News

AN unnamed Israeli investment outfit is on the cusp of setting up a multi-million dollar diamond cutting and polishing plant in the capital nearly two decades after the southern African country discovered a lucrative treasure of gems. At the height of Zimbabwe’s economic malaise in 2008, vast diamond reserves were unearthed in Chiadzwa, Manicaland which […]

ZIMBABWE’S biggest cable maker says it has been dealt a blow by delays to secure authorities’ nod to extend a contentious barter deal that potentially saves millions in United States dollars annually. The Zimbabwe Stock Exchange (ZSE)-listed Cafca, said in regulatory filings Friday that it was further affected by a halt in exports to Malawi […]

Sinomine, the Chinese lithium company that is buying Bikita Minerals, says it plans to invest an initial US$200 million to build a new plant and expand existing operations. Bikita is Zimbabwe’s oldest miner of lithium-bearing minerals, but has only so far produced petalite, which is used mainly in the glass and ceramics industry. Sinomine now […]

Hwange Colliery says coal production rose 49.5% last year, and the company has laid out a plan to mine more coal this year. The plan includes a US$15 million deal with an equipment supplier, and opening new mining areas to increase coal production. Despite a global campaign against coal, Zimbabwe is ramping up output to […]

The Zimbabwe Diamond, Allied and Mineral Workers Union Zdamwu) has described as peanuts the 108% salary increase approved by the National Employment Council, Associated Mine Workers Union of Zimbabwe (Amwuz) and the Chamber of Mines of Zimbabwe (CMZ) on May 19. Zdamwu secretary-general, Justice Chinhema yesterday described the salary increment as another slap in the […]

Mine workers in the country are set to receive an over 100% salary increment Following a successful negotiation with authorities through the Associated Mine Workers Union of Zimbabwe and the Chamber of Mines . The new pay structures according to information from the National Employment Council (NEC) Mining is going to see the lowest paid […]

Huayou Cobalt, the company that has bought the Arcadia lithium mine from Prospect Resources, says it has budgeted US$300 million to bring the project to production. The company bought Arcadia for US$422 million in December, in the largest of a series of acquisitions in Zimbabwe by mostly Chinese and UK firms looking to secure supplies […]

Kuvimba Mining House says it plans to list two more units on the Victoria Falls Stock Exchange and is exploring lithium at Sandawana, once an emerald mine. Kuvimba is majority-owned by government and holds assets such as Bindura Nickel Company (BNC) and Freda Rebecca Mine, the country’s biggest gold mine. Kuvimba also controversially holds former […]

Invictus Energy (IVZ) has seen some fresh potential for multiple stacked zones within the Mukuyu prospect. The Mukuyu Prospect, formerly called the ‘Muzarabani Prospect’, is part of the company’s 80 per cent-owned Cabora Bassa project in Zimbabwe. Seismic inversion results and quantitative analysis (QA) studies indicate strong potential for hydrocarbons within the Mukuyu structure. More […]

Lithium developers around the world are rushing to secure supplies of lithium, as demand for electric vehicles drives up prices. Last year, lithium prices rose 400% in China, the largest consumer of the product. This has driven many suppliers to become more aggressive in their search for new lithium deposits. Zimbabwe, which has lithium potential, […]