News

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 […]

THE Minerals Marketing Corporation of Zimbabwe (MMCZ) is set to regulate domestic chrome ore sales following price distortions in the sector. According to Statutory Instrument (SI) 111 of 1983 — Minerals Marketing Corporation of Zimbabwe (Exemption) Regulation 1983 section 3, local chrome sales are exempt from regulation by the MMCZ. “However, in light of the […]

The Government has signed an MoU with Eagle Canyon International of Hong Kong and Pacific Goal Investment to develop an industrial park to process battery minerals such as lithium and nickel. The ambitious plan would cost at least US$2.8 billion. The park, to be located at Mapinga in Mashonaland West, would be home to lithium-salt […]

ZIMBABWE’S civic society organisations have raised fresh concerns over elevated plunder of the country’s resources by multinationals, and are pushing to close loopholes. During a crucial conference on resources last week, leading resource campaigners said they were also concerned that as clear pillage and plunder was taking place, government was pampering the same corporations with […]