News

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, […]

Government has set aside resources amounting to US$10 million for the establishment of 10 gold centres, one for each province in support of the small-scale miners. In his 2023 budget strategy document, the Minister of Finance and Economic Development Mthuli Ncube said the gold centres will offer transport, technical services, milling services and a ready […]

Zimbabwe’s power utility ZESA Holdings Ltd. will no longer charge mining houses tariffs below cost of production as it is struggling to service “ballooning power import debt.” Exporters, such as mining companies, will be charged 10.63 US cents per kWh from Aug. 1, ZESA Executive Chairman Sydney Gata said in a letter to miners. Power […]

BLANKET Mine, a 64% subsidiary of Caledonia Mining Corporation, has injected US$360 000 dividend payment to Gwanda Community Share Ownership Trust (GCST), becoming one of the most lucrative community payback gestures in recent times. Commenting on the latest payout, Caledonia’s chief executive officer (CEO), Mark Learmonth, expressed commitment to continuously serve the community. “In October […]

Finance Minister Mthuli Ncube has announced a $929 billion supplementary budget of which 53% ($492.8 billion) will be gobbled by employment costs. A surplus of 300 million dollars as of the first half of 2022, As at end of June 2022, the public and publicly guaranteed debt stood at ZWL$1.3 trillion, Public Debt continues at […]

AUSTRALIA Stock Exchange-listed resources giant Zimplats has spent about US$326 million on various projects in the country, as the miner moves forward with its plans to ramp up production. According to its quarterly activities report for the period ended June 30, 2022, Zimplats said several projects were at different stages of implementation. “The development of […]

Caledonia Mining says it plans to invest US$250 million over three years to develop Bilboes Mine, once it completes the takeover of one of Zimbabwe’s most prized mining assets. Last week, Caledonia announced it had agreed a deal to take over Bilboes for US$53.3 million in Caledonia stock plus a royalty on revenues. Estimates show […]

AUSTRALIA-LISTED mining concern, Prospect Resources says the success associated with the Arcadia transaction had resulted in more opportunities being presented to the company. In April this year, Prospect completed the sale of its 87% interest in the Arcadia project to Huayou International Mining Limited for A$466 million (about US$377,8 million). “We are pleased to have […]