to potential aid from multilateral institutions as well as local and foreign investment, driving the economy further into recession.

      The CZI`s Rusike said: "It is in the interests of everyone - government, employees, employers, investors and foreign bu-yers of our exports - that we are seen to be a disciplined, reliable society.

      "CZI calls on the relevant authorities to stop this latest trend with extreme urgency by the application of understandable justice and firmness. The departure from a stable environment into one of arbitrary, self-developed, intimidatory activity shows complete disregard for Zimbabwean laws and will drive the nation into total anarchy and do irreparable damage to industry.

      "If we are to expect a recovery of our economy, then it is imperative that sanity prevails."

      http://www.fingaz.co.zw/fingaz/2001/April/April26/1455.shtml
      Avatar
      schrieb am 04.05.01 03:56:20
      Beitrag Nr. 133 ()
      Gold Sector Subsidy to Suck $3b From Fiscus


      Financial Gazette (Harare)

      May 3, 2001
      Posted to the web May 3, 2001

      Nqobile Nyathi Business News Editor
      Harare

      The government`s subsidy to Zimbabwe`s troubled gold mining industry, which took effect last month, could cost the national fiscus an unbudgeted $3 billion this year, according to market analysts.

      Under the gold floor price support scheme, reintroduced two weeks ago, producers will be paid US$343 ($18 865) an ounce of gold if the prevailing international price falls below the Zimbabwe dollar equivalent of US$343, believed to reflect the current cost of gold production.

      In announcing the measures, the Ministry of Mines and Energy said the difference between the market price and the floor price would "constitute a direct subsidy to producers by the government" instead of a loan as had been the case in the past.

      Market analysts said this week that at Monday`s international gold price of US$263 ($14 465) per ounce, which fell from Friday`s US$264 ($14 520), the government subsidy would be US$80 ($4 400) an ounce.

      Professor Anthony Hawkins, a lecturer at the University of Zimbabwe`s Graduate Business School, said the government subsidy for the whole of 2001 was "the number of ounces (expected this year) multiplied by US$80".

      The Ministry of Mines and Energy believes Zimbabwe, where several gold producers have closed mines because of an unstable operating environment, can expect gold output to fall about 21 percent this year to 706 000 ounces.

      The analysts said if the international price of gold remained at between US$263 and US$264 this year, translating into a subsidy of US$79 ($4 345) and US$80 per ounce, the total government subsidy for 2001 would be between $3.08 billion and $3.11 billion.

      Economic consultant John Robertson told the Financial Gazette: "The subsidy can be worked out fairly precisely. The actual price at the moment is US$263 and they (government) are offering US$343, which is a subsidy of US$80 per ounce.

      "If you multiply that by an exchange rate of $55, the subsidy is $4 400 per ounce. At 706 000 ounces this year, it works out to $3.106 billion."

      But gold industry executives this week said the subsidy could be higher if the international price of gold, which traded between US$256 and US$273 an ounce in the first quarter of this year, fell from that range as has been forecast by some analysts.

      One executive said: "If the price rises to as much as US$273, the government would theoretically pay out $2.7 billion if the industry produced 706 000 tonnes of gold this year, which is still close to $3 billion.

      "But there have been some forecasts that gold could move down from the US$256 to US$273 range of the first quarter and, if it does, there could be a huge difference between the floor price and the market price.

      "This is unbudgeted expenditure and it`s not sustainable. Most people would have preferred to see the government effecting a devaluation instead of a subsidy."

      The gold floor price support scheme has devalued the local currency from the official US$55 against the American greenback to around $72, but gold mining companies still have to buy foreign currency on the parallel market at $120 to import inputs.

      As a result, although the support scheme will bring revenues in line with production costs, the industry does not expect it to completely eliminate its problems and is hoping the government will take more support measures.

      "We hope the government will continue to introduce more measures that will help to maintain production and also stimulate growth in the sector," said Zimbabwe Chamber of Mines chief executive David Murangari.

      An economist with a Harare commercial bank added: "The scheme will certainly prop up a few gold companies, but it won`t completely solve their problems. The government will incur additional expenditure for a scheme that might just tackle half the problem.

      "If they had bitten the bullet and just devalued the Zimbabwe dollar, this would have been a much more sustainable solution. As it is, the gold producers will still desperately need other measures that the government has promised them."


      --------------------------------------------------------------------------------

      Copyright © 2001 Financial Gazette. Distributed by AllAfrica Global Media (allAfrica.com).

      http://allafrica.com/stories/200105030303.html
      Avatar
      schrieb am 04.05.01 03:57:33
      Beitrag Nr. 134 ()
      Zimbabwe Ngezi Platinum Mine May Begin Production in 2002


      HARARE (Dow Jones)--Zimbabwe`s Ngezi opencast platinum mine could be producing its first ore within a year, according to Roy Pitchford, chief executive of the overall project developer Zimbabwe Platinum Mines Ltd., or Zimplats.

      At full production the mine should produce 2.2 million metric tons of ore a year, yielding 208,000 troy ounces of platinum group metals, he said.

      Ore will be trucked from the mine to the Selous treatment plant, which was built to process material from the nearby mothballed Hartley platinum mine. The mine and plant were developed by BHP Australia Ltd. and were sold to Zimplats in February.

      Delta Gold Australia, which owned a majority stake in Zimplats, has sold 15% to Impala Platinum Holdings Ltd. (O.IM) of South Africa and another 15% to Absa Bank Ltd. (O.ASA) of South Africa. Impala paid $30 million for its share while Absa is providing $30 million for the Ngezi/Selous project.

      Total costs of Ngezi and re-opening the Selous plant have not been divulged but are estimated by industry analysts to be about $80 million.

      -By Martin Rushmere, Dow Jones Newswires; +263 4 339617; martinr@zol.co.zw

      -0- 03/05/01 14-09G (END) Dow Jones Newswires 03-05-01

      1409GMT Copyright (c) 2001 , Dow Jones & Company Inc~200105031409
      Avatar
      schrieb am 04.05.01 04:51:20
      Beitrag Nr. 135 ()
      http://www.fm.co.za/01/0427/busec/dbusec.htm

      27 April 2001
      ZIMBABWE
      NO SMOKE WITHOUT FOREX
      By Tony Hawkins, Harare


      Gold industry gets devaluation

      No doubt SA gold producers turned green with envy last week when they read of Harare`s gold subsidy plan. This guarantees gold exporters an effective price of US343/oz - 32% above the world price, though still short of the demand by Falcon Gold for a 50% devaluation and a 25% reduction in its electricity bill.

      In effect, Zimbabwe`s government is giving gold producers a 24% devaluation, taking the exchange rate for gold producers to Z72,50/US compared with the present official rate of Z55. In fact, the devaluation is rather greater because gold producers are allowed to retain 25% of their export revenues, which they can then trade in the parallel market, now ranging from Z110 to Z120 to the US dollar.

      The announcement of the gold subsidy, which will cost Harare more than Z3bn (U55m) that was not in the Budget, has fuelled speculation that devaluation is imminent. With the opening of the tobacco auctions on Tuesday , farmers hoped that they too would be granted devaluation. They claim their costs have more than doubled over the past 18 months and that even at an exchange rate of Z72,50 many would struggle to break even.

      It has not been a good year for tobacco. The crop will be down about 50m kg (about 22%) at around 185m kg.

      The good news is that Brazil has a short crop and prices in that market are up about 15% this year. If Zimbabwe gets similar treatment from the merchants, the average price should firm to around US195c/kg from last year`s 169c.

      In local currency, assuming no devaluation and no special treatment for tobacco such as the gold mines now have, prices will be no more than 20% higher than last year`s, while yields will be lower and, with costs doubling, many growers say they will be forced out of business.

      Since government has "rescued" the gold sector, it might seem logical that tobacco - and other exporters - should receive parallel treatment. But logic has little part to play in economic policy in Zimbabwe today. There is no way the authorities could afford to subsidise the tobacco crop in the same way and to the same extent as the gold industry.

      This year, as last, the tobacco sales will probably start with a whimper, with few farmers being prepared to deliver leaf until the inevitable devaluation. In 2000, growers were made to wait until August 1 before getting a 24% devaluation. This time the wait is likely to be shorter, but the devaluation, when it comes, is likely not only to be "too little too late" but also accompanied by new currency controls.
      Avatar
      schrieb am 05.05.01 10:42:00
      Beitrag Nr. 136 ()
      Moin gholzbauer,



      Leichter lesbar :)

      Grüße

      1Meyer
      Avatar
      schrieb am 05.05.01 11:09:38
      Beitrag Nr. 137 ()
      Hallo 1Meyer,
      dieser Hunzvi hat doch wirklich einen Sprung in der Schüssel. Ich frage mich schon, ob Mugabe überhaupt noch die Zügel in der Hand hat. Aufgrund der sich wieder verschlechternden Lage im Land wird ZIM.AX leider wieder mehr zu einem Zockerwert, wirklich schade angesichts der guten Entwicklungsmöglichkeiten.
      MfG
      Avatar
      schrieb am 07.05.01 08:07:31
      Beitrag Nr. 138 ()
      http://library.northernlight.com/FC20010503570000109.html?cb…

      Zimplats` Ngezi Project Could Start Next Year

      Story Filed: Thursday, May 03, 2001 2:20 PM EST

      Harare, May 03, 2001 (Financial Gazette/All Africa Global Media via COMTEX)-- Zimbabwe Platinum Mines Limited (Zimplats)` Ngezi/Selous Metallurgical Complex (SMC) project, which secured financing in March, could be ready for commissioning at the beginning of next year, Zimplats chief executive Roy Pitchford said this week.

      The project involves combining Ngezi mine with the SMC - that is the mill, concentrator and smelter which form part of the surface metallurgical processing plant of the defunct Hartley Platinum Mine.

      In February Zimplats, through its subsidiary Hartley Management Company (Private) Limited (HMC), took over management of Hartley Platinum Mine from Australia`s Broken Hill Proprietary and began preparing for the re-commissioning of the SMC.

      The Ngezi/SMC project received funding in March from South Africa`s Absa Bank Limited, which will provide US$30 million ($1.7 billion) debt funding to HMC, to be drawn down over 12 months during the construction period and repaid in four equal six-monthly installments over the subsequent two years.

      Development commenced in some key elements of the project last month after Impala Platinum Holdings (Implats), which together with Absa, bought a 30 percent stake in Zimplats in March, agreed to advance a portion of its HMC share subscription funding as a loan to the Zimplats subsidiary.

      "We are combining the Ngezi open cast-mine with the Selous Metallurgical Complex, which is part of the surface facilities at Hartley Platinum Mine, that`s the first stage of the project," Pitchford told the Financial Gazette.

      "We`re hoping that by early 2002, we`ll be producing ore from the Ngezi open- cast mine and the Hartley surface infrastructure will be ready to commission."

      Once operational, the Ngezi open-cast mine will produce 2.2 million tonnes of ore per year to produce 208 000 ounces of platinum group metals and gold in smelter matte from the Selous Metallurgical Complex.

      Pitchford said the mine would also directly create about 600 jobs and 400 others for contractors and other support staff.

      "There could be other jobs created, although it`s impossible to say how many at this stage," he said.

      Meanwhile, in its report for the quarter ending March 2001, Zimplats said it would hold a shareholders` meeting at the end of this month to approve the acquisition of 30 percent of the company by Implats and Absa.

      The report said Absa and Implats had indicated that they would wish to be considered as investors and financiers for future platinum production projects that Zimplats envisages developing in Ngezi, Selous and Mhondoro.

      Zimplats is also continuing negotiations for the National Investment Trust of Zimbabwe (NIT) to take up a placement of 13.3 million shares - that is 15 percent of the company`s issued capital.

      This is part of the agreement reached with the government last year for Zimplats to take over control of Hartley Platinum Mine.

      "The NIT, assisted by a Zimbabwe merchant bank and Absa, is investigating a number of potential sources of finance for the placement," Zimplats told shareholders. "The shares are to be issued for Australian dollars at a market- related price.

      "In terms of the framework agreement with the government of Zimbabwe, there is no time limit for the NIT to take up the placement of shares. However, in terms of the shareholder approval for the placement that the directors of Zimplats intend to obtain, the placement will need to be taken up within three months of shareholders approving the placement."

      The company said in the event of NIT not taking up the placement, Zimplats would evaluate other means by which the 15 percent equity could be made available to the organisation.

      by Staff Reporter

      Copyright Financial Gazette. Distributed by All Africa Global Media(AllAfrica.com)


      KEYWORD: Zimbabwe
      Economy, Business and Finance
      Mining
      Avatar
      schrieb am 14.05.01 21:38:15
      Beitrag Nr. 139 ()
      Monday May 14, 11:35 am Eastern Time
      Search for platinum metals gets new impetus -JM
      (UPDATE: Updates with price details para 4, North American mine details paras 10-16)

      By Lesley Wroughton

      TORONTO, May 14 (Reuters) - Record or near-record prices for platinum and palladium have cut demand, but higher revenue has triggered new exploration in North America and tempted firms to try their luck in Zimbabwe.
      ADVERTISEMENT



      British platinum refiner Johnson Matthey (quote from Yahoo! UK & Ireland: JMAT.L) said in a report released Monday that higher prices more than doubled output in Canada and the United States in 2000 and revived interest in Zimbabwe.

      ``While there is no question that South Africa and, to a lesser extent, Russia will continue to dominate world PGM (platinum group metals) production for the foreseeable future, high prices are encouraging the development of PGM mining in other countries,`` the report said.

      After two years of shortfalls, prices for platinum and palladium both surged last year. Platinum rose to $625 an ounce in December after starting the year around $400, while palladium jumped from $440 in January to new highs of $972 by end-2000.

      Johnson Matthey said growing output in Canada, the United States and Zimbabwe could add over 800,000 ounces of palladium and 350,000 ounces of platinum to world output by the middle of the decade.

      Exploration projects announced in the last two years in North America are not expected to add supply since they are several years from commercial production.

      Gordon Bassett, Johnson Matthey`s general manager of precious metals division, said production was slow to evolve in North America -- until prices spiked and auto makers increased their use of palladium in catalytic converters, which are used to control emissions from vehicles.

      ``The focus in recent couple of years has been somewhat led by the increase in prices and the insatiable demand that the car companies have had for palladium,`` Bassett told Reuters.


      NORTH AMERICAN MINES

      Four miners lead in North America -- Inco Ltd (Toronto:N.TO - news), the western world`s biggest nickel producer, Falconbridge Ltd (Toronto:FL.TO - news) and North American Palladium (Toronto:PDL.TO - news) in Canada, and Stillwater Mining Co (AMEX:SWC - news), the only PGM producer in the United States.

      In North America, PGM supplies rose to 635,000 ounces from 285,000 last year as the four firms expanded existing output or found new sources.

      North American Palladium and Stillwater are primary producers of PGMs, while Inco and Falconbridge have traditionally produced PGMs as by-products of nickel and copper mining. Inco has now started mining a small deposit at the Copper Cliff North mine that is reported to hold 300,000 tonnes of ore with over 16 grams of PGM per tonne.

      Johnson Matthey said this was exceptionally rich compared with typical Sudbury ores averaging less than 2 grams a tonne.

      Falconbridge`s Raglan mine in northern Quebec -- another significant source of by-product PGM -- was expanded recently and was seen boosting output.

      North American Palladium produced about 95,000 ounces of palladium last year, up nearly 50 percent from 1999, at its mine in Lac des Illes. Major expansions at the mine could raise output to an average 250,000 ounces, Johnson Matthey said.

      Stillwater operates a mine at Nye in Montana and has a three-year expansion plan to raise refined PGM output to 665,000 ounces in 2003 from 500,000 planned for 2001.

      The firm is building a mine at nearby East Boulder with planned output of more than 400,000 ounces of PGMs annually.


      ZIMBABWE PRODUCTION

      In Zimbabwe interest in PGM production has been rekindled by the higher prices despite deep political and economic woes including delays in paying debt, seizures of white-owned land and a crackdown against opponents of President Robert Mugabe.

      The government has proposed a more favourable tax regime for platinum miners to stimulate new investment.

      Over the years a series of trial mines and one large project have closed, leaving the small Mimosa mine in southern Zimbabwe as the only current producer. Its output fell by 65,000 ounces to around 15,000 ounces in 2000.

      There is now a possibility of modest expansion at Mimosa, which is owned by chrome mining company Zimasco.

      Johnson Matthey said that although a proposed acquisition of Zimasco by London-listed mining giant Anglo American (quote from Yahoo! UK & Ireland: AAL.L) collapsed last year, other South African platinum producers could buy Mimosa and fund an increase in output.

      Zimplats recently announced it had raised funds to develop its Ngezi open-pit mine, with Impala Platinum Holdings Ltd taking a 30 percent stake in the project. Production at Ngezi is planned to start in 2002.

      Anglo American`s Unki project in central Zimbabwe has been stalled by political problems, but Johnson Matthey said prospects of a new tax regime could revive the project.
      Avatar
      schrieb am 18.05.01 12:13:17
      Beitrag Nr. 140 ()
      Die zimbabwische Regierung tut einiges, um ausländische Investoren noch mehr abzuschrecken. Großartig, weiter so!!! :mad:

      ----------------------
      http://www.fingaz.co.zw/fingaz/2001/May/May17/1662.shtml

      Mining sector concerned over proposed new tax

      Own Correspondent
      5/17/01 7:29:07 PM (GMT +2)

      NYANGA — Zimbabwe’s mining sector this week voiced deep concern at the government’s intention to introduce a ring-fencing tax — the taxation of business profits — saying the new measure was a final nail in the coffin of an already struggling industry.



      The government, proposing changes in the mining industry’s fiscal regime, has suggested the introduction of the ring-fencing tax, arguing that mining operations are not contributing any meaningful revenue to the fiscus.

      Although welcoming some of the changes the government is proposing, the Chamber of Mines of Zimbabwe, the sector’s representative body, said at the weekend that the introduction of the new tax would be a fatal blow to the bottom line of a majority of mining operations, many of which are already in the red.

      "In the proposed new fiscal regime, an observation is made that mines have contributed little towards tax revenue," Chamber of Mines president James Maposa told delegates to the chamber’s annual general meeting held here.

      "This observation fails to appreciate the extent of small-to-medium-sized mines which have characterised our industry and the impact these mines have on infrastructural development."

      The mining sector, which five years ago was contributing at least eight percent to gross domestic product, has fallen on hard times, with mineral production value now down at US$438 million from US$612 million in 1996.

      Between 1998 and 1999, the loss in production value was equivalent to 20 percent, industry statistics show.

      Maposa told the delegates that the proposed ring-fencing tax would speed up the closure of existing mines, which are currently being kept afloat by the support of other profit-making mining operations.

      He blamed the industry’s poor performance on a shortage of foreign currency, high inflation and the prohibitive cost of borrowing money.

      The sector had also been hard hit by fuel shortages, frequent power cuts, depressed mineral prices and, lately, political violence which has spilled over to factory floors and the corridors of commerce.

      "Recent events, where some mines have been threatened with violence and seizures, have become a real concern regarding security of tenure," Maposa said.

      Mines Minister Sydney Sekeramayi promised delegates his ministry would intervene if mining operations were threatened by ruling ZANU PF supporters who are raiding companies and extorting money in the name of resolving labour disputes.

      He conceded that the decline in mining productivity was linked to "negative perceptions about Zimbabwe" in general and that problems with the war veterans and ZANU PF supporters were further compounding an already bad situation.

      "When the global downturn (in the mining industry) coincides with local political turbulence, the problems become compounded," the minister said.
      Avatar
      schrieb am 23.05.01 09:06:03
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      Avatar
      schrieb am 29.05.01 15:34:15
      Beitrag Nr. 142 ()
      Zimplats confident of Hartley success
      Sydney Morning Herald - ABIX - Australasia; May 29, 2001
      BY JANE COUNSEL

      Zimbabwe Platinum Mines (Zimplats) believes it can successfully operate the Hartley platinum underground mine in Zimbabwe. The Australian mining company`s managing director, Roy Pitchford, told shareholders on 28 May 2001 that Zimplats is confident of eventually re-opening the Hartley mine, which was closed by former Australian owner, BHP, in 1999. South Africa`s Impala Platinum recently acquired a 30% stake in Zimplats. Impala is an expert in underground platinum mining. BHP was forced to close down the mine after encountering problematic operational issues, which cost the company $A662m. Zimplats acquired BHP`s 67% stake in the mine for only $A4.5m. Zimplats was created when Delta Gold spun off its platinum assets in 1998. Zimplats shares rose $A0.02 to $A0.94.
      Avatar
      schrieb am 05.06.01 01:18:01
      Beitrag Nr. 143 ()
      http://allafrica.com/stories/200106040257.html

      Mining Firms Put Off By Provisions of New Finance Act


      Financial Gazette (Harare)

      June 4, 2001
      Posted to the web June 4, 2001

      Staff Reporter
      Harare

      Provisions in the newly promulgated Finance Act 2000 that prevent mining companies from claiming expenditure on exploration as an expense for tax purposes could discourage exploration by local mining companies, according to Rio Tinto Zimbabwe outgoing chairman Jim Back.

      "Exploration is the mining equivalent of industrial research and development," he said in a statement to the company`s annual general meeting last week.

      "For tax purposes, industrial experimental and research expenditure on a new process or product is allowed as an expense whether successful or not. "However, the Finance Act 2000 indicates that mining companies will no longer be able to claim expenditure on exploration as allowable expense as any expense can only be claimed in respect of expenditure or losses attributable to a particular mining location." Back said the exploration expense would have to be carried forward until a new mine was developed, which might not be possible because not all exploration expenses resulted in the development of a new mine.

      The exploration process can be lengthy and costly and involves applications for exclusive prospecting orders (EPOs), sampling and drilling, as well as geological and logistical surveys, which can result in the registration of a claim, extension of the EPO or its abandonment. "Not all exploration is successful.

      Since we started our major exploration programme in 1992, the company has taken out 121 EPOs and abandoned 43 of them with only one, Murowa, so far producing an exploitable resource," said Back. He added: "As a company which was founded on exploration almost 50 years ago and which has maintained an exploration activity throughout its life, we welcome incentives which encourage us to continue finding more Sengwa coalfields and Murowa kimberlites." Back said the ring fencing provisions included in the Finance Act 2000, which require changes being made to a company`s accounts for tax purposes so that overheads, interest and the cost of group services can be apportioned to individual operating locations, would also have adverse consequences for the mining sector.

      The provisions could affect investment decisions where a group operates several mines of differing viabilities, Back said. Meanwhile, he said Rio Tinto, which will increasingly use the appellation RioZim to distinguish itself from its major shareholder Rio Tinto plc, had made a poor start to the year, recording a $30 million pre-tax loss in the first quarter of 2001.

      "The loss stemmed from the continued strong official exchange rate used by the Reserve Bank to calculate payments to gold producers coupled with operational problems at the Empress Refinery and Patchway," Back told shareholders. "Patchway experienced difficulties maintaining grade as a result of a combination of supervisory and geological factors.

      The provision of additional resources to the mine has restored production to more normal levels in April." He said the introduction of a support scheme for the gold mining sector in April had sparked some optimism for operations in the rest of the year at Rio Tinto, whose board is now being chaired by Eric Kahari of Zimnat Insurance.

      Copyright © 2001 Financial Gazette. Distributed by AllAfrica Global Media (allAfrica.com).



      --------------------------------------------------------------------



      Zimbabwean Govt. Urged to Stop Foreigners From Buying Mineral Claims
      Source: Xinhua News Agency - CEIS
      Publication date: 2001-06-01
      Arrival time: 2001-06-04

      The National Miners Association of Zimbabwe Friday said that there is need for the government to make political decisions to prevent foreigners from buying mineral claims in the Great Dike, a stretch of region rich in mineral resources in the country.
      President of the association Giles Munyoro told Zimbabwe News Agency that giving mining concessions to foreigners has negative effects on local miners.

      "Land and mineral resources must never be for sale because they are state property," he said, adding that a lot of minerals such as tantalite used in alloys for steel are being taken out of the country by these foreigners.

      Munyoro called on the government to avail financial resources to benefit small-scale miners as the mining sector has the potential to uplift the life of ordinary Zimbabweans.

      Mining, which has been one of biggest foreign currency earners in Zimbabwe, is now being affected by the closure of many mines due to viability problems.

      Publication date: 2001-06-01
      © 2001, YellowBrix, Inc.
      Avatar
      schrieb am 08.06.01 05:38:03
      Beitrag Nr. 144 ()
      Friday 8 June 1:39 AM



      Zimplats sees 2.2 mln ounces platinum from Ngezi
      By Stella Mapenzauswa
      HARARE, June 7 (Reuters) - Zimbabwe Platinum Mines (Zimplats) Chief Executive Officer Roy Pitchford said on Thursday first phase development of its platinum project was underway and full production is expected by May 2002.

      Development work on Zimplats` Ngezi/SMC project in central Zimbabwe, including construction of an open cast mine, had begun in April, Pitchford told a media briefing in Harare.

      "Full production from the project is expected to be achieved in May 2002 and full revenue by June 2002," Pitchford said.

      Zimplats owns 70 percent of the project and South Africa`s Impala Platinum Holdings Limited (Implats) has 30 percent.

      Zimplats plans to extract 2.2 million ounces of platinum and 1.8 million ounces of palladium over 20 years out of Ngezi/SMC Project, which comprises the Ngezi open cast mine and the Selous Metallurgical Complex.

      SMC is a surface metallurgical processing facility that was bought by Zimplats from Australia`s BHP Minerals.

      Zimplats owns 2.4 billion tonnes of ore reserves in Zimbabwe, representing one of the largest undeveloped platinum resources in the world, Pitchford said.

      "(It has) a potential to produce 316 million ounces of precious metals. The outside world, particularly in the platinum industry is suddenly waking up to this giant," he said.


      PROJECT TO COST $47M

      The major shareholders in Zimplats, listed on the Australian Stock Exchange, are Delta Gold, which has reduced its stake to 21 percent from 51. Implats and South African bank Absa each own 15 percent.

      The Ngezi/SMC Project is estimated to cost US$47 million. Implats will provide $30 million through a subscription for new shares and Absa will provide a $30 million project debt facility.

      The first phase of production is expected to yield 98,000 ounces of platinum, 82,000 ounces of palladium, 12,000 ounces of gold, 8,000 ounces of rhodium, 1,300 tonnes of nickel and 1,000 tonnes of copper.

      Pitchford projected a cash operating margin of $50 million per year in the first two years. The next two years would see lower margins of about $16 million per year, given projections of a sharp fall in platinum group metal prices.

      The project would initially create about 1,000 new jobs.

      Foreign investors were showing a keen interest in the project despite international concerns about the rule of law in Zimbabwe, Pitchford said.

      Several foreign mining companies had either suspended operations or put on ice planned investments until stability returned to the southern African country.

      "The absence of rule of law is of concern to every citizen (but) this mine is going to be operating for 100 years and investors are looking beyond the current troubles," he said. (c) Reuters Limited 2001

      REUTER NEWS SERVICE
      Avatar
      schrieb am 08.06.01 15:51:57
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      schrieb am 15.06.01 04:37:04
      Beitrag Nr. 146 ()
      http://www.fingaz.co.zw/fingaz/2001/June/June14/1983.shtml

      Zimplats builds $1b road to boost mining projects

      Staff Reporter
      6/14/01 8:33:00 PM (GMT +2)

      ZIMBABWE Platinum Mines Limited (Zim-plats), a mining group, has started building a US$17 million (about $1 billion) all-weather highway that will link Selous and Mhondoro-Ngezi by the end of this year.


      The firm, which is building the 77-km long road as part of its mining projects in Zimbabwe, intends to use the road to transport more than 40 million tonnes of platinum ore from the Mhondoro-Ngezi area to its metallurgical complex in Selous.

      Zimplats director Waddilove Furusa last week took journalists on a tour of the project, billed by the group as a first in Zimbabwe.

      Furusa said although Zimplats was wholly financing the project, the road would be a national highway used by all traffic.

      "We are building a new all-weather nine-metre wide sealed road between the Ngezi open-cast mine and the Selous Metallurgical Complex," he said. "The 77-km road will be part of the national highway system and will be administered by the government after construction."

      Work on the road is being done by a consortium of the country`s most reputable civil engineering firms, which have made a commitment to complete the highway before the end of the year.

      "We have a number of construction firms that are working on the road. Each company was given a portion of the road to work on, depending on its capacity and the agreement is that the road should be complete by December," Furusa said.

      The entire 77-km stretch through which the road will run has already been cleared and the construction firms are at various stages of developing their respective portions.

      According to the road`s plan, it is going to have three bridges over large rivers that it will pass through.

      "Apart from the three bridges, we are going to build a large roundabout where this new road intersects with the Harare-Bulawayo road. Ideally we should have constructed a fly-over bridge, but because of the costs we will build a round-about which is cheaper," Furusa said.

      He said it would have cost the firm about US$2 million (about $110 million) to build the fly-over bridge compared to the US$500 000 ($27.5 million) they would spend on the roundabout.

      Furusa said the government had negotiated compensation with farmers through whose properties the road runs and about $5 million had been paid to these farmers and other people affected by the project.

      He said the road would be available for public use during the lifetime of the mine, when 100-tonne road trains will regularly ferry ore to the smelter in Selous.

      "The only difference between this and other roads is that it will be the only one where road trains will be allowed to operate. For safety reasons, we will be obliged to display signs indicating the length of the vehicles," he said.

      The longest vehicles allowed to use Zimbabwe`s conventional highways are 22 metres in length, but the 100-tonne road trains which will operate on the road will be up to 40 metres long.

      The road trains will be similar to those used in developed countries and an international firm with experience in operating these vehicles has been contracted to run the trains in Zimbabwe.
      Avatar
      schrieb am 28.06.01 18:40:09
      Beitrag Nr. 147 ()
      PGM supplies -
      New mines and expansions in North America and Zimbabwe
      http://www.platinum.matthey.com/publications/8-spcanzim.pdf
      Avatar
      schrieb am 29.06.01 02:32:59
      Beitrag Nr. 148 ()
      http://allafrica.com/stories/200106280190.html

      Gold Production Down 25 Percent


      The Insider (Harare)

      June 27, 2001
      Posted to the web June 28, 2001

      Staff Writer
      Harare

      Gold output declined by 20 percent last year from 27.5 tonnes to 22 tonnes. It further declined by 25.8 percent in the first two months of this year compared to the same period last year. Value of the gold declined by 35.1 percent. The NMB Bank says in its latest quarterly bulletin the drop in production has largely been because of the fixed exchange rate which has seen the Zimbabwe dollar pegged at $55 to a United States dollar since October 17, last year.

      It says since inflation has average 57.3 percent during the same period, Zimbabwe s export competitiveness has significantly declined since then. This control of the dollar has negatively affected gold production since the gold price in US dollar terms has virtually been static in 1999 and 2000 only increasing from US$279 to US$280 in 2000. This translates to a Zimbabwe dollar average rice, at the official exchange rate, of $400 637 per kg in 2000, an increase of 17 percent on the 1999 average. This is well below cost increases of electricity, fuel and transport that were all in excess of 50 percent, the bulletin says.
      Avatar
      schrieb am 02.07.01 07:40:16
      Beitrag Nr. 149 ()
      #%*&@µ€!!!!!


      http://globalarchive.ft.com/globalarchive/articles.html?id=0…

      Zimbabwe: Veterans reportedly storm gold mine, destroy homes, attack residents
      BBC Monitoring Service - United Kingdom; Jun 28, 2001



      Text of report by Zimbabwean newspaper Financial Gazette web site on 28 June

      A mob of 200 suspected ZANU-PF supporters and war veterans stormed Shamva gold mine in Mashonaland Central on Tuesday [26 June], destroying homes and attacking residents suspected of being supporters of the opposition Movement for Democratic Change (MDC), a mine official said yesterday.

      Six houses were destroyed in the mine compound while scores of people were wounded, 10 of them seriously.

      One of the wounded had to be transferred to Harare Hospital while another is recovering at Bindura General Hospital, according to Joseph Kaitano, a security officer at the compound.

      "It was a disaster, to say the least, as windows, doors and roofs were shattered. The violence left most people terrified as it happened in broad daylight and the attackers promised to come back again anytime," Kaitano told the Financial Gazette by telephone from Shamva.

      Police in Shamva confirmed the incident but said calm had now returned to the mine. They refused to give out any further details, referring all questions to the police general headquarters in Harare.

      Police spokesman Wayne Bvudzijena yesterday confirmed that there had been violence in the area but said he had failed to get in touch with Shamva for a detailed police report.

      Kaitano said police from the paramilitary support unit arrived at the mine at around 4 p.m. [local time] but drove off without making any arrests.

      Joseph Mashinya, the losing MDC parliamentary candidate for Shamva, said the ruling party was targeting MDC members because the opposition was gaining wide support as the country approaches crucial presidential elections due next year.

      "ZANU-PF knows the area is an MDC stronghold and has resorted to terror tactics ahead of the election instead of mounting a clean campaign," he charged.

      A manager at the gold mine who refused to reveal his name for fear of further victimization said management had launched an investigation into the attack.

      Meanwhile, there have been reports that the governing party`s terror campaign has descended on Bindura, about 100 km north west of Harare.

      Joseph Chinotimba, the ruling party`s self-styled commander of farm invasions, was reported to have been seen in Bindura to help the campaign of Mashonaland Central provincial governor, Elliot Manyika.

      Manyika is contesting the Bindura by-election against the MDC`s Elliot Pfebve. The seat became vacant after the death of Border Gezi, the former minister of youth, gender and employment creation.

      "I have been seen in Bindura, is that your business? We have been campaigning here since the death of Gezi," Chinotimba told the Financial Gazette.

      Source: Financial Gazette web site, Harare, in English 28 Jun 01

      /BBC Monitoring/ © BBC.
      Avatar
      schrieb am 02.07.01 07:44:51
      Beitrag Nr. 150 ()
      http://www.africaonline.co.zw/mirror/stage/archive/010629/bu…

      Friday 29 June, 2001

      Zimbabwe’s gold production drops by 24,1 percent
      Mirror Reporter

      THE closure of at least five major gold mines in the country has resulted in a 24,1 percent drop in gold production in the first quarter of this year.

      Zimbabwe’s gold production drops by 24,1 percent Mirror Reporter THE closure of at least five major gold mines in the country has resulted in a 24,1 percent drop in gold production in the first quarter of this year.

      According to the latest Barclays Bank of Zimbabwe Ltd Economic Bulletin, gold production fell to 4 776 kilograms, compared to 6 297 kg in the first three months of last year.

      Some of the major gold mines that have suspended or reduced operations include Venice Mine, Eureka Gold Mine, Falcon Mine, Connemara and Indarama Gold Mines. Some have just scaled down production. The affected mines cited the delays by the Reserve Bank of Zimbabwe in adjusting the exchange rate, which had a severe effect on mining production and export receipts. For a short period last year, gold producers enjoyed some profits after the devaluation of the Zimbabwe dollar in September and October, “but experienced a renewed profit decline after the exchange rate was fixed in October.” Captains of industry and commerce are calling for the government to further devalue the local currency to trade between Z$80 and Z$100 to US$1. Currently, the exchange rate is fixed at US$1 to Z$55. The government through the RBZ recently introduced a new rescue package for the gold producers following the announcement by one of the larger mines that it also intended to close down operations.

      In terms of a new floor price support scheme, the Reserve Bank of Zimbabwe is buying gold from the mines at US$343 an ounce. “This amounts to an effective exchange rate of about Z$72 per US dollar for gold mines alone, compared to the rate of Z$55 to one for all other exporters,” says the Bulletin. Falcon Gold, one of the leading gold mines in the country, says it will operate until the end of August when its management would consider the next move.

      Falcon, which is owned by Luxembourg-based Falcon Mines Societe, threatened to cease operations this year because of the unfavourable economic climate.

      Although the gold produced locally is exported by the RBZ and not by the mining companies themselves, 20 percent of the world market price of the gold sold to the RBZ is paid in hard currency to the mines. “This foreign exchange can be used either to source imported requirements for the mines or sold into the market. For the direct exporters of other products, the producers can retain 75 percent of the foreign exchange proceeds,” notes the Bulletin. The critical shortage of foreign currency, which has dogged the country for nearly two years now, has particularly affected the gold mining sector leading to reduced production.

      Gold production for the year 2000, at 22,7 tonnes is nearly six tonnes short of the 1999 production of 27,67 tonnes.
      Avatar
      schrieb am 14.07.01 14:23:59
      Beitrag Nr. 151 ()
      Boah, ist das öde. PGM dauernd auf dem Rückzug, und ich bin bei ZIM immer noch nicht aus der Spekulationsfrist. 12 Monate können verdammt lang sein.
      Schönen Dank auch an Schröder & Co. für die Verdoppelung der Frist gleich als eine der ersten Maßnahmen nach dem Regierungswechsel! :mad:
      Avatar
      schrieb am 09.10.01 07:57:36
      Beitrag Nr. 152 ()
      Na super, nach Absitzen der Speku-Frist nur noch 0.9-0.85 A$ bekommen!
      Aber Hauptsache, der Eichel kriegt keinen roten Heller von mir! :D


      --------------------

      DJ S Africa`s Impala Sees First Zimbabwe Platinum In January



      JOHANNESBURG (Dow Jones)--South Africa`s Impala Platinum Holdings Ltd. (O.IM) expects to process its first platinum group metals concentrate from neighboring Zimbabwe in January, a company spokesman said late Friday.

      Les Paton, an Impala executive with responsibility for the group`s expansion into Zimbabwe, said Zimbabwean PGM concentrate will initially be transported to South Africa for treatment until smelting facilities are operational in Zimbabwe.

      Impala, the world`s second-largest platinum producer with annual output of 1.3 million ounces, expanded into Zimbabwe earlier this year through a $30 million investment in platinum operations abandoned in the late 1990`s by BHP-Billiton Ltd. (BHP).

      Its investment included the purchase of a 15% holding in Zimbabwe Platinum Mines Ltd. (A.ZIM), whose major shareholder is Delta Gold Ltd. (A.DGL) of Australia.

      Paton said a further $30 million investment is planned in order to give Impala a significant stake in 85% of the platinum deposits situated in Zimbabwe`s lucrative Great Dyke geological structure.

      "Initially, all the production we are involved in will be open cast and we have no plans to go underground at this stage," he said.

      Impala will share in annual ore production of around 2.2 million tons from the Ngezi open cast mine, which will produce 98,000 ounces of platinum, 82,000 oz of palladium and 8,000 oz of rhodium.

      A further 68,000 oz of annual platinum group metals production is expected from the Mimosa mine in southern Zimbabwe, described by Paton as the world`s lowest-cost platinum.

      Impala`s expansion into Zimbabwe is part of its strategy to boost its annual output to around 2.1 million oz a year by 2006.

      -By Angus Macmillan, Dow Jones Newswires; 27-82-2107-307; angusmac@netactive.co.za;

      (END) Dow Jones Newswires 08-10-01
      Avatar
      schrieb am 12.10.01 09:38:47
      Beitrag Nr. 153 ()
      http://www.mips1.net/MGPlat.nsf/Current/4225685F0043D6534225…

      Impala`s Zim gambit still on track

      By: Laura Clancy
      Posted: 2001/10/11 Thu 17:00 | © Miningweb 1997-2001


      JOHANNESBURG – Impala Platinum`s $50-million gamble on the Ngezi mine on Zimbabwe`s Great Dyke is set to pay handsomely with the company predicting a 40 per cent internal rate of return from the project. David Brown, the group`s financial director, underlined the viability and attractiveness of the project, which he says remains robust despite the recent freefall in platinum group metal prices and a gradual deterioration in the political and economic landscape in Zimbabwe.
      Brown says the project was based on long-term pricing scenarios, but would not give details on Impala`s long-term forecast. Impala entered the region earlier this year when it acquired an effective 40 per cent stake in the Ngezi-Hartley assets of the Zimplats group. The transaction was structured on two tiers in line with Implats`s method of investing in the parent and operating companies.

      First, Implats acquired from Delta Gold a 30 per cent stake in Australian-listed Zimplats in a joint venture with South African financial institution Absa Bank, for an amount of R131 million.

      At the second tier, Implats holds a 30 per cent direct stake in the Ngezi-Hartley project for which it paid R240 million; this comprises the Hartley platinum mine, the Ngezi project and the Selous Metallurgical Complex.

      Impala has also moved to reassure investors that the continually worsening political situation in the Southern African state has not impacted negatively on the outlook for the project. He added, however, that the group had taken political insurance as a precaution to minimise the obvious geopolitical risks.

      Initially, the opencast Ngezi mine is expected to produce 98,000 ounces of platinum each year and 82,000 ounces of palladium. The feasibility study indicates the mine should produce about 100,000 ounces of platinum over the mine`s 20-year life. That figure could be bolstered if Impala`s exploration in the area – which has been largely untouched – bear fruit. Executives say the greater part of the Great Dyke region under the control of Zimplats is still to be explored.

      The first pgm concentrate from Ngezi is expected to be trucked to Impala Refining Services, a distance of about 900 kilometres, during the first quarter of next year. However, the plan is eventually to treat the concentrate at BHP`s failed Hartley processing facilities, with the matte being transported to IRS for further refining. "It makes economic sense to truck a load of more value and little tonnage then a lot of tonnage with little value," said Brown.

      Underground mining a possibility

      While the Hartley underground project is not being mined at present, Zimplats will be weighing up a number of options to exploit the ore body is in the next phase of the Ngezi project. However, about 57,000 tons of ore have already been removed from underground and above-ground stockpiles in order to start the metallurgical process.

      Absa, one of South Africa`s largest banking groups, bought a 15 per cent stake in Zimplats earlier this year, when Impala took its interest in the project. Brown said although Absa invested to gain a return, the bank was more than likely not going to maintain its investment for the duration of the project. "They might be willing sellers in the future, but that will obviously be Absa`s decision," said Brown.

      He added that Impala was happy with the shareholding balance in Zimplats. "However, in the fullness of time [Implats] would like to explore the possibilities of increasing its stake in Zimplats," he said.

      Australian miner Delta Gold holds 21 per cent of the company, with the balance of 49 per cent being held by minority shareholders.

      Impala`s senior consulting engineer on the Ngezi project, Les Paton, reassured investors – during a recent analysts` visit to Impala operations in Rustenburg – that the Zimbabwean operations were on track despite the deteriorating political situation in the country.

      Impala wanted to give investors "some comfort" and assure them "there is something happening and that it is progressing well".

      The Zimplats investment, combined with Implats` acquisition in July of a 35 per cent stake in ZCE Platinum, which in turn holds a 100 per cent interest in Mimosa Mining, gives South Africa`s second largest platinum producer access to 85 per cent of the platinum group metals mineralisation on the Great Dyke. An apparent gamble that may well pay off quite substantially in the future.
      Avatar
      schrieb am 31.10.01 15:39:29
      Beitrag Nr. 154 ()
      http://www.mbendi.co.za/a_sndmsg/news_view.asp?P=0&PG=11&I=2…

      Zimbabwe Platinum Mines first quarter activities report
      HIGHLIGHTS

      * Excellent progress on the construction of the Ngezi Platinum Mine and the Ngezi to Selous highway.

      * Recommissioning of the Selous Metallurgical Complex on schedule.

      * Senior management team for the Project in place.

      * Recruitment of middle-management and operators progressing according to plan.

      * Significant progress towards completing the Absa loan documentation.

      * Drawdown on Absa loan facility commenced.

      PROJECT PROGRESS

      Significant progress on the Ngezi/SMC Project has been made during the quarter. The Project remains within the capital budget and is expected to commence production as planned in January 2002.

      NGEZI PLATINUM MINE

      The major units of the mining fleet, as at the end of October 2001, are on site and operational. The fleet consists of the following units: two 250 tonne excavators; two 110 tonne excavators; one 90 tonne excavator; eight 100 tonne dump trucks; eleven 50 tonne dump trucks.

      Drilling units of various sizes as required by the different phases of mining bulk waste and selective mining of waste and ore are now operational at the mine.

      As at the end of September 2001, 2.5 million tonnes of waste had been mined.

      Planned mining tonnages for the forthcoming quarter are 5 million tonnes waste and 170,000 tonnes ore. Production build-up will continue until May 2002, when 183,000 tonnes of ore and 2.3 million tonnes of waste are scheduled to be mined on a monthly basis.

      The new crusher installation at the Ngezi minesite is 70% complete and is expected to be ready to process ore by 15 November 2001.

      Support infrastructure such as accommodation, workshops, offices, power supply and water reticulation is complete.

      NGEZI TO SELOUS HIGHWAY

      The road is 70% complete, with a major portion of the road sealed and the three major bridges 90% finished. The road is scheduled to be complete by the middle of December 2001. The road is expected to be completed on time and within budget.

      SELOUS METALLURGICAL COMPLEX

      The recommissioning of the mills, concentrator, and smelter at the SMC is scheduled to be completed by the end of October 2001. Limited processing of stockpiled ore and reclaimed material will commence during November 2001, in preparation for the first ore shipments from the Ngezi Platinum Mine during late December.

      MANAGEMENT AND STAFF

      Hartley Management Company (Private) Limited (HMC) has successfully hired from within Zimbabwe all the senior management required for the Ngezi/SMC Project. The project management possesses the required skills and experience for the project and is supported by senior technical management personnel from Implats.

      Good progress has been made in the recruitment of middle management and operators. HMC does not anticipate any skilled staff shortages at the SMC. The mining and transport contractors have also been able to recruit the required levels of skilled and trained employees for their operations.

      ROAD HAULAGE CONTRACT

      The first of the ten prime movers for hauling the ore trailers has arrived in Zimbabwe for training of drivers and the balance of prime movers are scheduled to arrive over the next twelve weeks. The first trailer kits have arrived in Zimbabwe for local assembly and all trailers are expected to be assembled by the end of the year.

      The transport of ore from Ngezi Platinum Mine to the SMC by road trains is scheduled to commence in the second half of December 2001.

      PGM PRICES

      The slowdown in global consumer demand resulted in PGM prices declining during the quarter with platinum and palladium falling to US$440/ounce and US$390/ounce respectively.

      Platinum and palladium prices have continued to weaken since September, reflecting the uncertainty that surrounds the world economic outlook at present.

      EMPOWERMENT PLACEMENT

      Zimplats is being continuously informed on the progress of negotiations between the National Investment Trust (NIT), to whom the proposed 15 percent placement at a market-ruling price placement will be made, and its financial advisers, to fund the empowerment placement in Zimbabwe.

      The NIT board has approved a funding proposal from a South African corporate bank. This proposal is now being reviewed by Zimplats to ensure it complies with the terms agreed between Zimplats and the Ministry of Mines in the Framework Agreement. It is expected that the placement will be concluded shortly.

      IMPALA PLATINUM HOLDINGS LIMITED (Implats)

      The benefits of the investment by Implats in Zimplats and the Project company, Hartley Management Company (Private) Limited (HMC), have been experienced during the quarter. HMC senior management has visited Implats`` operations in South Africa, gaining valuable insight into procedures and methods used. In addition, Implats technical management has made several visits to the SMC and Ngezi Platinum Mine, providing suggestions for the improvement of operational procedures.

      Implats technical management will be advising HMC management during the build-up of production in the first half of 2002.

      Excellent working relationships have been established between HMC, Zimplats and Implats. Management believes this will benefit the Project, Zimplats and its investors.

      NGEZI/SMC PROJECT FUNDING

      The US$30 million investment in HMC by Implats has been utilised in project development and HMC is currently accessing the Absa loan facility of US$30 million for the remaining development expenditure.

      HMC has agreed the operational procedures for the offshore bank accounts with the Reserve Bank of Zimbabwe. The bank account to handle the loan funds from Absa and the project disbursements are operational and the bank account for the proceeds of exports is established, and will operate once sales of product commence.

      The total funding established for the Project is expected to be sufficient to carry it through to positive cash flow.

      SHARE PRICE

      Several factors have combined to depress the share price: the global economic downturn, exacerbated by the tragic events in New York on the 11 September 2001; the decline in PGM prices brought about by the global economic slow-down; the political and economic situation prevailing in Zimbabwe.

      The share price reached a low of A$0.66c per share on 28 September 2001 and has subsequently recovered to A$0.84c.

      ZIMBABWE POLITICAL & ECONOMIC SITUATION

      The economic situation in Zimbabwe remains depressed and is likely to remain so until the political uncertainties in the country are resolved. It is hoped that the political situation will improve during 2002 after the Presidential election, which is expected to be held in March 2002.

      The economic situation in Zimbabwe and the shortage of foreign currency have not affected the Project or Zimplats in any material manner. The financial parameters of the Project agreed to between Zimplats and the Government of Zimbabwe ensure that the Project retains sufficent foreign currency receipts to cover all its commitments to external supplies of goods and services, including fuel for operations. These parameters will also assist HMC in securing sufficient electrical power for mining and processing operations.

      Zimplats continues to monitor the economic and political situation carefully to ensure that action can be taken immediately to address issues that may negatively affect the Project or the Company.

      INVESTOR INFORMATION

      CAPITAL STRUCTURE

      As at the 30 September 2001 Zimplats had 88,361,820 fully paid and quoted shares on issue. A total of 326,000 employee and director share options have been approved for the year 1999 at A$0.40, and 1,335,000 share options approved for 2000 at A$0.50. These options have been allocated in accordance with the Employee Share Option Scheme approved by shareholders in General Meeting on 28 May 2001. There are no other share options on issue.

      MAJOR SHAREHOLDERS

      Impala Platinum (Zimbabwe) (Proprietary) Limited 30.00%
      Delta Gold Limited 21.05%
      ANZ Nominees Limited 7.70%
      Citicorp Nominees Pty Limited 5.31%

      REPORTING CALENDAR

      The intended dates for the AGM and future report are as follows:
      Annual General Meeting - 23 November 2001
      December 2001 Quarterly Report - 31 January 2002

      SHAREHOLDER ENQUIRIES

      Matters relating to the number of shares held and change of address should be directed to the share registry at: Computershare Registry, GPO Box 7054, Sydney NSW 1115, Australia.
      Avatar
      schrieb am 05.11.01 11:33:50
      Beitrag Nr. 155 ()
      http://www.mips1.net/mgnews.nsf/MgNewsFeedWindow?OpenFrameSe…

      Zimplats making significant progress


      Posted: 10/31/2001 05:00:00 AM | © Miningweb 1997-2001


      JOHANNESBURG – Zimbabwe Platinum Mines has reported the recommissioning of the Selous Metallurgical Complex on schedule, significant progress towards completing the Absa loan documentation and the start of the drawdown on the Absa loan facility in its quarterly activities report.
      In addition, significant progress on the Ngezi/SMC Project has been made during the quarter and the project remains within the capital budget and is expected to commence production as planned in January 2002.

      At the Ngezi platinum mine the major units of the mining fleet, as at the end of October 2001, are on site and operational. At the end of September 2001, 2.5 million tonnes of waste had been mined.

      Planned mining tonnages for the forthcoming quarter are 5 million tonnes waste and 170,000 tonnes ore. Production build-up will continue until May 2002, when 183,000 tonnes of ore and 2.3 million tonnes of waste are scheduled to be mined on a monthly basis.

      The recommissioning of the mills, concentrator, and smelter at the SMC is scheduled to be completed by the end of October 2001. Limited processing of stockpiled ore and reclaimed material will commence during November 2001, in preparation for the first ore shipments from the Ngezi Platinum Mine during late December.

      Zimplats is being continuously informed on the progress of negotiations between the National Investment Trust (NIT), to whom the proposed 15 percent placement at a market-ruling price placement will be made, and its financial advisers, to fund the empowerment placement in Zimbabwe. The NIT board has approved a funding proposal from a South African corporate bank. This proposal is now being reviewed by Zimplats to ensure it complies with the terms agreed between Zimplats and the Ministry of Mines in the Framework Agreement. It is expected that the placement will be concluded shortly.

      The US$30 million investment in HMC by Implats has been utilised in project development and HMC is currently accessing the Absa loan facility of US$30 million for the remaining development expenditure. HMC has agreed the operational procedures for the offshore bank accounts with the Reserve Bank of Zimbabwe. The bank account to handle the loan funds from Absa and the project disbursements are operational and the bank account for the proceeds of exports is established, and will operate once sales of product commence. The total funding established for the Project is expected to be sufficient to carry it through to positive cash flow.
      Avatar
      schrieb am 21.11.01 06:34:36
      Beitrag Nr. 156 ()
      Mining News
      Wed, 21 Nov 2001, 4:32pm EST
      Zimbabwe Platinum to Sell 15% Stake to Zimbabweans, Herald Says
      By Brian Latham


      Harare, Zimbabwe, Nov. 19 (Bloomberg) -- Zimbabwe Platinum Mines Ltd., an Australian company with rights to most of the world`s No. 2 platinum deposit, will sell 15 percent of its shares to Zimbabwean investors, a state-controlled Harare newspaper said.

      Sydney-based Zimplats is in talks with Zimbabwe`s state-owned National Investment Trust over how it will place the shareholding with local black investors, the Herald said, citing Roy Pitchford, Zimplats`s managing director. The company is reviewing a funding proposal from a South African bank, he said, without identifying the institution.

      Zimplats plans to open the Ngezi mine later this year and intends to dig two other mines. Its mining prospects span Zimbabwe`s Great Dyke, a geological seam that contains more platinum than any other except the Bushveld Complex in neighboring South Africa.

      Impala Platinum Holdings Ltd., the world` second-largest platinum company, owns 30 percent of Zimplats. Australia`s Delta Gold Ltd. owns 21 percent.

      (The Herald 6/26/2001 P1)
      Avatar
      schrieb am 21.11.01 06:55:56
      Beitrag Nr. 157 ()
      20 November, 2001
      Zimplats Expects Production To Start At Ngezi Mine Next Month.
      http://www.minesite.com/archives/news_archive/2001/Nov-2001/…
      Avatar
      schrieb am 27.11.01 09:16:51
      Beitrag Nr. 158 ()
      Monday November 26, 5:40 PM

      Zimbabwe Platinum Nearing Completion of Ngezi Mine
      PERTH, Nov 26 Asia Pulse - Zimbabwe Platinum Mines Ltd (ASX:ZIM) announced that its US$50 million Ngezi platinum project mine in Zimbabwe is almost complete and has started limited operations.
      Chief executive Roy Pitchford told shareholders at the company`s annual general meeting in Zimbabwe on Friday that the mining contractor was operating to expectation and delivery to the processing plant was expected to take place on schedule.



      The project, acquired by Delta Gold Ltd (from which Zimplats was spun off in 1998) in 1986 is expected to begin producing metal early next year, reaching its design capacity of 2.12 million tonnes a year by mid year 2002.

      Peak production during stage one of the three stage project is 208,000 ounces of platinum gold metals in smelter matte.

      Mr Pitchford said the 77 kilometre Ngezi to Selous highway was on schedule for completion next month with more than 45 kilometres of the highway already operational.

      The haulage vehicles, 40 metre long Australian-type road trains, are currently being assembled and driver training is underway.

      He allayed fears about the operating environment within Zimbabwe which has suffered political and socio-economic dislocations in the past year.

      "We believe that the processes underlying these disruptions will diminish and possibly reverse in the foreseeable future," he said.

      Another concern for shareholders is price of platinum group metals (PGMs) with high prices enjoyed by the producers over the past no longer sustainable in the short term.

      "It now appears inevitable that the combination of additional supply arising from major committed expansions in South Africa together with depressed demand resulting from the currently slowdown in world economic growth will impost significant downward pressure on PGM prices for the next few years."

      He said Zimplats would strive to maximum efficiencies and reduce unit costs.

      "In this regard, optimal use will be made of goods and services procured within Zimbabwe, given the depreciating nature of the prevailing local currency exchange rates."

      ASIA PULSE L
      Avatar
      schrieb am 27.11.01 09:28:10
      Beitrag Nr. 159 ()
      Die polit. Lage ist aber gespannt wie immer:

      http://www.busrep.co.za/html/busrep/br_frame_decider.php?cli…

      Rand fulfils bearish prophecy as Mugabe tightens grip on power
      Quentin Wray
      November 23 2001 at 06:54AM
      Johannesburg - The rand fulfilled pessimists` prophecies yesterday, briefly breaking through the R10 to the dollar level on news out of Zimbabwe that president Robert Mugabe had upped the ante in his efforts to ensure victory in next year`s presidential election.

      Zimbabwe`s state-owned media reported this week that Mugabe`s ruling Zanu-PF government has proposed legislation to jail or fine anyone undermining the president`s authority.

      Penalties of death or life in prison have been proposed for insurgency, banditry, sabotage and terrorism.

      Back in South Africa, the announcement that the government would have to buy back the 20 percent stake in SA Airways (SAA) it sold to Swissair in 1999 also contributed to the rand`s woes as analysts foresaw a greater demand for dollars.

      Swissair paid $230 million for its chunk of SAA, and the government would have to buy it back at 85 percent of fair value.

      That would place even more pressure on what PSG Investment Bank economist Noelani King called the "already bleeding economy".

      Lingering worries about the debt crisis in Argentina were also souring sentiment towards emerging markets. Argentina has undertaken a huge local debt swap to avert a default on its massive debt levels.

      And despite widespread acceptance that the rand is oversold, meaning it is far too cheap in dollar terms, analysts believe the currency will battle to post significant gains until April next year, by which time Zimbabwean elections will have to have been held by.

      But there was some good news - for a short while yesterday afternoon South Africa was the only country on the globe that could boast a Big Mac for less than a buck.

      Tradek economist Mike Schussler said that according to the Big Mac index, which tries to measure the relative purchasing power of currencies, the rand was about 61 percent undervalued against the dollar and 65 percent undervalued against sterling.

      The rand has lost more than 20 percent against the dollar this year.
      Avatar
      schrieb am 11.12.01 06:49:19
      Beitrag Nr. 160 ()
      http://www.busrep.co.za/html/busrep/br_frame_decider.php?cli…

      Implats feels secure in spite of crisis in Zimbabwe
      Sherilee Bridge
      December 06 2001 at 07:11AM
      Johannesburg - Mining companies in Zimbabwe remained untouched by the land grab campaign being waged in that country, the world`s second-largest platinum producer Impala Platinum (Implats) said yesterday.

      Keith Rumble, the chief executive of Implats, said the company`s investment in Zimbabwe was secure despite the country being in the midst of a political crisis.

      "We are fortunate in that we have been given the right to import fuel directly to the mines and hold offshore bank accounts with the blessing of the Zimbabwean government," Rumble said.

      Implats ventured into Zimbabwe for the first time this year.

      Its acquisition of a 35 percent stake in Mauritius-based ZCE Platinum, the sole owner of the Mimosa platinum mine, has given it access to about 85 percent of the the world`s second-biggest platinum deposit, the Zimbabwean Great Dyke.

      Implats also holds a 30 percent stake in Zimbabwe Platinum (Zimplats), the company that inherited the Hartley Platinum Mines.

      Cathie Markus, the investor relations director of Implats, said most mining properties had been excluded from the land redistribution programme.

      She said this was possibly because the government had recognised the economic contribution the mining industry made to Zimbabwe. But this logic had not been applied to tobacco farms, Zimbabwe`s largest contributor to gross domestic product.

      Besides being home to the world`s second-biggest platinum deposit, Zimbabwe also had one of the world`s largest chrome deposits and some of Africa`s largest gold and iron ore reserves.

      David Brown, the financial director of Implats, said the company had to weigh up the risk versus the opportunity of mining in Zimbabwe. He said Implats had taken out political risk insurance that covered 90 percent of its Zimplats investment, leaving little for shareholders to carry if the investment bombed.

      Implats shares closed R30 firmer at R484 on the JSE Securities Exchange yesterday.

      The platinum index closed 3,7 percent higher.

      -------------
      Zimplats und ZCE wurden im Text z.T. verwechselt.
      Nicht ZCE, sondern Zimplats sitzt auf 85% der zimbabweschen PGM-Vorkommen.
      Avatar
      schrieb am 11.12.01 07:13:03
      Beitrag Nr. 161 ()
      Man sollte sich die ZIM als Optionsschein ohne Verfallstag

      ins Depot legen.

      Impala wird seine Interessen schützen,notfalls mit einer Privatarmee.

      aber wenn die "schwarze Beteiligung" an Zim mit 15% erfolgte,ist auch alles palletti

      cu DL
      Avatar
      schrieb am 12.12.01 13:43:41
      Beitrag Nr. 162 ()
      Zim steht heute bei 1,10 AD

      bei ueber 4,3 mio gehandelter Aktien

      es geht weiter


      MfG
      Avatar
      schrieb am 16.12.01 09:51:28
      Beitrag Nr. 163 ()
      http://www.mbendi.co.za/a_sndmsg/news_view.asp?P=0&PG=11&I=3…

      Zimbabwe`s spiralling costs compound losses for Falcon Gold`s struggling gold mines

      The situation of our operating mines in Zimbabwe is very grave. Falcon Gold Zimbabwe Limited ("Falgold" ), our 57.1% subsidiary, operates three gold mines in Zimbabwe and continues to run at a loss. Olympus Gold Mines Limited ("Olympus" ), a 66.7% subsidiary, operates another gold mine at a small profit. The Group`s loss for the year after tax and minorities was US$399,000 (2000: US$213,000). The deterioration in performance was due to increased losses in Zimbabwe, as explained below, development costs on our Chilean iodine project and a reduction in interest income as a result of lower cash balances and falling world interest rates.

      The Government of Zimbabwe pays 20% of the proceeds of the sale of gold we produce into foreign currency bank accounts at the international price of gold. Sale proceeds for the balance of our production are paid in Zimbabwe Dollars at the gold support price converted at the official rate of exchange. The gold support price was introduced in April 2001 at US$343 per ounce and increased to US$430 per ounce in August 2001. Prior to April 2001 the Zimbabwe dollar element of our sales proceeds was based on the international price of gold. The price in Zimbabwe dollars that we are receiving from the Government of Zimbabwe for our gold has increased by less than 50% since September 2000, in spite of the fact that inflation in Zimbabwe is running at close to 100% per annum. Most of our mining consumables and spares, though purchased locally, are imported. The costs of these inputs have risen considerably because our suppliers have had to obtain foreign currency from the parallel market at rates of up to Z$300:US$1. This compares to the official exchange rate of Z$55:US$1. As a result of the extraordinary efforts of management in Zimbabwe operating losses have only increased by 22% over the last year to US$490,000.

      We produced 1,215kg of gold in the year to 30th September 2001 (2000: 1,310kg) and employ 1,171 people in Zimbabwe. We expect that the Government of Zimbabwe will continue to support the gold mining industry and enable us to continue operations for the short term. A presidential election is due before the end of April 2002 and we anticipate that the operating environment will improve in the second half of the year. The accounts of our Zimbabwe subsidiaries therefore continue to be prepared on a going concern basis. The book value of our share of the net assets of Falgold and Olympus at 30th September 2001, translated at the official exchange rate of Z$55:US$1, was US$1,998,000 (2000: US$2,402,000). It is unlikely that we would be able to recover much of this value should we be forced to close the mines and any amount received may not be remittable from Zimbabwe.

      We own 52.2% of a company that has identified, and obtained mining rights over, a significant iodine deposit in Chile`s Atacama Desert. The deposit has close to 50 million metric tonnes of mineable resources with economically attractive iodine grades and could support an operation to supply around 5% of current world consumption for 20 years. Work is progressing on access rights, the identification of cheaper alternative water supplies and the clearance of a minor title dispute, prior to completion of the pre-feasibility study. The share consolidation proposed at the end of last year was approved at the Annual General Meeting and shareholders have been issued with new share certificates for two shares of Euro 1.25 each to replace three old shares of US$2.00 each. The resulting reduction in share capital and share premium has been transferred to eliminate the deficit on the holding company`s profit and loss account.

      The outlook for the year ahead is very uncertain. Much depends on the operating environment in Zimbabwe, which we do not expect to improve in the first half of the year. Our objectives are to maintain operations in Zimbabwe and to generate value from our investment in Chile.

      D C MARSHALL

      14.Dec.2001 09:26:00 [GMT+2:00]
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      schrieb am 16.12.01 09:55:24
      Beitrag Nr. 164 ()
      http://www.africaonline.co.zw/mirror/stage/archive/011214/bu…

      Friday 14 December, 2001

      African Gold keeps faith in Zimbabwe operations

      JOHN TEELING, the Irish entre-preneur who is chairman of AIM-listed African Gold, is in a defiant mood. He makes it very clear that, even though many other gold producers have closed their mines in Zimbabwe, his company intends to hang in there.

      “I am not giving up on Zimbabwe,” he insists. “Fundamen-tally it is a very good country. And some of us have not given up on gold.” African Gold’s sole operating asset at present is the Inez gold mine, 25 kilometres east of Kadoma. Changes in management and a revision of operations have enabled Inez to increase output from the targeted 3 000 ounces a year at cash costs of about $225 an ounce. There was even a small cash surplus in the six months ending September. The Zimbabwean dollars gene-rated are being used to upgrade the plant and the mine. “We’re taking nothing out,” Keeling points out.

      Early last year African Gold was restructured financially and since then has been looking for new ventures and possibly a “reverse” takeover by a company wishing to take advantage of the AIM listing. For some months African Gold has been involved in discussions that “would lead to a major change in direction”.

      Analysts suggest this probably involves an oil company, given that Teeling and his colleague on the African Gold board, David Horgan, are also involved with two other AIM companies, Pan Andean Resources and Petrel, that are involved in the oil business. However, the indications are that the latest potential deal, like others African Gold has looked at since the beginning of last year, will fall by the wayside. Teeling certainly sounds less confident about it than about sticking with the gold mine in Zimbabwe.

      “We don’t want to severely dilute existing shareholders,” he says. “If this does not go ahead we will start looking all over again. There are a number of people interested in talking to us.” At African Gold’s annual meeting, Teeling said about the possible deal: “We were pleased with the project, the people and the prospects, but falling prices and weakening world demand seriously affect the economics of the venture and it may not be possible to proceed. Our preference is to conclude the proposal under consideration, but if this is not feasible then we will continue our search.” Teeling says that the deal is not a matter of life and death for African Gold.

      “We’re not going to go bust without it.” The company raised £200 000 at 2p a share, mainly from existing shareholders, last financial year and recently Teeling himself has provided a further £40 000 of cash by taking up options. He bought 3,25 million shares at 1p and a further 750 000 at 1,5p. African Gold’s price fell by 10 percent after Teeling’s downbeat remarks about the potential deal at the annual meeting to 2p, giving it a market value of just under £3 million. In the past year the price has been up to 4p and down to 1,5p.

      Teeling says the company needs about £40 000 a year simply to comply with AIM requirements and a similar sum for head office costs. “I’ll cover that,” he promises. As a serial entrepreneur, Teeling has interests outside the natural resources sector, including an Irish whiskey company.

      The financial tidying up of African Gold in January 2000 involved the transfer of its Beehive gold mining complex in Zimbabwe, comprising the Eva, Babs, Beehive and Antelope mines, plus a milling facility, to holders of £1.05 million in outstanding loan notes in exchange for cancelling the notes. The note holders also took on £200 000 in associated debt owed to banks in Zimbabwe.

      African Gold’s remaining mine, Inez, has not escaped the political upheaval that has come close to ruining Zimbabwe’s economy. It is surrounded by farms that have been occupied and the mine itself has been invaded twice in the past year but no damage was done.

      Teeling says: “African Gold has a loyal and experienced workforce. Some employees have been with us for 10 years or more. I have told them that as long as they are safe and prepared to work, we will remain.” – Miningnet
      Avatar
      schrieb am 21.01.02 09:04:48
      Beitrag Nr. 165 ()
      http://library.northernlight.com/FB20020117800000168.html?cb…

      Zim`s Gold Output Falls By Massive 4 000 Kg

      Story Filed: Thursday, January 17, 2002 11:20 AM EST

      Jan 17, 2001 (Financial Gazette/All Africa Global Media via COMTEX) -- ZIMBABWE`S gold production has fallen by a massive 4 000 kg as a deepening economic and political crisis, coupled with depressed world metal prices, took a toll on the country`s once vibrant industry.

      Figures given to the Financial Gazette this week by the Chamber of Mines show production of the precious yellow metal slumping from 22 069.9 kg in 2000 to 18 044 kg last year.

      Earnings from gold sales totalled $10.57 billion last year, up from $8.6 billion from the previous year.

      Industry executives said the nominally higher earnings posted last year reflected Zimbabwe`s high inflationary environment of the past two years and that, in real terms, the industry had earned much less than in 2000.

      Zimbabwe`s gold output has been declining since 1999 because of a variety of factors, among them the low price of the mineral on international markets.

      But the plight of Zimbabwe`s gold industry worsened further last year, just as was the case with the rest of the economy`s other productive sectors because of Zimbabwe`s worsening crisis over land ownership, the rule of law, human rights and democracy.

      According to the chamber, gold miners are experiencing viability problems and many players in the industry will have to cut down on their labourforce and on production targets in order to remain afloat.

      The industry employs an estimated 20 000 workers.

      "Many gold producers are running on huge losses and will be forced to close down again unless a speedy solution is implemented. A number of jobs are also on the line if nothing is done to rescue the sector, " one senior chamber official said.

      An overvalued Zimbabwe dollar has only compounded the sector`s problems.

      In November last year gold producers had to send a distress call to the Reserve Bank of Zimbabwe (RBZ), the central bank, asking it to increase the price at which it was buying gold from them in order to save gold companies from collapse.

      The government has so far not responded to the producers` latest request.

      In April last year, the RBZ introduced a floor support scheme under which it bought gold from producers at above international market prices.

      The bank offered to purchase gold at US$343 an ounce, which was reviewed upwards to US$430 an ounce in August 3/4 far higher than the US$287 an ounce the metal was trading on global markets this week.

      But gold producers maintain that this is still insufficient and that they still lose out on benefits they would have accrued from the RBZ`s support scheme because of a distorted and fixed exchange rate of 55 Zimbabwe dollars to one greenback.

      The local dollar trades at anything between $300 to $400 to one US dollar on the black market, where most companies including some of the gold miners are forced to seek scarce foreign exchange to buy inputs.

      Industry sources this week said the cash-strapped government had forked out more than $1.5 billion in subsidies to the gold sector last year.

      By the end of last year gold producers had retained over US$40 million of their hard cash earnings under the RBZ scheme, which seeks to inject life into the sector. But analysts say the cocktail of measures to lift output had been too little too late.

      By the end of last year gold producers had retained over US$40 million of their hard cash earnings under the RBZ scheme, which seeks to inject life into the sector. But analysts say the cocktail of measures to lift output had been too little too late.

      by Staff Reporter

      Copyright Financial Gazette. Distributed by All Africa Global Media(AllAfrica.com)


      KEYWORD: Zimbabwe


      Copyright © 2002, Africa News Service, all rights reserved.
      Avatar
      schrieb am 28.01.02 15:23:38
      Beitrag Nr. 166 ()
      Zimbabwe`s Ngezi Platinum Produces First Matte



      HARARE, Jan. 28 (Dow Jones) - Zimbabwe`s Ngezi platinum mine produced its
      first matte at the weekend, an official of the parent company, Zimplats Ltd.,
      said Monday.
      "Ore is being taken 77 kilometers by roadtrain and processed at the Selous
      plant", the official told Dow Jones Newswires.
      "This was a trial batch of a couple of tons of matte, which is being sent
      to Impala Refining Services Ltd. in South Africa."
      The company says development is on schedule for full production of 180,000
      metric tons of ore a month (2.2 million tons a year) to be reached by March.
      Annual production is 93,000 tons of concentrate and 3,100 tons of matte.
      This is expected to yield 98,000 troy ounces of platinum a year, 82,000 ounces
      of palladium and 8,000 ounces of rhodium.
      "Based on world prices at the moment, we expect to earn about $80 million
      a year from that level of production," the official said.
      Work has begun on the second phase of development, adding another 2.2
      million tons of ore a year. This will increase annual production to 196,000
      ounces of platinum, 164,000 ounces of palladium and 16,000 ounces of rhodium.
      The Zimplats official declined to say when the second phase will come into
      operation.

      Martin Rushmere, Dow Jones Newswires, 263 4 339617 martinr@zol.co.zw
      Avatar
      schrieb am 05.02.02 18:39:02
      Beitrag Nr. 167 ()
      Tuesday February 5, 11:31 am Eastern Time
      Kinross to write down Zimbabwe gold investment
      (UPDATE: Figures in U.S. dollars unless noted)

      TORONTO, Feb 5 (Reuters) - Canada`s Kinross Gold Corp (Toronto:K.TO - news) said on Tuesday it would write down its investment in Zimbabwe`s Blanket gold mine by $11.8 million in the 2001 fourth quarter due to political and economic strife in the southern African nation.

      Zimbabwe has slowly plunged into a crisis blamed on economic mismanagement and a controversial policy by President Robert Mugabe of seizing white-owned farms ahead of presidential elections next month.

      The Toronto-based miner, the fourth-largest gold producer in North America, said the underground mine in southwestern Zimbabwe about 100 km (62 miles) from Bulawayo, continues to operate.

      ``(The writedown) is really relating to the economic situation and the fixed rate currency that we are forced to live with,`` Kinross chairman and chief executive Robert Buchan told Reuters.

      The Zimbabwe dollar is officially fixed at Z$55 to the US dollar, but on the street it is somewhere between Z$250 and Z$300 to the greenback.

      It said 2002 production at the mine is estimated at 39,000 ounces of gold, down from previous estimates of 47,000 ounces, but up from 2000 output of 34,571 ounces.

      Kinross`s share of total annual production from all of its assets, including mines in Canada and Russia, is about 900,000 ounces of gold.

      ``The decision to continue to operate or to suspend operations will be continuously reviewed in the context of the evolving economic and political conditions in Zimbabwe,`` the company said in a statement.

      Shares in the company were unhampered by the news and rallied on the Toronto Stock Exchange for a second day in a row as spot gold prices moved higher to $291 an ounce.

      The stock, which has risen 111 percent since January 2001, hit a new 52-week high of C$1.80 early in the day but had slipped back to C$1.73, up 3 Canadian cents, near midday.

      ($1=$1.60 Canadian)
      Avatar
      schrieb am 07.02.02 14:23:16
      Beitrag Nr. 168 ()
      ODJ : Zimbabwe`s Wheat Output Seen Down By 55% In 2002


      Harare, Jan.31 (OsterDowJones) - Zimbabwe`s wheat output in the growing
      season to September will be cut by 55% because so many farmers have been
      ordered off their land, the Commercial Farmers Union said Thursday.
      Jerry Grant, deputy director of the union, said 65% of the 700 wheat
      growers have been told to vacate their land within a week under regulations
      allowing the government to seize commercial farms.
      Grant said output this year would be down to about 180,000 metric tons.
      Zimbabwe`s annual consumption is 400,000 tons.
      President Robert Mugabe has introduced a program under which the
      government is nationalizing 95% of white-owned commercial farms.

      ---
      Martin Rushmere, OsterDowJones +263 4 339617
      Avatar
      schrieb am 07.02.02 14:24:43
      Beitrag Nr. 169 ()
      ODJ Zimbabwe Raises Minimum Gold Price, Sets Up Retention Fund


      Harare, Feb. 6 (OsterDowJones) - Zimbabwe gold producers were given a
      slightly higher floor price plus a hard currency retention fund by the
      government Wednesday.
      However producers termed the measures "meaningless" and "a charade."
      The central bank raised its floor price - the minimum paid to producers -
      by 2% to the equivalent of $434 a troy ounce at the official exchange rate of
      $1=ZWD 55. The bank also said producers were now allowed to keep 20% of their
      foreign earnings, whereas previously they have had to sell all their foreign
      earnings to the central bank for local currency at the official exchange rate.
      Mining companies said there would be no difference to their serious
      financial situation. A spokesman for one of the three biggest producers in
      Zimbabwe said, "This is meaningless. We need at least a 30% rise in the floor
      price. Our costs are rising by at least 70% a year, while we have to buy
      imported raw materials at the parallel exchange rate of ZWD300 to $1.
      Commercial banks already have a scheme for us to keep 20% of our foreign
      earnings, and that is not enough."
      Another producer called the government move "a charade." A senior official
      of the gold mine said the government was trying to gain political credibility
      ahead of presidential elections next month.

      ---
      Martin Rushmere, Dow Jones Newswires, +263 4 339617
      Avatar
      schrieb am 15.02.02 13:01:59
      Beitrag Nr. 170 ()
      http://www.mbendi.co.za/a_sndmsg/news_view.asp?P=0&PG=11&I=3…

      Falcon Gold threatens closure of operations in Zimbabwe

      The attention of shareholders is drawn to the following statement made by the chairman of the company`s subsidiary, Falcon Gold Zimbabwe Limited, at that company`s Annual General Meeting, held in Zimbabwe on 12th February.

      "FALCON GOLD ZIMBABWE LIMITED CHAIRMAN`S ADDITIONAL REMARKS

      The Chairman`s Review in the Annual Report concluded with the following statement:

      "A commitment was made to Government to maximise gold production, but if current conditions persist, closures cannot be ruled out for certain of our operations." Since this statement was made in early December, the company has remained committed to maximising production, but operating conditions, as referred to above, have not remained the same, they have in fact deteriorated substantially. Average operating costs for the first four months of the current financial year have increased by in excess of 55%, when compared to the average for last year. The most significant of these is the 40% increase in wages recently imposed on the mining industry which is the second since August last year, when increases exceeded 100%. This has seen the company`s monthly wage bill escalate from Z$5.5 million in July to Z$17.5 million in January.

      There has been no significant increase in the gold revenue received by the company in the new financial year, and as a result the increased operating cost burden has forced the Directors into making decisions about closing certain operations within the group. The gold mining industry is being discriminated against and singled out as different from other exporters. It is not allowed the same foreign currency retention as all other exporters, which causes higher costs of production and lower net revenues. This is resulting in the loss of gold production and jobs. The nation`s gold bullion production will, as a consequence, be lower than last year`s by some 30%. If the revenue our Group receives for our gold does not increase materially in the very near future our mines will be forced to close.

      D.C. MARSHALL
      CHAIRMAN"

      In the light of the above, shareholders in Falcon Investment Holdings S.A. are advised to exercise caution and consult their professional advisors when dealing in these shares.
      Avatar
      schrieb am 15.02.02 13:36:03
      Beitrag Nr. 171 ()
      ODJ : Zimbabwe Gold Miner Contemplates Closing Ops


      By Angus Macmillan
      Johannesburg, Feb. 15 (OsterDowJones) - Zimbabwean gold miner Falcon Gold
      said Friday it will be forced to close its gold operations if its gold
      revenues do not increase sharply in the near future.
      In a statement issued Friday to the JSE Securities Exchange South Africa,
      the company`s chairman David Marshall said operating conditions
      have "deteriorated substantially" since December.
      Although not a big producer by South African standards, Falcon operates
      three mines in Zimbabwe - Chalny, Venice and Golden Quarry - and is one of
      that country`s largest gold producers.
      Marshall said the company`s wage bill has more than trebled since July
      last year due to pay rises brought about by inflation of above 100%.
      Unlike other exporters, Zimbabwe`s gold miners are not allowed to retain
      their foreign currency earnings, undermining their profitability. Marshall
      said increasing costs have forced directors "into making decisions about
      closing certain operations within the group."
      Zimbabwe`s gold output fell 20% to around 15 metric tons in the 10 months
      to October 2001.
      After tobacco, gold is the country`s biggest export commodity.
      ---
      Angus Macmillan, OsterDowJones
      Avatar
      schrieb am 19.02.02 09:35:13
      Beitrag Nr. 172 ()
      http://www.bday.co.za/bday/content/direct/1,3523,1025502-609…

      Zimplats outlines its plans

      MD says exploiting opportunities may lead to trebling of Great Dyke production

      Resources Correspondent

      PLATINUM group metal producer Zimplats has outlined potential expansion plans that may see the company growing its Zimbabwean platinum production in the next few years.

      The Australian-listed company, in which Impala Platinum and Absa hold 15% stakes, mines for platinum group metals on Zimbabwe`s Great Dyke, the world`s second-biggest platinum deposit.

      Potential areas of expansion have been identified, and Zimplats MD Roy Pitchford said that exploiting these opportunities could lead to a trebling of production from the current levels of 200000/oz of platinum, palladium, rhodium and gold a year to 600000/oz.

      Operations at the company`s Makwiro mine, in which Zimplats has a 70% stake and Impala 30%, could be extended from the opencast operation today to gain access underground reserves.

      If this plan were adopted, a concentrator could then be built at Ngezi. The construction of a Ngezi concentrator would then free it (the concentrator) up at Selous metallurgical complex, currently processing the material from the Ngezi mine.

      As part of its potential expansion plans, Zimplats` 100%owned Hartley`s platinum mine, which is being kept on a care and maintenance basis, could then be reopened with the ore milled at the Selous concentrator.

      Zimplats said production costs were about $231/oz (not including the refining process), significantly lower than production costs at Impala Platinum and Anglo Platinum.

      One analyst said the potential for expansion sounded great, but at the moment, as a result of the uncertain political conditions in Zimbabwe, there was great deal of risk involved in the project.

      "The political situation is difficult to assess. Zimplats has worked hard to develop an excellent relationship with the minister of mines and the minister of finance," said Pitchford.

      Zimplats`s financial agreement struck with the Zimbabwean government still stands, and as part of this the company can bank the income from its export sales offshore.

      Pitchford said all foreign currency obligations such as dividends were paid from Zimplats` foreign accounts.

      Production at the company`s Ngezi-Selous Metallurgical Complex project started in December, while the first exports of transported to Impala Refining Services in SA for processing started last month.

      Meanwhile, I-Net Bridge has reported a forecast that demand for platinum and palladium would soar in the next five years as the automotive industry was overhauled to comply with environmental legislation.

      This was the view of Robert Friedland, chairman of venture capital company Ivanhoe Capital.

      At the annual African Mining Indaba on Thursday, Friedland said the "re-equipping" of the car industry would be driven by the move to sulphur-free, diesel-powered engines.

      "Diesel engines are some 35% more efficient than gasoline ones," said Friedland, an American whose company is based in Singapore. "But the problem with diesel is that it contains too much sulphur."

      He said this problem could be overcome by gas-to-liquids technology, pioneered by companies such as SA energy company Sasol, and specialist automotive technology companies such as the US-based Syntroleum.

      Friedland said that from the beginning of 2004 European Union emission standard would be reduced to 10 parts a million sulphur content in diesel from the current 500 parts a million. A year later, the same standard would come into force in Japan, while the equivalent US legislation kicked in at the start of 2006.


      Feb 18 2002 08:05:46:000AM Julie Bain Business Day 1st Edition
      Avatar
      schrieb am 19.02.02 10:12:21
      Beitrag Nr. 173 ()
      http://allafrica.com/stories/200202170124.html

      Government/Mining Industry Deadlocked


      Zimbabwe Independent (Harare)

      February 15, 2002
      Posted to the web February 17, 2002

      Forward Maisokwadzo
      Harare

      GOVERNMENT and the mining industry have reached a stalemate over the enactment of a mining fiscal policy, worsening the operations of the sector already experiencing viability problems.

      The Ministry of Mines and Energy was supposed to table the mining fiscal policy document by November last year but to date, nothing is in place to work out strategies and policies which give more incentives to the sector.

      Sources said preparations for next month`s presidential poll and differences between government and captains of industry on a number of issues had put paid any progress on the policy guidelines.

      Besides locking horns over legal issues, certain aspects introduced by government favoured it more than the miners. One example was government`s introduction of ringfencing which required mines to be assessed separately for tax purposes.

      Mines which rake in huge profits would also be taxed heavily.

      However, were the policy to be published, it would not have any real impact, as government has adopted an ad hoc crisis management style.

      Analysts said the long delay raised suspicion on whether government was committed to restoring viability in the mining sector after the industry submitted its proposals to re-direct the ailing sector.

      "The move by government to grant an equivalent of $23 887 an ounce to gold producers to restore viability in the mining industry should be broadened to encompass other equally-deserving exporting sectors," a bank economist said.

      Zimbabwe Chamber of Mines chief executive, David Murangari, last week told the Zimbabwe Independent that the industry was also waiting for the mining fiscal policy, and referred all questions on the issue to the Ministry of Mines.

      A mining fiscal policy encompasses explorations, foreign currency retention, raw material and input supplies among other various operational schemes which the sector had to adopt to increase production.

      The mining sector - especially the gold sector which generates huge foreign receipts - is, after tobacco the second biggest foreign currency earner for the country.

      "Investors interested in the sector first need to understand the mining fiscal policy before injecting their money and government should speed up the process of publishing the policy to lure more investors," one analyst said.

      Ministry officials had not responded to questions sent to them by the time of going to press.

      Economists said although platinum remains the only growth sector in the country, government should still announce its mining fiscal policy to woo and retain investors deserting the country due to continued state-sponsored violence and economic decline.

      Giant mining companies like Impala Platinum Holdings have further expanded in the country by purchasing a 35% stake in the Mauritius-listed ZCE platinum for US$30 million.

      Analysts maintained that investors were still keen to invest in the sector had it not been for the current political and economic crisis.

      "Putting in place a formidable mining fiscal policy could assist in restoring viability to the sector," a mining economist said.
      Avatar
      schrieb am 05.03.02 13:33:54
      Beitrag Nr. 174 ()
      NIT to Acquire 15pc Stake in Zimplats


      Mar 04, 2002 (The Herald/All Africa Global Media via COMTEX) -- THE National Investment Trust will soon wrap up a $1,8 billion transaction involving the acquisition of a 15 percent shareholding in the Zimbabwe Platinum Mines Limited.
      The deal represents one of the largest black economic empowerment exercise by NIT since coming on stream three years ago.

      NIT chairman Dr Mthuli Ncube said the Trust was now mobilising funds from unnamed financial institutions to put a wrapper on the deal.

      He refused to name the institutions for confidentiality purposes.

      "We may sign the deal within the next three weeks upon the conclusion of the financial package," said Dr Ncube.

      The deal is part of a framework agreement signed between the Government and Zimplats in December 2001 where the Australian-based company undertook to sell some of its shares to local empowerment investors.

      Shareholders of the Australian-based platinum mining company later resolved to offer about 13,3 million new ordinary shares to the NIT as part of an empowerment drive for indigenous investor at their annual general meeting

      The trust has since mid-last year been finding it difficult to raise funding for acquiring the empowerment shareholding because of the tough economic environment.

      Dr Ncube said the trust is working out a mechanism that would enable it to purchase the shares using the local currency on the Australian stock market.

      This is in view of the precarious foreign exchange position prevailing locally.

      "Immediately after completing this transaction, we would want to break the shares into smaller, affordable units before offloading them to the locals," he said.

      The units should be sold to the locals within eight weeks of acquiring the shareholding from the Australian based producer of platinum group metals.

      "We have to distribute them quickly because NIT would have to pay the financiers back," he said.

      Dr Ncube described the investment as a worthwhile one for Zimbabweans as prospects for platinum are bright.

      Zimbabwe`s record in producing platinum group metals suffered a big dent following the collapse of BHP near Chegutu in 1999.

      The new owners of the mine have laid a firm foundation for the success of the project.

      The NIT is a body formed by the Government about two years ago as a vehicle for empowering black Zimbabweans through investments in privatised companies.

      Commenting about the other NIT programmes, Dr Ncube said these have been moving at a slow pace because of the laggard implementation of the privatisation process.

      The NIT has therefore, not been able to grab chunks of the Government`s investments in privatised companies.

      Dr Ncube said NIT was now pushing for a meaningful role in the privatisation exercise.

      "Has been slow because we have not been part of it (privatisation).

      "There is a privatisation committee and we need to be part of it," he said.


      by Business Reporter
      Avatar
      schrieb am 21.03.02 13:30:21
      Beitrag Nr. 175 ()
      www.theglobeandmail.com

      Zimbabwe pays extra 85% on gold

      But Canadian miner sees no windfall


      By ALLAN ROBINSON
      MINING REPORTER


      Tuesday, March 19, 2002 – Page B7


      Zimbabwe`s central bank is paying gold mining companies $539 (U.S.) an ounce, 85 per cent higher than the $292.10 market price.

      But that doesn`t mean a windfall for the gold miners operating there.

      "It`s really complicated and it doesn`t mean anything," said Robert Buchan, chairman and chief executive officer of Kinross Gold Corp. of Toronto, which operates the Blanket gold mine in Zimbabwe.

      Kinross has written off the value of the mine, which produces about 40,000 ounces of gold a year, although it doesn`t make a profit. "It`s not costing us any money to run, but we`re not making money," Mr. Buchan said.

      Kinross no longer consolidates the results of the mine in its financial statements.

      Part of the reason behind the inflated price is the official exchange rate, Mr. Buchan said. In the official market, it takes $55 (Zimbabwean) to acquire $1 (U.S.), but in fact the cost of labour and raw materials for gold producers in the real market or black market is $300 (Zimbabwean) for each $1 (U.S.), he said.

      "It makes no sense and there is no logic behind it," Mr. Buchan said of the central bank`s policy to reprice the gold rather than have a floating exchange rate. "The numbers make no sense at all."

      In the latest price adjustment, the central bank increased the price it is willing to pay by 24 per cent, Bloomberg News reported.

      The country`s Chamber of Mines said the price increase is a result of inflation and is being taken to save Africa`s fourth-biggest gold industry from collapse.

      The central bank started supporting Zimbabwean gold mines last April and reviews the price quarterly, the news agency said.

      The country`s annual inflation rate accelerated to a record 117 per cent in January.

      Kinross wrote off its $11.8-million investment in the Blanket mine during the fourth quarter of 2001 because of the continuing uncertainties in Zimbabwe.
      Avatar
      schrieb am 29.03.02 07:29:17
      Beitrag Nr. 176 ()
      http://www.busrep.co.za/html/busrep/br_frame_decider.php?cli…

      Zimplats plans to expand its investments in Zimbabwe
      Sherilee Bridge
      March 27 2002 at 06:35AM
      Johannesburg - Zimbabwe`s platinum industry, which confirmed yesterday that it remained untouched by the state`s political strife, planned further investments.

      The decision comes at a time when global mining companies are quitting Zimbabwe.

      Zimbabwe Platinum Mines (Zimplats), which is 45 percent owned by the world`s second largest platinum producer, Impala Platinum (Implats), said yesterday that its $29,8 million Ngezi mine would reach full production in the next three to four months and its operations personnel were already looking at future projects.

      Roy Pitchford, the managing director of Zimplats, said the Zimbabwean government had honoured its arrangement with the company.

      Zimplats said the Ngezi mine was on track to begin full production by June or July.

      "Overall we are very happy about the way things are progressing," Pitchford said.

      "The post-election mood is one of disappointment but for Zimplats, it is business as usual," Pitchford said.

      Zimbabwe`s mining industry was on a knife edge with the country`s gold mining industry on the brink of collapse.

      The platinum industry, unlike the gold industry which sells it production to the Reserve Bank of Zimbabwe, earns its revenues in hard currency.

      Gold mine closures have reduced Zimbabwe`s gold output by more than a third in just two years but the platinum industry was blooming.

      Implats confirmed that its investment was secure.

      David Brown, the financial director of Implats, said there had been "no interference at this stage".

      Implats also has a 35 percent stake in ZCE Platinum, the sole owner of the Mimosa platinum mine, which gives it access to about 85 percent of the Zimbabwe`s Great Dyke, the world`s second largest platinum deposit.

      "It is about weighing up the risk versus the opportunity of mining in Zimbabwe. We knew what we were facing when we decided to go into Zimbabwe but it was more about positioning ourselves for the future," Brown said..
      Avatar
      schrieb am 12.04.02 14:38:48
      Beitrag Nr. 177 ()
      http://www.miningweekly.co.za/?show=20686

      Zim workers seize gold assets

      About 300 workers at Procter Metals ‘C’ mine in Mberengwa, Zimbabwe, have seized the company’s assets in response to incitements by President Robert Mugabe during his election campaign.
      Associated Mine workers Union (AMU) area adviser, Custom Machanja, who is aligned to Zanu-PF, confirmed the takeover and said it was in line with Mugabe’s call, reports the Zimbabwe Standard.

      “The workers have taken over the stamp mill, which they use to process gold ore they obtain through panning.

      “They have formed a cooperative and want to form a joint venture with management, which failed to pay them retrenchment packages,” Machanja said.

      During a campaign rally on February 15, Mugabe claimed that gold-miners in the region were deliberately closing down in order to to bring down his beleaguered government through a worker revolt.

      He promised to fix such companies by expropriating their assets.

      The position was restated as official policy this week by AMU’s Machanja, who admitted that the government wanted to take advantage of problems in the gold sectors to drive out ‘foreigners’, meaning non-black entrepreneurs.

      This is seen as an extension of the government’s racist economic policy, which was first seen in the form of farm and company invasions.

      Meanwhile, the army recently chased off hundreds of illegal gold panners operating in rivers on the occupied farms.

      The miners expressed outrage at the development as Zanu-PF had promised them protection if Mugabe won the elections.

      Public Service, labour and social welfare minister July Moyo addressed a campaign rally and said government welcomed the panners’ initiative as it was generating jobs.
      Avatar
      schrieb am 23.04.02 09:07:30
      Beitrag Nr. 178 ()
      Die negativen Effekte realitätsferner, nicht vom Markt bestimmter Wechselkurse werden im Fall Simbabwes sehr "schön" vor Augen geführt.
      Pappnasen wie Oskar Lafontaine, die nach wie vor glauben, Wechselkurse sollten von Politikern festgesetzt werden, kümmert so was natürlich nicht ... :mad:
      Mugabe und Oskar sind eben Verwandte im Geiste.
      Gut, daß einer der beiden schon weg vom Drücker ist.


      --------------


      Chamber of Mines Calls for Devaluation

      Story Filed: Friday, April 19, 2002 10:17 AM EST

      Apr 19, 2002 (Zimbabwe Independent/All Africa Global Media via COMTEX) -- AS most of the country`s mines battle to survive, the Zimbabwe Chamber of Mines has appealed to the government to devalue the local currency to ensure continuity for its members in the ailing precious metal industry.

      The latest appeal comes against the backdrop of mine closures and retrenchment in that sector over the past two years.

      David Murangari, chief executive, said that due to various economic factors that are prevailing in the country, devaluation alone would not be sufficient to assist in the sector plight.

      "The figure for devaluation which is necessary to ensure continuity of the sector becomes very difficult because we are dealing with a host of factors that are working against us," said Murangari.

      "In that case the figure becomes very difficult maybe the dollar should be devalued to 200 against the US, but under the circumstances, a much more higher figure might be realistic since there are a lot of issues that have to be looked into," he said.

      Murangari said that although devaluation was necessary, he warned that if not matched by other policy implementations, it won`t work.

      "Devaluation if not matched by other policy measures would not help the situation at all," he said.

      "Presently, mines are making losses, the support price is now in place, but there is need for a right currency adjustment that is matched with other policy measures."

      Although most investors, including potential mining investors, had adopted a cautious approach towards Zimbabwe before the presidential election, there is hope that the sector would eventually improve.

      Of major concern to the gold producers in the country is what many have termed the prejudicial control of production.

      "The major problem we are facing is that all our production is subjected to prejudicial controls by the Reserve Bank who are only allowed to market the gold on our behalf," said one senior executive in the gold sector.

      Another official within the mining sector said that although their gold was being sold at $98 compared to the official rate of $55, adding that this was not enough the sector was sourcing inputs at between $300- $360 against the greenback.

      "We are seeing a significant decline in gold production, we have been forced to mine high grade ore to ensure continuity but this is very expensive."

      Murangari said that despite the decline in the mining sector, foreign investors have since shown their interest in development of the platinum group metals.

      "There are still some investors, but my projections are that growth would come from platinum group metals," he said.

      Hardest-hit by the decline was the gold producers who recently got a temporary reprieve as they had their prices adjusted.

      The yellow metal producers were greatly affected by the hedging of the local currency against the green back yet most their equipment including the explosive are imported.

      The Zimbabwe dollar has been fixed at 55 to the US since November 2000, but trades at between 335-355 on the parallel market.

      Yellow metal output, which accounts for about 52% of total mining production, dropped to 18 tones last year from 27,7 tones in 1999- thus a 34,9% drop over a period of two years.

      The players also cited the withdrawal of exploration tax which is no longer deductable as affecting their continuity. The withdrawal was done 18 months ago by the government.

      Murangari said as well as advocating for the devaluation, they have also been meeting both the ministries of Mines, Finance and the Reserve Bank of Zimbabwe to highlight their plight.

      "So far we have had very good meetings, together we are working to address the problems the sector is facing, the meetings have been so far successful but urgent solutions are needed." he said.

      However, prospects for a devaluation of the Zimbabwean currency appear remote after the government indicated that there was no consensus on devaluation.

      Yellow metal producers have so far been kept afloat by the introduction of floor price, which was raised to $29,280 an ounce last month, whilst producers can also retain 40% of their foreign currency on all capital developments.

      by Godfrey Marawanyika
      Avatar
      schrieb am 30.04.02 14:28:41
      Beitrag Nr. 179 ()
      ODJ Zimplats Sees Ngezi PGMs Project Fully Commissioned In Q2

      London, April 29 (OsterDowJones) - Zimbabwe Platinum Mines Ltd, or
      Zimplats, said Monday that the development phase of its Ngezi platinum group
      metals project moved closer to completion in the first quarter and is expected
      to be completed by the end of the second quarter. Re-commissioning of the
      smelter and the export of the first smelter matte consignment was completed in
      the first quarter, leaving two converters to be re-commissioned.
      By the end of March, Zimplats had spent $28.5 million of the scheduled
      $30.7 million capital cost of the project.
      At the Ngezi mine, 5.12 million metric tons of bulk waste and 229,000 tons
      of ore was produced in the first quarter, although mining tonnages were
      negatively affected by lower than expected contractor equipment availability
      and abnormally high rainfall in January, the company said.
      Modifications to the mining equipment, plus additional units, have resolved
      the mining equipment constraints, Zimplats said, with changes to the drainage
      system around the opencast workings and the end of the wet season having
      improved mining conditions.
      Avatar
      schrieb am 02.05.02 11:35:10
      Beitrag Nr. 180 ()
      http://library.northernlight.com/FC20020501380000182.html?cb…

      Zimplats Set to Produce 6 000 Tonnes of Ore Daily


      Story Filed: Wednesday, May 01, 2002 10:32 AM EST

      May 01, 2002 (The Herald/All Africa Global Media via COMTEX) -- Zimbabwe Platinum Mines Limited (Zimplats) will by August this year be producing 6 000 tonnes of ore a day.

      The company had set to reach the 6 000 tonnes of ore daily by the end of this month but had to revise the set-down figure to August.

      In its quarterly report, Zimplats said the mining tonnage had been negatively affected by lower than expected contractor equipment availability and abnormally high rainfall in January. However, modifications to the mining equipment, plus additional units, reduced the mining constraints and production was set to increase.

      Zimplats is expected to improve its crushing facility as the present one was being weighed down by excessive wear, inhibiting the crushing of the required daily tonnage.

      Current production level stands around 4 800 tonnes of ore daily.

      When in full operation, Zimplats is expected to produce 600 000/oz of platinum, palladium, rhodium and gold a year. Zimplats is exploiting platinum metals on Zimbabwe`s Great Dyke, the world second largest platinum deposit.

      Zimplats managing director Mr Roy Pitchford said feasibility studies were at an advanced stage to expand the company`s operations at Makwiro from open cast to underground mining, which is set to improve the production levels further.

      The expanded production levels are also set to create employment in excess of 400 permanent employees and a further 400 indirectly.

      The setting up of the open cast mining at Ngezi has seen various companies, including transporters and miners, being awarded lucrative contracts.

      The Australian-listed company, in which Impala Platinum and Absa hold 15 percent stakes, is currently in talks with the National Invest-ment Trust to buy 15 percent shareholding in the company.

      Mr Pitchford said the NIT was in the process of raising funds to conclude the deal and if it goes through it will be one of NIT`s largest black economic empowerment exercises.

      "The National Investment Trust is currently seeking to raise funds to take up the placement shares," said Mr Pitchford.

      Delays by the NIT in acquiring the intended stake in Zimplats has been attributed to the shortage of foreign currency in the country but Zimplats has undertaken to explore if it could place the empowerment shares with the NIT.

      The deal is part of a framework agreement signed between the Government and Zimplats in December 2001 where the Austra-lian-based company undertook to sell some of its shares to local empowerment investors.

      Exploitation of platinum metal is a relatively new phenomenon in the local mining industry but the sector was given a major boost following the opening up of Zimplats and Mimosa Mines.

      Zimbabwe currently exploits close to 40 different kinds of metals, including copper, gold and silver.

      Investment into the sector in recent years has attracted funding in excess of US$100 million (about $5 billion).

      There have been calls to focus national activities on agrarian and mining activities to boost the country`s foreign currency earnings.

      by Business Reporter
      Avatar
      schrieb am 09.05.02 22:19:25
      Beitrag Nr. 181 ()
      http://www.zawya.com/Story.cfm?id=129u9244&Section=Markets&p…

      Zimplats Set to Increase Its Smelter Production

      May 07, 2002 (The Daily News/All Africa Global Media via COMTEX) -- Zimbabwe Platinum Mines Limited (Zimplats) says it expects smelter production to gradually increase during the next two quarters as company operations gather momentum.

      Zimplats is listed on the Australian Stock exchange. In his report for the March 2002 quarter, the company`s chief executive officer, Roy Pitchford, said the smelter production during the current quarter totalled 503 tonnes furnace matte compared to a forecast of 1 468 tonnes.

      He said 668 tonnes of this furnace matte was to be processed through the converters to produce 200 tonnes of converter matte. He said for the quarter ending June 2002, 2 250 tonnes of furnace matte was forecast to be produced, with 1 430 tonnes processed through converters to produce 390 tonnes of converter matte.

      Pitchford said: "A fire in the furnace electrode level control section in February damaged the electrical and hydraulic equipment. "No structural damage was done to the furnace or the smelter building and the repair of the electrical reticulation and hydraulic equipment was completed within two weeks."

      He said during the repair work the furnace cooled and a further two weeks were required for the controlled re-heating process. A total of four weeks smelting was also lost.

      "During this period concentrate continued to be produced, part of which was sold to Impala Refining Services Limited, but the major part was stockpiled for smelting during the quarter ending June 2002," he said.

      "During the coming quarter the smelter will process most of the stockpiled concentrate, with the balance being processed in the first half of the September quarter."

      Pitchford said the prices for the company`s products had been well during the quarter despite the international low figures. "PGM prices have held up well during the quarter," he said.

      "The major world economies appear to be moving away from recession and the demand for PGMs has been reasonably good." The PGM prices for platinum averaged between US$475,18 (Z$26 125) and $514,90 (Z$28 270) between January and March, palladium, $415,00 and $377,32, while rhodium averaged between $1 022,01 and $984,96, for the same period respectively.

      Pitchford said the company`s share price had retained the increase achieved during the previous quarter.

      by Ngoni Chanakira
      Avatar
      schrieb am 20.05.02 11:28:05
      Beitrag Nr. 182 ()
      http://library.northernlight.com/FC20020519260000021.html?cb…

      Zimbabwe Platinum Firm Completes Smelter Recommissioning

      Story Filed: Sunday, May 19, 2002 4:22 PM EST

      HARARE, May 19, 2002 (Xinhua via COMTEX) -- The Zimbabwe Platinum Mines has completed its smelter recommissioning and has exported its first smelter matte consignment, the Zimbabwe Inter Africa News Agency reported on Sunday.

      In its first quarterly report for this year, Managing Director of the platinum mines Roy Pitchford said the converters were the remaining processing facility to be recommissioned.

      "The two converters are scheduled to be recommissioned during the June quarter," said Pitchford.

      He said roadtrain haulage had commenced smoothly and all nine roadtrains were now operational.

      The roadtrains had demonstrated their ability to move all the required tonnage on a daily basis from Ngezi to Selous, he said.

      Pitchford said platinum prices had held up well during the quarter and demand had been reasonably good.

      The Zimbabwe Platinum Mines bought assets of Australia`s mining Broken Hill Proprietary Company in January last year.

      Zimbabwe is believed to have the largest reserves of platinum in the world.

      When fully operational, the Ngezi project could see Zimbabwe becoming the second largest platinum producer in the world after South Africa.

      Full production of 2.2 million tons per annum would be achieved in later this year, the report said.

      The ore will be processed into 98,000 ounces of platinum, 86, 000 ounces of palladium, 8,000 ounces of rhodium and 11,000 ounces of gold.

      The mining industry is Zimbabwe`s second largest foreign currency earner after agriculture and employs more than 50 000 workers.

      XINHUA NEWS AGENCY.
      Avatar
      schrieb am 14.06.02 12:59:35
      Beitrag Nr. 183 ()
      Platinum Set to Be Largest Forex Earner



      Story Filed: Wednesday, June 12, 2002 5:26 PM EST

      Jun 12, 2002 (The Herald/All Africa Global Media via COMTEX) -- DEVELOPMENTS in the platinum industry should make the mineral the largest single foreign currency earner ahead of gold and tobacco in the next few years.

      Industry projections have said the year 2004 should see platinum being the country`s largest foreign currency earner.

      Platinum mining has been given a further boost by the continuing firming of the mineral price on the world market.

      The Government is already courting some of the world`s biggest producers of platinum to set up a refinery in the country to enhance foreign exchange earnings.

      Prices increased from US$475,18 a kg in January this year to US$514,90 in March.

      The industry, which is still in its infancy is set to be the largest export earner taking advantage of the vast under exploited deposits along the Great Dyke.

      Zimbabwe has the second largest deposits of platinum after South Africa, which is the world`s largest producer of platinum contributing about 70 percent of the world`s needs.

      Industry sources estimate that last year alone the mineral earned close to US $30 million.

      "Platinum has the potential to surpass both gold and tobacco as the country`s largest forex earnings contributing close to 50 percent of country`s foreign currency needs," said an official with the Ministry of Mines and Energy.

      Working is already nearing completion at the chrome-mining giant Zimbabwe Mining and Smelting Mine Company (Zimasco) expansion programme at its Mimosa Mine.

      The expansion programme, which began at the end of 2001 at an estimated cost of US$40 million (about $2,2 billion) will see the mine`s production rising from 325 000 tonnes of ore to 1 350 000 per annum.

      Upon completion, the expansion programme will see concentrate production rise from 15 000 ounces a year to approximately 70 000 ounces.

      Expansion programme is also at an advanced stage at Zimplats and when fully operational the mine is expected to produce close to 2,2 million tonnes per annum from the Ngezi/SMC by the end of this year.

      Zimplats bought assets of Australia`s mining Broken Hill Proprietary Company last January.

      These included the mill, concentrator and smelter, which were collectively known as SMC, whose re-commissioning has now been completed allowing for the first ore to be transported to Selous.

      Mining is the second largest foreign currency earner after agriculture and employs more than 55 000 workers.

      The prospects of mining are looking brighter because of the incentives introduced by Reserve Bank of Zimbabwe to cushion miners against poor international prices.

      Tobacco industry has been hit by a spate of low prices at the auction floors.

      More than 170 million kg of tobacco is expected to be to be sold at the floors, challenging last year`s 200 million-kg which fetched $35 billion.

      Copyright The Herald. Distributed by All Africa Global Media(AllAfrica.com)

      KEYWORD: Zimbabwe
      Avatar
      schrieb am 14.06.02 16:44:58
      Beitrag Nr. 184 ()
      Platinum Group Metals to Earn US $170m By 2004


      Zimbabwe Independent (Harare)
      June 14, 2002
      Posted to the web June 14, 2002

      PLATINUM group metals (PGMs) are set to earn the country more that US$170 million at current prices for the metals if production targets are reached by Zimplats and Mimosa Platinum.

      Around 13 metals are extracted commercially from the PGM spectrum. The three major PGMs are platinum, palladium and rhodium, but gold, silver, copper and nickel are also recovered.

      Last week, it was announced that Aquarius Platinum paid ZCE Platinum a notional US$39 million (settled with the issue of 6,8 million new Aquarius shares) for a 50% stake in Mimosa Platinum. Impala Platinum, the biggest shareholder in Aquarius, already owns 35% of ZCE and processes Mimosa`s concentrate in South Africa.

      Mimosa is forecast to reach full production in 2004 and produce 68 000/oz, while Zimplats, which has been experiencing production problems, is expected to produce 98 000/oz by the end of the year. If projected production targets are reached, platinum production is expected to rise to around 170 000/oz by 2004 from about 30 000/oz currently, earning the country some US$95,2 million at the current London spot price of $560/oz.

      Palladium prices have slipped to around $345/oz after soaring to over $1 000/oz early in the year, while rhodium fetched over $7 000/oz back in the early 1990s, but are now currently around the $1 800. At current prices, palladium earnings would amount to $48,3 million on expected production of 140 000/oz in 2004 while rhodium sales on volume of about 15 000/oz would net $27 million.

      Metals analysts in London forecast PGM prices to remain firm in medium- term. Prices are largely driven by demand for platinum jewellery, catalytic converters (to lower carbon monoxide emissions from cars) and in a variety of industrial applications.

      Analysts said that unlike the previous major foray into platinum mining - BHP`s Hartley Platinum - the Ngezi project operated by Zimplats and Mimosa looked more promising.

      While Zimplats is yet to hit its production targets, platinum analyst Kevin Kartun said Mimosa had a successful track-record operating on the Great Dyke. ZCE Platinum bought Mimosa from Union Carbide in the mid-1990s in a management buyout, while Impala Platinum (Implats) holds a 35% stake in Mimosa which it acquired in July 2001 for US$30 million.

      JB Were analyst Ian Preston said the Mimosa`s resource base would support a mining rate of 1,6 million tonnes a year for 50 years with PGM production of 135 000/oz. He expected that at some point, either Impala or Aquarius would buy the remaining 15% of Mimosa and noted Implats, through it`s direct and indirect interest in Aquarius, Zimplats and Mimosa, has access to over 80% of the Great Dyke`s known PGM resources.

      Analysts added the future structure of relationship between Zimbabwe`s platinum companies was also be of interest. "Given that Implats already have a direct interest in Zimplats, at both the operational level as well as in the shareholding of Zimplats, we would expect that Aquarius could well be attracted to join Implats in acquiring a further interest and ultimately control of Zimplats," Preston said.

      Analyst Dave Russell speculated that Implats might be the next South African company to move offshore following Aquarius` investment.

      "In effect by, Aquarius taking a stake in Mimosa, we may be seeing the first stage of an offshore move by Implats - remember Aquarius is listed in London as well and reverse takeover bells may be sounding ... in addition the new CEO of Aquarius Stuart Murray used to be on the board of Implats," he said. - Staff Writer.
      Avatar
      schrieb am 02.08.02 12:43:02
      Beitrag Nr. 185 ()
      AUSTRALIA`S ZIMPLATS SAYS NGEZI PLANT OPERATING SMOOTHLY


      Story Filed: Thursday, August 01, 2002 5:20 AM EST

      PERTH, Aug 01, 2002 (AsiaPulse via COMTEX) -- Zimbabwe Platinum Ltd (ASX:ZIM) said that its processing plant at the $US60 million ($A110.8 million) Ngezi platinum mine is now operating at full design capacity after some initial mechanical problems.

      In mid-June the company said the mine, in which Impala Platinum holds a 30 per cent stake (as well as a 30 per cent interest in Zimplats), was operating at 90 per cent of design capacity.

      However, several major modifications completed during a 10-day shut down in May enabled the plant to operate at full design capacity by the end of June.

      The June quarter marked the company`s transformation from the development phase of the project to the production phase and saw Zimplats produce 36,278 ounces of platinum group metals and gold, including 17,900 ounces of platinum.

      The full production target is 2.2 million tonnes of ore per annum to produce around 200,000 ounces of platinum group metals.

      Zimplats said the improved mining volumes for the quarter reflect the better performance of the contractor`s mining equipment while a new crusher feeder had sufficient capacity to process the necessary volume of ore for its Selous metallurgical complex (SMC).

      Zimplats is transporting ore 77 kilometres from the open cut mine to Selous, where it is being treated at the recommissioned Hartley Platinum plant at the SMC.

      The group said the road trains were operating well, with sufficient capacity to transport the ore requirements for the complex.

      It also said today the project had become cashflow positive during the quarter with an operating cash flow of $US4.6 million.

      The Ngezi mine was acquired in 1986 by Delta Gold Ltd, from which Zimplats was spun off in 1998.

      Delta`s interest was then transferred to AurionGold following its merger with Goldfields late last year, leaving AurionGold with a 21 per cent interest in Zimplats.


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