News

Holcim is selling its Zimbabwe unit Lafarge to Fossil Mines, as part of its global asset sale. Fossil Mining is run by Obey Chimuka, a long-time associate of businessman Kuda Tagwirei, and is part of a group that has recently won a string of government infrastructure contracts. “Further to the cautionary announcement dated 31 May […]

Russia’s Vi Holdings says it has exited from Great Dyke Investments (GDI), leaving the futute of what is supposed to be Zimbabwe’s biggest platinum project at risk. Vi Holdings is ceding its 47.8% stake to its local partners, Kuvimba Mining House and Fossil, according to Vi Holdings representative Igor Higer. In a statement, GDI said […]

GOVERNMENT has set up an inter-ministerial team to oversee the improvement of security systems at ports of entry to curb mineral smuggling, Mines and Mining Development deputy minister Polite Kambamura has said. A 2019 report by the International Crisis Group estimated that the country was losing around US$1,5 billion a year through the smuggling of […]

MOTI Group will double its production by 100% to 20 000 tonnes of chrome in the next two months from the current 10 000 tonnes as the diversified mining group targets a blitzkrieg in mineral production at its Midlands-based African Chrome Fields (ACF). The mining company is targeting a massive revamp in mineral production at […]

OUTPUT from Zimbabwe’s gold mines will rise to 60 tonnes in the next five years, generating US$3,5 billion at current prices, the Gold Producers Association of Zimbabwe said yesterday, before outlining a range of factors that could hold back the positive trajectory. The 60-tonne target will be 74% higher than the 35 tonnes of gold […]

FORMER Ziscosteel employees, who are still to be paid their retrenchment packages five years after government terminated their contracts, have now turned to parliament. In an interview, Chairperson for the Board of Trustees for Ziscosteel pensioners, Benedict Moyo, said: “As stakeholders, including former employees, we had a meeting where it was resolved that we petition […]

ZIMBABWE’S mining sector is battling a huge capital gap, resulting in some companies failing to meet targets, Chamber of Mines of Zimbabwe (CoMZ) chief executive Isaac Kwesu has said. “We are in the growth mode, recovering, and when you are in the growth drive, you really need to make sure that the capital expenditure and […]

Cheeky gold diggers in Kwekwe have been digging up Globe and Phoenix School premises, barrowing like rats under classrooms in search of the precious metal. The school head Isaac Bvupajena says: “They have been threatening the school security guard and other employees at the school with death. As school authorities, we are worried about the […]