News

Government is failing to pay a long-standing US$50 million debt owed to a foreign mining company, and is instead seeking to have state mining company Zimbabwe Mining Development Corporation (ZMDC) use its assets to clear the bill. This has called into question the government’s “Open for Business” slogan that it has used to campaign for […]

UK-listed mineral explorer Kavango Resources says it plans a secondary listing on the Victoria Falls Stock Exchange (VFEX), hoping to attract local capital as it extends gold exploration in Zimbabwe. Kavango has engaged Inter Horizon Advisory as the lead financial advisor to the proposed transaction, the company said Friday. “The proposed listing will provide an […]

Minerals and alloys remain the largest contributor, contributing 78 percent to total exports between January and May 2024 although the mining sector’s contribution slightly declined from 79 percent in the same comparative period the previous year, revealed Zimtrade in its latest website update. “Minerals and alloys continue to dominate, contributing 78 percent to total exports, […]

Invictus Energy has commenced trading on the Victoria Falls Securities Exchange (VFEX) as part of the Company’s US$10 million Placement launched last week. The listing marks a significant milestone for the company and the Cabora Bassa project, facilitating greater and ongoing domestic investment, and reinforcing IVZ’s commitment to driving growth and development within Zimbabwe. The […]

THE government says it will take stringent measures against mining companies that fail to comply with environmental and labour laws, ensuring that mining activities are conducted responsibly. Several chrome and gold miners have recently faced charges for violating these laws. In an interview with the Zimbabwe Independent, Mines and Mining Development minister Winston Chitando highlighted […]

INVICTUS Energy has completed the raising of US$10 million from institutional investors, giving it enough resources to progress the Cabora Bassa project and dual-list on the Victoria Falls Stock Exchange (VFEX), the company said yesterday. The institutional placement was managed by Mangwana Capital. Mutapa Investment Fund has underwritten US$5 million of the placement, demonstrating long-term […]

UNION leaders in the Energy sector have bemoaned plans by the government to close and repurpose three coal-fired plants saying such a move will have a bearing on jobs in the country. Last year the Energy and Power Development Ministry unveiled plans to decommission small thermal power stations in the country while driving more investment […]

Nine employees lost their lives out of the 4 334 workplace accidents recorded within the first four months of the year on the back of calls for the enactment of water-tight legislation to ease the tide. The stats were released by the Zimbabwe Congress of Trade Unions (ZCTU) at an event held to commemorate the […]

Intergrated steel manufacturer, Dinson Iron and Steel Company Zimbabwe (Disco) says the company has started production of steel billets at its Manhidze plant. Steel billets are a semi-finished product used in steel production. They are created through a process of casting molten steel into a rectangular or square shape, which is then allowed to cool […]