News

THE Solidarity Mine Workers Union of Zimbabwe (SOMWUZ) has dragged into the spotlight diversified mining group RioZim Limited over unpaid packages of 191 workers retrenched last month. SOMWUZ secretary-general Prince Mpala claimed that the company was ill-treating its local employees. “The miners are being treated as slaves and we as a trade union are pushing […]

Miners can receive 80% of payment for extra output in dollars Chamber of Mines says good policy if companies can lift output Zimbabwe extended an incentive for the country’s biggest gold miners to produce above state-set output targets. Large producers that exceed their goals will receive 80% of the payment for the additional output in […]

INVICTUS Energy — the Australian headquartered resources outfit that is hoping to make Zimbabwe’s first oil find — says it is unfazed by fears it could strike dry seams as it is pursuing a multi-commodity business model. If it does not get oil, Invictus will be comfortable with gas, given that demand for the commodity […]

JUSTICE, Legal and Parliamentary Affairs minister Ziyambi Ziyambi has defied the Supreme Court by appointing Munashe Shava as the administrator for Hwange Colliery Company Limited (HCCL) despite the Court recently dismissing his appeal seeking approval to impose a Reconstruction Order on the coal miner. The government holds a 52% stake in the coal mining entity, […]

Global exploration giant Invictus Energy Limited estimates that Zimbabwe holds one of the world’s largest oil and gas deposits. The Australian based company’s latest report states that the Muzarabani prospect in Zimbabwe’s Mashonaland Central Province holds 1.3 billion barrels of oil equivalent, consisting of 6.5 trillion cubic feet and 200 million barrels of oil. Invictus […]

PARLIAMENT’S Portfolio Committee on Mines and Mining Development has raised serious concerns over gold smuggling and the general chaotic state of Zimbabwe’s gold mining sector. Committee chairperson Edmund Mkaratigwa was quoted as saying: “Sadly there are leakages and a weak legal framework, which is making it difficult for citizens to fully benefit from these minerals. […]

Gold miners say they can only invest the US$1 billion required for development over the next five years if they can retain a greater share of their foreign exchange earnings. In January last year, the central bank announced that exporters must hand over 40% of their foreign currency earnings, which is then paid out in […]

Government has injected US$15 million towards the expansion of Feruka pipeline, as it scales up plans to convert the Msasa fuel depot in Harare into a regional inland hub for fuel distribution for Southern African Development Community (Sadc) countries. Energy and Power Development permanent secretary Gloria Magombo said the programme will enable trucks to deliver […]

Zimbabwe says it is in talks with the Dubai unit of SkyPower, a renewable energy projects developer, to build 500MW of solar plants in the country. The proposed solar parks would be built in phases, the government said on Tuesday, but gave no financial details. “The Framework Agreement will pave way for engagement between SkyPower […]

Kuvimba Mining House, the country’s biggest gold producer by output, plans to increase output at Shamva Mine fivefold by next year. The government holds a 65% stake in Kuvimba, which bought Shamva from Metallon in 2020 as part of a rush of mine asset acquisitions. “Shamva is coming up with a huge expansion project which […]