News

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 […]

NTOLA villagers in Umzingwane, Matabeleland South are furious after gold mining company, Heywood Mining pegged claims in graveyards, at a school and their farming land. Villagers are accusing traditional leaders of being complicit in the parcelling out of mining claims on their land to the miner. One village who requested anonymity said: “We are saddened […]

THE Zimbabwe Stock Exchange (ZSE) yesterday projected a fine run for its Victoria Falls Stock Exchange (VFEX) this year, with three companies ready to list on the bourse. VFEX, which exclusively trades in United States dollars, is a subsidiary of the ZSE. It kicked off trading in October 2020 under a cloud of uncertainty brought […]

SHENZHEN Stock Exchange-listed Suzhou TA&A Ultra Clean Technology company, which bought shares worth about US$15,7 million from Premier African Minerals, has agreed to provide a pre-funding amount of US$34,6 million for the construction of a large-scale pilot plant at the Zulu project. In a note to shareholders on Saturday, Premier, which is developing one of […]

A LITTLE-KNOWN but significantly influential domestic firm that shook the status quos to clinch a deal, giving it majority control of Lafarge Cement Zimbabwe, has escalated its excursion after reducing the transaction to a legal pact. In a market update Tuesday, the Zimbabwe Stock Exchange (ZSE)-listed cement maker said Fossil Mines Private Limited, which trumped […]

JOHANNESBURG Stock Exchange (JSE)-listed Pan African cement maker, PPC has said its earnings per share (EPS) from the Zimbabwean operations would be undermined by rocketing inflation. Ahead of releasing financial statements for the year ended March 31, 2022 next week, the South African-headquartered PPC issued a trading update yesterday, detailing how recent developments in Zimbabwe […]