News

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 […]

AUSTRALIA-headquartered oil and gas outfit, Invictus Energy announced fresh discoveries at its Zimbabwe-based Mukuyu gasfields on Monday, as it laid out plans to blast its first test well from next month. The fresh discovery marks a dramatic shift in the Australia Stock Exchange (ASX)-listed outfit’s Zimbabwe strategy. Only 12 months ago markets were left wondering […]

CHINESE chrome miner Afrochine has underscored that it has no intentions to start operations in Mavuradonha due to what it cited as “toxic media attention” against the entity and perceived anti-investor sentiments. The company, which also mines chrome in Selous, holds vast claims of chrome in Mavuradonha. Mavuradonha, a natural habitat of wildlife, has been […]

Government likes to tout mining as the sector that will lift Zimbabwe’s economy from crisis, but miners say its policies are, in fact, hurting them. Currency regulations, lack of clarity on policy, high taxes and underinvestment in power are hurting investment, the Chamber of Mines says. Mines have presented a paper to Finance Minister Mthuli […]

Leading financial services institution, Stanbic Bank, has adopted a growth strategy for the mining sector as it seeks to play a pivotal role in boosting the sector in line with Government targets. Stanbic Bank CEO, Solomon Nyanhongo told the Chamber of Mines dinner attendees that the institution was committed to finding lasting solutions towards consolidating […]