News

DEPUTY President of the Senate Mike Nyambuya has summoned Finance minister Mthuli Ncube to Parliament to present a ministerial statement explaining how gold coins will stop the country’s economic haemorrhage. This is after leader of government business in the Senate Monica Mutsvangwa failed to “satisfactorily” respond to questions on the purpose of the gold coins. […]

A SENATOR and economic analysts have dismissed government’s new gold coins as elitist and told Finance minister Mthuli Ncube to sort out the country’s financial mess. This is after Reserve Bank of Zimbabwe governor John Mangudya on Monday announced that the newly introduced gold coins would solve the country’s runway inflation and act as a […]

VICTORIA Falls Stock Exchange (VFEX)-listed Caledonia Mining Corporation says gold production at Zimbabwe based Blanket Mine has been strong, and is on track to hit the top end of its guidance range of 73 000 to 80 000 ounces. In a shareholder update, Caledonia, which is also listed on the New York Stock Exchange and […]

BULLS will aggressively charge into Zimbabwe’s gold stocks this year, as investors pile up trades, attracted by strong international commodity prices, according to new projections by Inter Horizon Securities (IH). It said the charge would be relentless and bulls would be unblinking, but warned investors to guard against over excitement. The country’s two bourses, Victoria […]

The Zimbabwe Energy Regulatory Authority (ZERA) has reviewed the prices of diesel and blend for the month of July 2022. In a notice seen by Pindula News, ZERA said it had increased diesel and blend prices in Zimbabwe dollars. ZERA said diesel now costs ZWL$699.62 up from 661.73per litre. Petrol (Blend – E15) now costs […]

Prospective drilling for oil and gas in Muzarabani, Mashonaland Central Province, is expected in August after customs clearance delays for the drilling rig in both Tanzania and Mozambique. The task was initially set for June after the Exalo Rig 202 was mobilised from Songo Songo Island in Tanzania to Cabora Bassa. It is now expected […]

The Hwange Thermal Power Station Unit 7 and 8 expansion programme is now at 88 per cent, the Zimbabwe Power Company (ZPC) has said. The two units are expected to fully come online by March 2023 and will add around 600MW of power to the national grid when fully operational. In a statement, ZESA Holdings’ […]

A GROUP of 18 farmers in Concession, Mashonaland Central Province, have clashed with a gold mining firm only known as Zawadi who allegedly pegged part of their land for mining purposes. The farmers, who are all holders of offer letters from the Lands ministry, were allocated the plots in 2001 at the peak of the […]

PREPARATIONS for Zimbabwe’s largest mining stakeholders gathering, Mine Entra are advanced with 115 exhibitors having booked for the exhibition later this month. The exhibitors include four from China, South Africa and United Kingdom. The exhibition will run from July 20 to 22 under the theme Explore. Extract. Expand: Towards Sustainable Mining Value Chains, highlighting the […]

Zimbabwe is witnessing an influx of Chinese investments in the mining sector, as the resource-rich southern African country seeks to increase mineral production and maximize beneficiation in order to get better returns from its vast mineral wealth. In 2019, Zimbabwe set out an ambitious drive to more than quadruple mining sector revenue by hauling minerals […]