News

JAILED former mines secretary, Francis Gudyanga’s application challenging conviction and sentence has been dismissed by Justice Benjamin Chikowero. Gudyanga had appealed against both conviction and sentence, arguing he did not steal from the state as accused. He was jailed by Harare magistrate, Barbara Chimboza, who suspended part of his sentence on condition he restitutes the […]

INVICTUS Energy Limited, which is exploring for oil and gas in the Cabora Bassa Basin, has been awarded three carbon offset projects in the south of the country, covering a combined 301,565 hectares of indigenous forests. The projects, entered into under a 30-year contract with the Forestry Commission of Zimbabwe (FCZ), are for the development […]

ZIMBABWE’S mining industry has mounted a fresh appeal for authorities to cut diamond royalties by three percentage points to save bleeding producers, as it emerged bankruptcies were lurking across coal extractors. Diamond miners are currently required to pay 10% of their gross earnings to the State in royalties. However, in a paper obtained during the […]

THE Reserve Bank of Zimbabwe (RBZ) has revealed that 1 500 gold coins were sold by its agents during the first week of their release onto the market, signalling a strong demand for the yellow metal currency but 85% of the sales were in local currency. The central bank, which released a total of 2 […]

ZIMBABWE Miners Federation (ZMF) boss Henrietta Rushwaya, accused of attempting to bribe a Civil Aviation Authority of Zimbabwe (CAAZ) official Owen Sibanda to let her pass through the Robert Gabriel Mugabe international airport with gold, will know her fate next week Thursday. Rushwaya has however denied the charges, arguing she did not bribe the Aviation […]

GOVERNMENT says the Mines and Minerals Amendment Bill when enacted will address critical issues affecting miners and bring sanity to the sector. But the proposed Bill has since drawn criticism from stakeholders over a clause requiring miners to appear before a board for licencing. The Bill seeks to amend the Mines and Minerals Act (MMA), […]

The Reserve Bank of Zimbabwe (RBZ) has said an additional 2 000 Mosi-oa-Tuya gold coins will be released into the market this week. The central bank released the first batch of 2 000 gold coins on the 25th of July 2022. In a statement, RBZ governor, John Mangudya said the central bank’s Monetary Policy Committee (MPC) […]

SOUTH African mining magnate Mzi Khumalo is under pressure to dispose of Redwing Mine in Penhalonga, Manicaland province and Mazowe Gold Mine in Mashonaland Central as the mines have become hotbeds for criminal activities by gangs terrorising the local communities. The two mines are owned by Metallon Corporation Group, Redwing Mining Company through King’s Daughter […]

Zimbabwe will double the royalty rate it charges mining companies on the platinum group metals (PGMs) they produce to 5% from January 2023 in a bid to increase government revenues. The country is the world’s third largest producer of platinum, after South Africa and Russia, hosting major miners Anglo American Platinum, Impala Platinum and Sibanye […]

Zimbabwe is facing an unpreecedented energy crisis after power utility indicated that it had no solutions to deal with rising demand. Existing mines and new smelters have lodged applications for an additional 2 100 megawatts (MW), indicating the crisis may deepen from 2025, when new smelters come on stream. At the end of last year, […]