News

AIM-traded Galileo Resources plc, which in early August identified multiple gold targets on a permit it is exploring in Zimbabwe, says the same acreage has potential nickel mineralisation too. The company says the recent airborne geophysical survey undertaken by Xcalibur Airborne Geophysics over its two exploration licences comprising the Bulawayo Gold Project identified three nickel […]

Government says the first phase of a 2 000-metric tonne liquefied petroleum gas facility (LPG) will be commissioned in Ruwa next year. Consumers have shifted to liquefied gas since the southern African country was hit by a severe energy crisis in the last few years. Gloria Magombo, permanent secretary in the Energy and Power Development […]

MZINYATHINI villagers in Umzingwane, Matabeleland South are up in arms against a miner they accuse of pegging his mining claims on their farmland. Ward 3 village co-ordinator David Mpofu confirmed the developments to Southern Eye saying the miner was making life unbearable for the villagers, and threatening to shoot them. Mpofu said the miner, France […]

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 […]