Mining Laws: Other countries, other customs
Receive up-to-date information about the company directly via push notification
Zimbabwe has great potential in mining, raw materials are available. The deposits are not so deep, and the gold density is high in the country. However, the legislation still needs some modernization so that mine operators like to work in Zimbabwe. The pressure to reform is currently growing. The problem is that gold produced from a mine has to be sold to the local central bank and the proceeds are partly paid out in the local currency.
Currently, with the high price of gold, mine operators can increase their pressure on the government to change this old practice. The current situation is no problem if the local money earned can be paid out to the mine workers as wages and the rest remains with the mine operators in US dollars. An example of a successful gold company in Zimbabwe is Caledonia Mining https://www.youtube.com/watch?v=MtVFyposDm4 .
Caledonia Mining's Blanket gold mine generated gross revenues of just over $25 million in the third quarter of 2020, up 27 percent from the third quarter of last year. The company plans to increase gold production and build a solar power plant.
Another country that still offers many opportunities for gold prospectors is Ecuador. Large resources, a mining-friendly government, low energy costs, and previously untapped potential have attracted gold companies such as Adventus Mining - https://www.youtube.com/watch?v=WPa-Ui6aVns&t=4s.
Gold and copper are the raw materials in the Curipamba, Pijiili and Santiago projects being pursued by Adventus Mining. Salazar Resources is a partner in all projects. Drilling and exploration work is proceeding at full speed on the three projects.
Current company information and press releases from Caledonia Mining (
www.resource-capital.ch/en/companies/caledonia-mining-corp/)
and Adventus Mining (www.resource-capital.ch/en/companies/adventus-mining-corp/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also
applies: https://www.resource-capital.ch/en/disclaimer/