News

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 […]

EXALO #202, the oil and gas drilling rig that is on its way to kick off crucial test well drilling at Invictus Energy’s Muzarabani oilfields, has been stuck in Tanzania due to delays in releasing requisite papers. The driller, which is operated by Romania-headquartered Exalo Drilling SA, recently clinched the deal but was said to […]

A section of Community-Based Organisations (CBOs) in the diamond-rich Chiadzwa area claim that it was barred from making presentations to the Kimberley Process (KP) team which was in the country on a review exercise last week. This comes amid growing concern from civic society over the perceived lack of transparency shrouding Zimbabwe’s diamond mining operations […]

CHINESE companies are defying a ban introduced last year to cease mining activities in the Mavuradonha Wilderness in Muzarabani region. There are indications that despite a government order to cease all mining activities in the area pending consultations, Chinese miners have continued with operations at the expense of the sanctuary and livelihoods of the local […]

The African Energy Chamber (AEC) spoke with Scott Macmillan, Managing Director of Invictus Energy, ahead of the continent’s premier energy event, African Energy Week (AEW) 2022, about the company’s operations on the continent, the challenges independent explorers are facing and the opportunities AEW 2022 provides for explorers such as Invictus. AEC: What are Invictus Energy’s […]

BLACKLISTED diamond dealer, Jamal Ahmed reportedly dribbled past authorities by participating in the Minerals and Marketing Corporation of Zimbabwe (MMCZ) diamond auction using a company reportedly fronted by his son. This was despite his ban from participating in the auction by the government this year following a litany of allegations against him. Ahmed is the […]