News

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 […]

Disco Iron and Steel Company, the Chinese firm that is constructing a US$1,5 billion steel processing plant near Mvuma, says a power deal signed with Zesa Holdings Limited on Monday will see the firm extend US$55 million in loans to the power utility. Zesa will inject the loan into the construction of a powerline linking […]

SOUTHERN Africa-focused oil and gas exploration outfit, Invictus Energy has signed a binding well services contract with Baker Hughes for its drilling campaign in Muzarabani. Baker Hughes is one of the world’s leading oilfield service providers, operating in more than 120 countries worldwide. The two parties signed a letter of intent in February relating to […]

A series of investments into Zimbabwean lithium by foreign companies, led by mostly Chinese energy companies and UK explorers, has raised debate on value addition in the sector. Huayou Cobalt bought Arcadia mine from Prospect Resources, while Sinomine has completed the acquisition of Bikita Minerals from German investor Wilfried Pabst’s Southern African Metals. UK mineral […]

HOUSES have been built for six of nine families set to be affected by Chinese owned Tsingshan Holding Group’s Manhidze iron and steel plant in Chirumanzu district, as developments take shape. The US$1 billion iron ore mine and carbon steel plant are set to be one of the largest in Africa, with production set to […]

A dramatic drop in export revenue from Zimbabwe’s platinum miners during the first quarter forced Finance and Economic Development minister Mthuli Ncube to somersault on plans to charge a beneficiation tax. The 15% beneficiation tax, which was part of government’s strategy to force platinum miners to establish domestic refineries, was due to come into effect […]