News

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 […]

Victor Gapare was an executive at Anglo American Corporation Zimbabwe when the company exited Zimbabwe’s gold sector in 2003. Gapare was part of a management buyout that saw took over Bilboes, a mine 75km from Bulawayo. Bilboes holds some of the biggest gold resources in the country, but it needed extensive investment in exploration and […]

ZIMBABWE’S mining industry has warned that domestic suppliers risked being shut out of the industry’s value chain after hiking prices by 100%. The price rage involves deals in United States dollars, mining officials noted, as they queried the rationale behind steep price increases compared to global peers. It emerged during the ongoing Mining, Engineering and […]

MORE than 2 600 workers in the granite sector could be rendered jobless following the government ban on the export of raw granite, it has been established. There are claims that the government ignored pleas for more time by some operators to set up beneficiation structures. The government recently banned the exportation of unprocessed granite […]