News

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 […]

THE Chamber of Mines of Zimbabwe (CoMZ) says investors must not be dissuaded by fears of a grave crisis looming ahead, as authorities struggle to find viable solutions to prolonged turbulences. In an interview earlier this week at Mine Entra, CoMZ president Colin Chibafa said while the southern African country was far from perfect, investors […]

Chengxin, the Shenzhen-listed company that has acquired lithium prospects in Zimbabwe, expects to spend US$130 million to develop the new Sabi Star mine in Buhera. The company, listed on the Shenzhen stock exchange, spent US$76.5 million last September to buy 51% of MaxMind, which held claims. The acquisition was the first of a series of […]

Caledonia Mining has agreed to buy Bilboes gold mine for US$53 million worth of stock, a deal that could increase Caledonia’s gold output by four times. Caledonia currently owns Blanket Mine and has stated its ambitions to buy more mines to increase the number of its assets. The new deal involves Bilboes getting 5,123,044 Caledonia […]

THE mining industry has called on President Emmerson Mnangagwa’s government to transform promises for major policy reforms into a binding legal commitment in order to reactivate investor interest into the sector. A four-page document, which was dispatched to Finance and Economic Development minister Mthuli Ncube by the Chamber of Mines of Zimbabwe (CoMZ) last week […]

Mine workers want another salary increment as their recent salary hike has since been eroded by runaway inflation and the rising cost of living. In May this year, the Associated Mine Workers Union of Zimbabwe (AMWUZ), the National Employment Council (NEC) of the mining industry and the Chamber of Mines of Zimbabwe agreed on a […]

The Zimbabwean government instituted Statutory Instrument 127 of 2022 which effectively bans the export of raw granite unless authorised by the Minister of Mines. However, the law exempts exports to continue indefinitely for pre-existing valid contracts. Granite is a metamorphic rock that is typically used in construction as a hard surface. It is cut into […]