News

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 […]

Spodumene and petalite producer, Bikita Sinomine has revealed the company achieved a clean sheet on safety, recording no fatalities or lost-time injuries in the first seven months of 2024. “We celebrate the attainment of zero fatalities and injuries in the first 7 months of 2024. At Bikita Minerals we value the safety of our employees […]

MUTAPA Investment Fund (MIF) has contributed US$5 million investment needed for the lucrative Invictus Energy Muzarabani project. The project is on the verge of establishing Zimbabwe as a key player in the oil and gas industry following confirmation of the presence of natural gas and oil condensate from samples tested at a laboratory in the […]

THE Economic Justice for Women’s Project (EJWP) has slammed the Mines and Minerals Bill for marginalising women in the mining sector arguing it falls short of empowering the gender group. The Bill’s has been in the pipeline since 2012 following the government and other stakeholders’ bid to align it to current developments in the mining […]

Lessons from Zimbabwe offer a practical roadmap for South Africa in creating an environment that is attractive to investors and conducive to business growth. This is according to renowned businessman Zunaid Moti, who was invited to make the keynote address to an audience of government, industry, and business leaders at the MCCI Energy and Investment […]

Invictus Energy has secured the backing of investor Mangwana Capital and the Mutapa Investment Fund to raise US$10 million to develop its gas find in Muzarabani. NSSA and the Public Service Commission are among the funds that are investing in Invictus. The company will issue 151,515,152 shares worth US$10 million in a private placement. Mangwana […]

SHAMVA Mine, a member of Kuvimba Mining House (KMH), plans to spend US$5,5 million this year to boost production and keep the mine running, according to general manager Gift Mapakame. The Mutapa Investment Fund-controlled KMH, acquired Shamva from Metallon in 2020 as part of a wave of mining asset purchases. Shamva had ceased operations prior […]