News

Zimbabwe’s first satellite — ZimSat-1 — will reach the International Space Station (ISS) next month before its launch into orbit in November, marking the country’s entry into space after a two-month delay caused by inclement weather. ZimSat-1 will be on board the Cygnus NG-18, an uncrewed spacecraft that provides commercial cargo resupply services to the […]

THE Mines and Mining Development ministry failed to submit records over its operations to the Auditor-General (AG)’s Office for the 2021 period. “Mines and Mining Development ministry did not submit for audit the annual performance reports for the year ended December 31, 2021. I was, therefore, unable to assess the ministry’s achievement of the targets […]

AFRICA Oil Week, a prestigious global platform for stimulating deals and transactions across the continent held annually, will this year host Zimbabwe’s Energy Minister, Soda Zhemu. For over 25 years the event has brought together governments, national and international oil companies, independents, investors and providers to tap into the potential of the continent’s oil and […]

SOME 40 families facing displacement by a multi-million-dollar lithium mine in Buhera have now been relocated to new houses build by a Chinese company behind the project. Max Mind Zimbabwe established a lithium mine earlier this year in Ward 12 which falls under Chief Chitsunge, some 40km east of Murambinda town. As part of the […]

PETROZIM Line, the State-controlled firm that operates the 208 kilometre Feruka-Harare oil pipeline, has defaulted in servicing a £10 million loan extended by a United Kingdom-based lender about 30 years ago, burning substantial amounts in penalties. Official reports showed yesterday that the firm had settled most of the principal amount but has defaulted on the […]

The gold coins that have been in circulation in Zimbabwe for almost three months are a missed chance to build the nation’s gold reserves, according to the International Monetary Fund. “The sale of gold coins has contributed to withdrawing Zimbabwe dollar liquidity from the market, though it represents an opportunity cost in terms of foregone […]

HARRY Greaves, a founding director of Prospect Resources, has stepped down from the board of directors following “a well-planned transition,” the company has announced. Greaves was a founding director of the lithium miner — the first to carry out full-scale exploration in Zimbabwe at Arcadia. Under his leadership, the company acquired a portfolio of grassroots […]

A CHINESE stainless-steel firm constructing a US$1,5 billion plant near Mvuma says 40% of the project has been completed. An official said Dinson Iron and Steel Company (Disco) would begin production in August next year. Project manager Wilfred Motsi said the construction work at the massive operation was ahead of schedule. “I can safely say […]